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Stock Markets Closed Today; US-China Talks And Fed Meet Minutes To Be Key
Indian stock market is closed today on Account of Bakri Id festivities. The broader index on Tuesday closed at new records surpassing previous highs supported by IT and pharma stock buying. Sensex closed 38285.75 or higher by 7 points (+0.02%) while Nifty gained 11570.90 or 19.15 points (+0.17%).
On the Nifty, Tech Mahindra as the topmost gainer with 3% price increase.
Rupee also recovered from life time lows taking cues from weakening dollar as Donald Trump refuted the US government for Federal reserve interest rate hike.
The rupee closed at 69.82 for a dollar while the 10-year benchmark yield stood at 7.82%. The dollar for strengthening for quiet some time has receded due to President Trumps comments.
Fed meet outcome, ongoing results of the US-China trade talks and movement in lira is likely to give directions to the market in the week ahead period as the earnings seasons for the corporate have almost ended.
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