Indian Markets Closed For Holiday, Asia Trades Mixed

Stocks in Asia-Pacific were mixed in Monday morning trade, even as markets in India are closed for a holiday.

The Japanese Nikkei 225 in gained 0.78% in early trade while the Topix index advanced 0.6%. South Korea's Kospi, on the other hand, fell marginally by 0.27%. Shares in Australia were trading almost little changed on Monday.

"The market may remain under pressure in the near term amidst weak global cues, and fast spreading 2nd wave of covid in India, which could impact the pace of economic recovery. High commodity prices too is a concern and till it cools off substantially the fear of inflation would continue to loom. This week would be a truncated one as far as Indian markets are concerned due to couple of bank holidays (29th March, Monday- Holi and 2nd April, Friday -Good Friday), hence the traders would watch the global cues closely and accordingly have positions. Given the likelihood of high volatility continuing in the market for some time, investors would do well by staying calm and gradually accumulating good quality companies on declines in the market," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Markets are exepected to remain volatile over the next few week, given that it is a truncated week.