Stock markets – the BSE Sensex, NSE Nifty and other markets will be closed today. Trading in the Equities, Derivatives and SLB segments will remain suspended today. There will also be no action in the Currency Derivatives segment and in the Interest Rate Derivatives segment.
Markets will resume trading on Thursday, January 27.
On Tuesday, January 26, the benchmark closed on a green note after a five-game losing streak of almost 1,300 points and managed to close the session above 17,000 points. Bank Nifty showed much more strength than Nifty 50 and closed the session at the 37,706.75 level with a gain of 759 points.
At the close, the Sensex was up 366.64 points or 0.64% at 57,858.15. The broader Nifty rose 128.90 points or 0.75% to 17,278.00. About 1,935 stocks were up, 1,330 stocks were down and 84 stocks were unchanged.
On the sector front, all major indexes ended positive except for Nifty IT, while Nifty Media and Auto were the main gainers. Stocks such as Maruti, Axis Bank, SBIN and Bharti Airtel were the main gainers, while Wipro, Titan, Bajaj Finserv and Tech Mahindra were the main laggards.
Asian markets start cautiously
Asian stock markets got off to a cautious start on Wednesday after yet another volatile session on Wall Street as investors braced for the outcome of the Fed’s late-day meeting and any hints of a faster tightening. Monetary Policy, Reuters noted. MSCI’s broadest index of Asia-Pacific stocks outside Japan rose 0.26% early Wednesday, but the index has slipped 2.4% this year and is testing the one-year low of the mid-December.
The Japanese Nikkei fell 0.8% to hover around its lowest level since December 2020. The Fed is expected to update its policy plan later on Wednesday, likely outlining the timing of expected rate hikes and shrinking its massive balance sheet.
US stocks end lower
Wall Street ended the day lower on Tuesday after another tumultuous day of trading while oil jumped more than 2% as geopolitical tensions and Wednesday’s Federal Reserve update occupied investors’ attention, Reuters noted.
The three major U.S. stock indexes saw a repeat of Monday’s bumpy trading. The Dow Jones Industrial Average fell 0.19%, the S&P 500 lost 1.22% to 4,356.45 and the Nasdaq Composite fell 2.28%.
Dollar index hits two-week high
The U.S. dollar hit a two-week high earlier on Wednesday against other currencies as investors flocked to the safe haven. The dollar index, which tracks the greenback against a basket of six currencies, rose 0.06%.
Crude prices up
Worries over a potential conflict in Eastern Europe also boosted oil prices as fears that supplies could tighten pushed the commodity up more than 2%, Reuters noted. Brent crude futures rose $1.93, or 2.2%, to settle at $88.20 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 2.29 $, or 2.8%, to settle at $85.60.
(With additional contributions from Reuters)
Posted: Wednesday January 26th 2022, 09:01 IST