Maharashtra Day: Due to Maharashtra Day, all major financial markets including Bombay Stock Exchange (BSE), National Stock Exchange (NSE), currency and debt markets will remain closed on Monday. As per the latest updates, normal trading activities will resume on Tuesday.
PM Modi greeted the people
Prime Minister Narendra Modi on Monday greeted people on the foundation day of Maharashtra and Gujarat. He tweeted, “Happy Maharashtra Day. The state is blessed with a great culture and hardworking people who have enriched national progress in various fields. I pray for Maharashtra’s continued progress in the years to come.”
He said in another tweet, “Congratulations on Gujarat Foundation Day. Gujarat has left its mark due to its all-round progress as well as its unique culture. I pray that this state continues to touch new heights of development in the times to come.
Domestic stocks gained for the seventh consecutive session
Domestic stocks advanced for the seventh consecutive session on Friday tracking strong corporate earnings along with strong global cues.
The weakness in the US dollar has once again made Indian and other emerging equity markets attractive to foreign institutional investors. Adani Enterprises, Adani Ports, Britannia, Wipro and Nestle were major gainers on the NSE. Among the laggards, ONGC, JSW Steel and HCL Tech lost during the session.
For fresh signals, investors will continue to monitor the latest pattern of foreign investment in Indian stocks as well as earnings of listed companies. The latest data from the National Securities Depository (NSDL) showed that foreign portfolio investors (FPIs) remained net buyers in Indian stock markets for the second straight month after two consecutive months of selling in January and February. FPIs bought assets worth Rs 11,631 crore in Indian stock markets in April.
Also, the eyes of investors will also be on the US monetary policy meeting to be held on May 2-3. In the US, interest rates currently stand at 4.75 to 5.00 per cent, which were close to zero in the early days of the pandemic and most of the hike was to manage rising inflation.
(With inputs from ANI)
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