Maharashtra Day: On account of Maharashtra Day, all major financial markets including the 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 Tuesday.
PM Modi greeted people
Prime Minister Narendra Modi on Monday greeted people on the formation day of Maharashtra and Gujarat. He tweeted, "Best wishes on Maharashtra Day. The state is blessed with a great culture and hardworking people who have enriched national progress across different sectors. I pray for the continued progress of Maharashtra in the years to come."
In another tweet, he said, "Greetings on Gujarat Sthapana Diwas. Gujarat has made a mark due to its all-round progress as well as its unique culture. I pray that the state continues to scale new heights of development in the times ahead."
Domestic stock extended gains for the seventh consecutive session
On Friday, the domestic stock extended gains for the seventh consecutive session, tracking strong global cues as well as stronger corporate earnings.
The weakness in the US dollar has once again made Indian and other emerging equity markets lucrative for foreign institutional investors. Adani Enterprises, Adani Ports, Britannia, Wipro and Nestle were the major gainers on NSE. Among the laggards, ONGC, JSW Steel and HCL Tech lost during the session.
For fresh cues, investors will continue to monitor the earnings of listed companies along with the latest pattern of foreign investments in Indian stocks. Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the second straight month after having sold two months on a trot in January and February, latest data from the National Securities Depository (NSDL) revealed. FPIs bought assets worth Rs 11,631 crore in Indian stock markets in April.
Also, investors would eye US monetary policy meeting scheduled for May 2-3. In the US, the interest rate is currently at 4.75 to 5.00 per cent, which was near zero during the initial days of the pandemic and much of the hike was to manage rising inflation.
(with inputs from ANI)