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The Indian stock markets, including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), will remain shut on April 10 in observance of Shri Mahavir Jayanti, as announced by Procapitas News. Trading activities across equities, derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will be suspended for the day. Additionally, the commodity derivatives segment will halt operations during the morning session from 9:00 AM to 5:00 PM but will resume trading in the evening session from 5:00 PM to 11:55 PM. Normal trading on both NSE and BSE is scheduled to resume on Friday, April 11.
Following a robust recovery in the prior session, the Indian markets faced headwinds on April 9, driven by weak global cues that triggered widespread selling across sectoral indices. At the close, the Sensex dropped 379.93 points, or 0.51%, to settle at 73,847.15, while the Nifty declined 136.70 points, or 0.61%, ending at 22,399.15. Notable losers on the Nifty included Wipro, SBI, Tech Mahindra, L&T, and Trent, whereas Nestle, HUL, Tata Consumer, Titan Company, and Power Grid Corp emerged as key gainers. The BSE Midcap index fell 0.8%, and the Smallcap index shed 1%. Sectoral performance was largely negative, with Realty, IT, and PSU Bank indices each declining 2%, while Consumer Durables (up 0.3%) and FMCG (up 1.5%) bucked the trend.
Rupak De, Senior Technical Analyst at LKP Securities, commented, "The Nifty remains below the upper band of the falling channel and the 21-day EMA, signaling short-term weakness with resistance near 22,500. The RSI’s bearish crossover further confirms negative momentum. A breakout above 22,500 could propel the index toward 22,750–22,800, but failure to breach this level may see it slide to 22,000."
On the currency front, the Indian rupee weakened significantly, closing 45 paise lower at 86.69 per dollar compared to its previous close of 86.24. Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, noted, "The rupee faced pressure amid global uncertainty following the US imposition of a 104% tariff hike on Chinese goods, intensifying trade tensions. This sparked a sell-off in global markets, including Indian equities, weighing on the rupee. Despite the RBI’s rate cuts to bolster growth, risk-off sentiment prevailed." He added that markets are now focused on the upcoming US CPI data, which could introduce further volatility depending on inflation trends and Fed rate-cut expectations. "In the near term, the rupee is likely to fluctuate between 86.25 and 86.95," Trivedi predicted.
Disclaimer: The opinions and investment insights shared by experts in this Procapitas News report are their own and do not reflect the views of Procapitas News or its management. Readers are advised to consult certified financial experts before making investment decisions.
