Domestic equity, currency and debt markets remain closed on Friday, June 26, for Muharram after benchmark indices ended Thursday with modest gains, completing their third consecutive week in the green. The BSE Sensex rose 109.25 points, or 0.14 per cent, to close at 77,100.47, while the Nifty 50 added 34.35 points, or 0.14 per cent, to settle at 24,056, supported by softer crude oil prices, a stronger rupee and improving sentiment around foreign portfolio inflows. Trading will resume on Monday, June 29.
Market sentiment improved after crude oil prices retreated to pre-Iran-war levels, easing concerns over India’s import bill and inflation outlook. Recent measures to support the rupee and attract overseas inflows also aided investor confidence.
Indian rupee strengthened about 0.3 per cent against the US dollar to ₹94.3950 as declining oil prices and signs of a pickup in foreign portfolio inflows boosted sentiment. However, caution persisted over the possibility of US rate hikes.
Investors await fresh triggers next week
With markets reopening on Monday, investors will turn their attention to next week’s US Non-Farm Payrolls and unemployment data, which are expected to influence global equities, the US dollar and gold.
Domestically, a muted outlook for the Q1 earnings season and an uneven monsoon remain key variables for investors. Analysts said a sustained move above the 24,200 level on the Nifty could open the way towards 24,400-24,500, although such a breakout would require a fresh catalyst.