Stock Market Holiday: Due to the Good Friday holiday, the BSE and NSE stock markets will be closed on Friday. Today's trading in the equity, derivative and SLB segments will be halted. Both the Interest Rate Derivatives division and the Currency Derivatives segment will remain unchanged. On Thursday, the market was also closed in observance of the Mahavir and Dr. Baba Saheb Ambedkar holidays. Both benchmark indices experienced losses in the previous session, with the Sensex ending 237.44 points, or 0.41 percent down, at 58,338.93 and the NSE Nifty 50 ending 54.60 points, or 0.31 percent worse, at 17,475.70. Now, Monday will be the first day of trading on the stock market.
We have a long weekend ahead, and on Monday, April 18, the markets will respond to two significant earnings reports from Infosys and HDFC Bank, according to Ajit Mishra, vice president of research at Religare Broking. Additionally, any significant developments on the international front during the next four days might affect the sentiment.
Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd., gave a summary of the week that was: "Despite a hopeful close last Friday, our markets started the week on Monday on a lackluster note due to subdued global cues. The Nifty closed below 17,700 on the same day after consolidating for the most part with a hint of modest weakening. On the other hand, the next day, we saw a respectable gap open as a result of some trepidation that was evident across all international markets. Even while the damage was mostly contained, individual equities continued to make decent profits. On Wednesday, a similar range-bound session was seen, bringing the compressed week to a close with a loss of almost 2% just below the 17,500 level.
"Domestic markets had some selling pressure in a brief trading week as investors remained cautious given persistent high inflation and its impact on the economy," said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services. Future market volatility is anticipated to increase the possibility of aggressive rate hikes by central banks around the world as long as inflationary pressure is present. The Q4FY22 result season has begun, with TCS numbers meeting expectations and Infosys falling short of expectations. Over the long weekend, index heavyweight HDFC Bank will release its earnings, to which the market will respond on Monday. Overall, we anticipate strong 4QFY22 earnings, which should fuel stock-specific market activity.
The impact of elevated commodity prices has begun to be seen in CPI inflation readings, which is prompting the RBI to remove its accommodation and clear the way for higher interest rates to begin in June. According to analysts, tighter financial conditions are detrimental to mid- and small-cap values, and the outlook the lackluster in the defensive portfolio positioning.
Additionally, as of April 18, trading hours favor before the outbreak will resume in markets controlled by the Reserve Bank of India (RBI), beginning at 9.00 am. At this time, the markets open at 10:00.