Stock Market to Remain Closed on Account of Good Friday
Indian Stock Market Observations Ahead of Easter Holiday
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain closed on April 3 to observe Good Friday. The commodity derivatives segment will also remain closed for the entire session. Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives, and interest rate derivatives will be suspended for the day on both the BSE and NSE.
Trading on the NSE and the BSE is expected to resume on April 6. The recent session on April 2 saw a highly volatile market, with the Indian market ending on a positive note. The Nifty closed above 22,700, supported by IT stocks after the Indian rupee posted its biggest gain in more than 12 years.
Market Performance on April 2
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| Index | Closing Value | Change |
|---|---|---|
| Sensex | 73,319.55 | Up 185.23 points (0.25%) |
| Nifty | 22,713.10 | Up 33.70 points (0.15%) |
| Nifty Midcap | 22,420.95 | Down 0.3% |
| Nifty Smallcap | 21,555.50 | Down 0.4% |
The broader markets ended lower, with the Nifty Midcap index falling 0.3% and the Nifty Smallcap index declining 0.4%. HCL Technologies, Tech Mahindra, TCS, Tata Consumer, and Wipro were among the top gainers on the Nifty, while Eternal, Asian Paints, Eicher Motors, Bajaj Auto, and Sun Pharma were among the losers.
Sector-Wise Performance
| Sector | Change |
|---|---|
| IT | Up 2.6% |
| Realty | Up 1% |
| Auto | Down 1% |
| PSU Bank | Down 1% |
| Oil & Gas | Down 1% |
| Pharma | Down 1% |
| Consumer Durables | Down 1% |
The Indian rupee recorded its biggest gain in over 12 years after the Reserve Bank of India introduced additional measures to curb currency volatility. The INR strengthened by 173 paise to close at 93.10 against Monday's closing level of 94.83.
According to Dilip Parmar, Research Analyst at HDFC Securities, the RBI's measures are rupee-positive and anticipate a period of short-term appreciation. However, the broader trajectory remains tethered to global dollar liquidity, crude oil fluctuations, and shifting geopolitical dynamics. In the near term, the USDINR is expected to consolidate within a defined range of 92.30 to 93.50 after recent surge in value and volatility.
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