Domestic stock exchanges BSE and NSE will be closed on Tuesday to observe Shri Mahavir Jayanti. Additionally, the Multi Commodity Exchange of India (MCX) will not operate during the morning session but will resume trading in the evening. The National Commodity and Derivatives Exchange Limited (NCDEX) will remain closed all day.
Mahavir Jayanti, commemorating Lord Mahavira’s 2624th birth anniversary, is being celebrated by Jain communities globally. The market holiday coincides with increased global geopolitical tensions that have led to a significant decline in equities. Factors such as foreign institutional investor outflows, macroeconomic worries, and rupee weakness have added pressure on domestic markets.
Despite ongoing global conflicts, GIFT Nifty futures, an early Nifty index indicator, showed a 1% increase at 22,690. On the other hand, Wall Street closed lower, with the S&P 500 and Nasdaq both experiencing declines. Asian markets also saw drops, with Nikkei, Hang Seng, and KOSPI trading lower.
Oil prices faced notable losses, with Brent crude futures dropping to $104.84 per barrel and US WTI futures falling to $100.83 per barrel.
