Mumbai (Maharashtra) [India], Nov 12: Bombay Stock Exchange (BSE) Ltd and the National Stock Exchange of India (NSE) Ltd were closed on Tuesday on account of Guru Nanak Jayanti.
Wholesale commodity markets including metal and bullion were also shut to mark the 550 birth anniversary of the founder of Sikhism. There was no trading activity in the foreign exchange and commodity futures markets as well. A day earlier, the BSE S&P Sensex had closed 21 points up at 40,345 while the Nifty 50 moved higher by 5 points to 11,913.
After market closing hours, the government released data which showed that industrial output in September contracted by 4.3 per cent from a year earlier due to poor performance in the manufacturing sector. That may dampen market sentiment on Wednesday as investors await more corporate results for the second fiscal quarter.
Meanwhile, Asian share markets were flat on Tuesday as uncertainty over the US-China trade talks and political unrest in Hong Kong dogged investor sentiment. MSCI’s broadest index of Asia Pacific shares outside Japan edged up by 0.04 per cent but Japan’s Nikkei dithered either side of flat.
Caution ruled ahead of a speech by US President Donald Trump to the Economic Club of New York later in the day over progress on phase one of the trade deal between the world’s two most powerful economies.