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Stock, Forex Markets Closed On Wednesday For Maharashtra Day

Stock, Forex Markets Closed On Wednesday For Maharashtra Day

May 1 Maharashtra Day holiday: Trading in the stock markets will resume on Thursday

Indian stock and foreign exchange markets remained closed on Wednesday for the Maharashtra Day holiday. Trading will resume on Thursday, May 2. Benchmark indexes S&P BSE Sensex and NSE Nifty had ended 0.1 per cent and 0.6 per cent lower on Tuesday respectively, amid selling pressure in Yes Bank, IndusInd Bank, Hero MotoCorp and Maruti Suzuki India. The domestic markets had also remained shut on Monday for a general election in the state.

The rupee moved higher by 46 paise against the US dollar to end at 69.56 on Tuesday, appreciating against the greenback for a second consecutive session.

Meanwhile, markets regulator Sebi or Securities and Exchange Board of India on Tuesday slapped a fine of Rs. 625 crore on the National Stock Exchange in a case related to alleged trading lapses in the bourse’s co-location facility. The regulator also barred the NSE from the securities market for six months, a move likely to delay a public offer for the exchange.

According to analysts, Sebi’s order on the National Stock Exchange is not likely to impact the markets.

Don’t think the barring of NSE from the capital market will have any material impact on the markets… With this, a hangover regarding the NSE IPO is gone,” AK Prabhakar, head of research at IDBI Capital, told NDTV.

“There is a roadmap now… In a way it’s positive. It does not impact the trading sentiment at all,” he added.

Alleged lapses in high-frequency trading offered through the NSE co-location facility came under the scanner of the watchdog after a complaint was filed in 2015.

The bourse “shall disgorge an amount of Rs. 624.89 crore… along with interest calculated at the rate of 12 per cent per annum from April 1, 2014, onwards to the Investor Protection and Education Fund (IPEF) created by Sebi”, the Sebi order said.

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