Indian stock markets closed today for Ambedkar Jayanti, end last week with strong gains

Bombay Stock Exchange (BSE) building, in Mumbai. File Pic

Indian stock markets are closed today in observance of Dr. B.R. Ambedkar Jayanti, marking the birth anniversary of Dr. Bhimrao Ramji Ambedkar, revered as the principal architect of the Indian Constitution and a pioneering social reformer. Born on 14 April 1891, Ambedkar's legacy is commemorated across the nation with a public holiday, during which banks, government offices, and educational institutions remain shut in his honour, as per ANI reports.

While trading remains suspended on this national holiday, markets had concluded the previous week on a notably positive note, rebounding after a period of turbulence earlier in the week.

Monday saw a sharp downturn in Indian equities, prompted by global unease following the United States government's announcement of retaliatory tariffs, which stirred widespread fears of a looming trade war. The already fragile investor sentiment took a further hit after China responded with its own set of retaliatory measures, intensifying concerns across global markets.

However, markets regained composure mid-week when the U.S. administration decided to delay the imposition of tariffs for countries other than China. This strategic shift brought some much-needed relief and led to a partial recovery in stock prices globally, including in India.

By the end of the week on Friday, benchmark indices posted impressive gains. The BSE Sensex closed at 75,157.26, registering a rise of 1,310.11 points or 1.77 per cent. Meanwhile, the NSE Nifty ended at 22,828.55, up by 429.40 points or 1.92 per cent. Sectoral indices, particularly those representing metals, consumer durables, and oil & gas, emerged as the key drivers of this upward movement, as per ANI.

Domestically, investor confidence was bolstered by the Reserve Bank of India's latest monetary policy announcement. The central bank not only cut interest rates but also signalled a dovish outlook, indicating a willingness to offer additional policy support if necessary. This accommodative stance was welcomed by the markets and played a significant role in offsetting earlier losses.

Ajit Mishra, Senior Vice President, Research at Religare Broking, noted that the forthcoming week - though shortened due to the public holiday - will be closely watched for further developments on the U.S.-China trade front. "On the domestic side, focus will shift to corporate earnings, with key results expected from IT giants such as Wipro and Infosys, along with major private banks like HDFC Bank and ICICI Bank," he stated, according to ANI.

(With inputs from ANI)