BSE, NSE shut today on account of Dr. Baba Saheb Ambedkar Jayanti

The National Stock Exchange of India (NSE) and the BSE will remain closed on April 14 on account of Dr. Baba Saheb Ambedkar Jayanti.

Wholesale commodity markets, including metal and bullion, will also remain shut. And there will be no trading activity in the forex and commodity futures markets either.

On April 13, the Sensex rose 660.68 points or 1.38% to end at 48,544.06, and the Nifty jumped 194 points or 1.36% to close at 14,504.80.

"Market attempted to pull back from Monday’s selloff but wasn’t that enthusiastic. IT sector broke the trend due to profit booking as initial Q4 results were in line with expectations not providing enough leeway to a highly valued sector. While Industrial production for February declined by 3.6% primarily due to contraction in the manufacturing and mining sectors," said Vinod Nair, Head of Research at Geojit Financial Services.

"India’s retail inflation for March also rose to 5.52%, however, it did not harm the market sentiment as it was in line with the recent RBI policy forecast. How the lockdowns will affect the economy will determine the trend of the domestic market, in the short-term," he added.

Auto, PSU bank, metal, and energy indices rose 2-4 percent, while the IT index shed 3 percent.

M&M, Bajaj Finserv, Tata Motors, Bajaj Finance, and Maruti Suzuki were among major gainers on the Nifty, while losers were TCS, Dr. Reddy’s Laboratories, Tech Mahindra, Wipro, and HCL Technologies.

"We expect volatility to continue until there is clarity over the lockdown situation and availability of vaccines. The earnings season would further add to the choppiness ahead, so we suggest investors maintaining a stock-specific trading approach. Meanwhile, global cues, metals, and crude oil prices would also be on investors’ radar," said Ajit Mishra, VP - Research, Religare Broking.

On the BSE, the auto index rallied over 4 percent, while bank, metal, capital goods, oil & gas, and realty indices rose 2-3.5 percent. However, the IT index shed 2.6 percent.

BSE Midcap and Smallcap indices gained over 1 percent each.