The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will remain shut on October 2 on account of the Mahatma Gandhi Jayanti. There will be no trading in equities, equity derivatives, interest rate derivatives and currency derivatives, while securities lending and borrowing will also not take place on Monday.
Wholesale commodity markets, including metal and bullion, will also remain closed.
On September 29, the Indian benchmark indices closed higher, aided by a healthy uptick in metals and pharma names but losses in information technology stocks capped the gains.
At close, the Sensex was up 320.09 points or 0.49 percent at 65,828.41, and the Nifty was up 114.80 points or 0.59 percent at 19,638.30.
Major Nifty gainers included Hindalco Industries, NTPC, Hero MotoCorp, Dr Reddy's Laboratories and Divis Lab, while losers were Adani Enterprises, LTIMindtree, HCL Technologies, Tech Mahindra and Power Grid.
Except information technology, all sectoral indices ended in the green. Metal, power, oil and gas, PSU bank and healthcare indices were up 1-2.7 percent.
The BSE midcap index gained 1.3 percent and the smallcap index 0.6 percent.
"On the daily charts, we can see that the Nifty has not witnessed follow-through selling pressure from the previous session. In fact, it managed to close above 19,600, which is a positive sign. On the hourly charts, we can observe an Impulse i.e. a five-wave advance which helps us to assume that the low of 19,492 is a short-term bottom in place," said Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas.
"The positive divergence and crossover on the hourly time frame also suggest that the probability of a pullback is high. Both price and momentum indicators suggest that there can be a positive momentum over the next few sessions. In terms of levels, 19,500–19,480 is the crucial support zone, while 19,780–19,840 shall act as an immediate hurdle zone."
"The Bank Nifty also witnessed a pullback and managed to close around the 20-week moving average (44,584), which is a positive sign. We believe the Bank Nifty is losing momentum on the downside, which is evident from the positive divergence on the hourly time frame. On the upside, we expect a pullback towards 45,000–45,200 from a short-term perspective," he said.
On Friday, the rupee ended 14 paise higher at 83.04 per dollar versus previous close of 83.18.
“USDINR spot closed, thanks to quarter end selling from exporters and also some corporate related inflows. Global cues were positive for Rupee, as the US Dollar Index came under selling pressure due to profit taking and cool off in the US Treasury bond yields. Over the next week we expect a range of 82.70 and 83.30 on spot,” said Anindya Banerjee, VP - Currency Derivatives and Interest Rate Derivatives at Kotak Securities.
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