NSE, BSE shut today for Bakrid, other Asian markets open weak, Wall Street closes in green
Mumbai, May 28
The domestic stock markets remained closed on Thursday on account of the Bakri Id holiday, according to the National Stock Exchange.
As per the NSE holiday schedule, trading in both the equity and derivative segments remained shut for the day and will resume on Friday.
The commodity markets also remained closed during the first half of the trading session on Thursday. However, trading in the commodity segment is scheduled to resume from 5 PM onwards.
The instant fund withdrawal facility from trading accounts was also unavailable during the market holiday.
While Indian markets remained shut, most major Asian markets witnessed selling pressure during early trade on Thursday.
Japan's Nikkei 225 index traded marginally lower by 0.03 per cent at the 65,005 level. Singapore's Straits Times index also declined 0.23 per cent to 5,016, while Hong Kong's Hang Seng index witnessed sharper losses and traded 1.47 per cent lower at 24,981 level during early trade.
South Korea's KOSPI index also remained under pressure and declined 0.47 per cent in the early trading session.
Among the key Asian markets, Taiwan's weighted index was the only major market trading in positive territory, rising more than 1 per cent to 44,707 level.
Global market sentiment remained cautious amid continued uncertainty around geopolitical developments and crude oil prices.
Brent crude oil prices also moved higher on Thursday and were trading around USD 96 per barrel at the time of filing this report, up 1.76 per cent.
The rise in crude oil prices continues to remain important for global financial markets as elevated energy prices impact inflation, transportation costs and broader economic activity.
In the US markets, Wall Street indices closed with marginal gains on Wednesday. The S&P 500 index ended slightly higher by 0.02 per cent at 7,520 level, while the Nasdaq index gained 0.07 per cent to close at 26,674.
The Dow Jones Industrial Average also closed in positive territory with a gain of 0.36 per cent at 50,644 level.
Market participants globally continue to closely monitor developments in crude oil prices, geopolitical tensions for further direction in equities and commodities markets.
— ANI
Reader Comments
Bakrid Mubarak to all! 🌙 I think it's smart that NSE and BSE close for festivals—it shows respect for our diverse culture. But honestly, with crude oil prices rising, I'm worried about inflation hitting my household budget again. The government better keep fuel subsidies in check.
Not too concerned about one-day closure—it's the global trends that matter. Japan and Hong Kong are shaky, but Taiwan is up 1%. Meanwhile, crude at $96 is the real elephant in the room. I've been tracking Brent for weeks; if it crosses $100, our markets will feel the heat. Hope the RBI is prepared.
I'm an expat in Mumbai—interesting to see Indian markets close for Bakrid while we watch global cues. Wall Street's green is a relief, but the Asian selloff makes me cautious. The instant withdrawal being unavailable is inconvenient though—I needed to move funds for a family emergency. Hope they improve this feature during holidays.
Markets closed for Bakrid—good for traders to recharge. But I'm concerned about the lack of movement while global markets are active. When we reopen on Friday, we might play catch-up. Also, crude oil at $96 per barrel? That's going to dent our fiscal deficit if it stays high. The Modi government needs to talk to OPEC.
I trade from Bangalore—holidays are a break, but this volatility in Asia (Nikkei -0.03%, KOSPI -0.47%) signals uncertainty. Wall Street's green is just a flicker. Ge
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