Equity markets to be closed on Dussehra festival

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Equity markets to be closed on Dussehra festival

Markets will be closed on Wednesday due to the Dussehra festival celebrations across the country. There will be no trading in equity, derivatives and SLB Securities Lending and Borrowing Segments, according to the BSE website.

Commodities trading will be closed between 9 am and 5 pm. The trading will start from 5 pm to 11.30 pm.

The BSE Sensex and the broader NSE Nifty rebounded sharply on Tuesday, led by solid gains across all sectors. The Sensex and Nifty surged over 2 per cent, reflecting strong gains in global markets.

Foreign institutional investors FII purchased a total of 591 crore worth of domestic equity on Monday, according to provisional data available with the NSE.

In the last eight out of ten years Sensex has given positive returns in October. Markets have a record of troughing out in October. The market is feeling a risk-off, risk-on texture due to changing economic and market signals. The market sentiments have turned positive for the near-term with the decline in dollar and US bond yields, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Wall Street futures jumped as falling US Treasury yields and US dollar boosted demand for stocks while investors waited for clues on how much more the Federal Reserve would go with interest rate hikes to rein in surging prices.

The yield on the US Treasury fell to near two-week lows, lifting rate-sensitive growth stocks.

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Asian stocks advanced as well as Japan's Nikkei index surged 2.96 per cent, while South Korea's KOSPI rose 2.50 per cent.

In currency markets, the US dollar paused in a relentless climb as market participants hoped that the US Federal Reserve is moving closer to the end of its rate hike cycle.

On the energy market, Brent crude rose 0.91 per cent to $89.67 per barrel.