Is the stock market open tomorrow?

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NEW DELHI: Equity, currency and derivatives markets will be closed for trading on Thursday and Friday, April 14-15 on the occasion of Mahavir Jayanti and Good Friday, marking a rare four-day trading hiatus if we include the weekend that follows.

Commodity markets will be closed only for the morning session on Thursday and will be closed for both sessions on Friday.

The market will resume trading on Monday, April 18.

Meanwhile, the benchmark indices wrapped up the holiday-truncated week with cuts, recording a third straight loss on Wednesday. The 30-share benchmark BSE Sensex closed at 58,338.93 and the broader NSE Nifty at 17,475.65.

The impact of high commodity prices has started showing up in CPI inflation prints and is forcing RBI’s hand to reduce accommodation and open up a path for higher rates starting from June. Tighter financial conditions are unfavourable for valuations of mid & small caps and the outlook favours defensive posturing for portfolios, said analysts.

“IT stocks have been seeing meaningful short build-up going into results despite expectations of strong numbers, as well as demand commentary – fears of a US slowdown, are serving to dampen valuation across all IT stocks, especially in mid-cap IT space,” said S Hariharan, Head- Sales Trading, Emkay Global Financial Services.

“Banks are expected to post strong numbers for the quarter – higher inflation initially aids credit growth and this is expected to show up in robust NII growth as well as NIMs. Foreign flows are expected to remain subdued on account of tightening global liquidity conditions and hence, FPI flow is likely to be negative in the short term.”