Markets closed today on account of Muharram

Stocks spiralled lower for the third straight session Wednesday.

Markets closed today on account of Muharram

New Delhi: The BSE, the NSE, forex, money and bullion markets will remain closed on Thursday on account of 'Muharram'.

Stocks spiralled lower for the third straight session Wednesday as wary investors pared their portfolios even as the rupee staged a recovery and global equities shrugged off the US-China trade tensions.

The BSE benchmark Sensex tumbled 169 points to end at a near two-month low of 37,121.22, while the broader NSE Nifty dropped 44.55 points to 11,234.35.

The 30-share Sensex has now lost about 970 points in three days, largely due to rupee woes, high crude oil prices, unabated foreign fund outflows and escalating trade tensions between the US and China.

Meanwhile, the rupee appreciated 49 paise intra-day against the dollar to 72.49.

Globally, Asian and European markets rose as investors wagered on a less-than-expected impact of the US-China trade conflict.

The NSE Nifty dropped 44.55 points, or 0.39 percent, to 11,234.35. Intra-day, it shuttled between 11,332.05 and 11,210.90.

There were no signs of change in trading preference of foreign portfolio investors who net sold shares worth Rs 1,143.73 crore Tuesday. Domestic institutional investors (DIIs) picked up equities worth a net Rs 264.66 crore, according to provisional data.

With PTI Inputs

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