Mumbai: The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India were shut on account of Good Friday.Wholesale commodity market including metal and bullion were also closed. There was no trading activity in forex and commodity futures markets as well.
The markets will resume trading on April 13 Monday.A day earlier, the BSE S&P Sensex had closed 1,266 points or 4.23 per cent higher at 31,160 while the Nifty 50 ticked up by 363 points or 4.15 per cent at 9,112.
Investors hoped another stimulus package from the government to help the worst-affected sectors and micro, small and medium enterprises (MSMEs) amid the coronavirus outbreak.
Overnight, Wall Street closed on a high note as the US Federal Reserve unleashed another programme in a bid to buoy local governments and businesses with some reports suggesting that pandemic in the United States was nearing its peak.
The Dow Jones Industrial Average rose 286 points or 1.22 per cent to 23,719, the S&P 500 gained 40 points or 1.45 per cent to 2,790 and the Nasdaq Composite added 63 points or 0.77 per cent to 8,154.
Under the Fed`s 2.3 trillion dollar package, the US central bank said it will work with banks to offer four-year loans to companies of up to 10,000 employees and directly buy bonds of states and more populous counties and cities.
However, while the trajectory of coronavirus pandemic remains uncertain, the International Monetary Fund (IMF) expects an economic crisis worse than the great recession of 2008.The COVID-19 will be the centre of attention during the 2020 Virtual Spring Meetings next week.