Monday, June, 05,2023

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Exchanges shut on Diwali, normal trade to resume tomorrow

New Delhi: Indian stock exchanges are closed on Monday for trading on the occasion of Diwali. Normal trading will resume tomorrow.
However, the Indian stock exchanges will be open for an hour in what is called Muhurat trading. The exchange platforms will be open for trading today evening from 6.15 pm to 7.15 pm. During this 1-hour window, investors place orders for stocks according to their wishes which they believe to be auspicious and bring in good returns.
Next week, stock markets investors will keep an eye on second-quarter earnings and global markets for fresh cues.
Meanwhile, foreign portfolio investors have withdrawn funds worth Rs 5,992 crore from Indian stock markets in October and become net sellers for the second straight month amid the strong US dollar index, weak rupee, and tightening of monetary policy.
In September, they sold Rs 7,624 crore worth of equities in India, data from National Securities Depository Limited showed. So far in 2022, they sold Rs 174,781 crore on a cumulative basis.
Barring July and August when they were net buyers, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for a year, which started in October last year for various reasons. (ANI)

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