BSE, NSE to remain closed on account of Holi today

The National Stock Exchange of India (NSE) and the BSE will remain shut on March 7 on account of Holi.

Wholesale commodity markets, including metal and bullion, will also remain closed. There will be no trading activity in the forex and commodity futures markets either.

On March 6, the S&P BSE Sensex climbed 415.49 points or 0.69 percent to 60,224.46, while the Nifty settled 117.20 points or 0.67 percent higher at 17,711.50.

Adani Enterprises, Tata Motors, ONGC, NTPC and Power Grid Corporation were among the top gainers on the Nifty, while losers included Britannia Industries, Tata Steel, JSW Steel, Hindalco Industries and IndusInd Bank.

Except metal, realty and PSU Bank, all other sectoral indices ended in the green with power and oil & gas up 2 percent each.

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The BSE midcap index rose 0.7 percent while the smallcap index added nearly a percent.

“The relief rally continued for the second straight session backed by sharp upsurge in energy stocks like power, oil and gas that helped benchmark Sensex end above the psychological mark of 60,000,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

“There is some amount of bargain buying seen after the recent sell off but the overall sentiment still remains that of caution with a negative bias as larger worries related to macro-economic woes and geo-political tension still pose significant threat to markets.”

“Technically, 17,800-17,900 could be the immediate profit booking zone for the bulls while 17,650-17,600 would be the sacrosanct support zone for the traders. However, below 17,600 uptrend would be vulnerable,” he added.

On March 6, the rupee closed marginally higher at 81.92 per dollar against Friday’s close of 81.97.