Indian share markets remained closed on Tuesday on account of the Holi festival holiday, with trading suspended on both the National Stock Exchange and the BSE.
Both exchanges will resume operations on the next trading day. The Multi Commodity Exchange of India (MCX) remained closed during the first half of the day but is scheduled to reopen for its evening session from 5 pm to 11 pm.
Asian Markets Under Pressure
In other Asian markets, major indices traded under pressure amid heightened geopolitical tensions.
Japan’s Nikkei 225 declined 1.71 per cent to 57,065. Hong Kong’s Hang Seng index fell 0.24 per cent to 25,985. Taiwan’s Weighted Index slipped 0.36 per cent to 34,967, while South Korea’s KOSPI dropped 2.42 per cent. Singapore’s Straits Times index bucked the trend, rising 0.94 per cent.
Crude Oil Gains on Tensions
Crude oil prices surged amid escalating tensions in the Middle East. Brent crude rose approximately 1 per cent to USD 78.52 per barrel.
US markets closed on a mixed note on Monday. The Dow Jones Industrial Average fell 0.15 per cent to settle at 48,904.78. The S&P 500 edged up 0.04 per cent to 6,881, while the Nasdaq advanced 0.41 per cent to close at 22,761.
Domestic Benchmarks End Lower
On Monday, domestic equity benchmarks witnessed a sharp sell-off as rising military tensions between the United States, Israel, and Iran triggered a global risk-off sentiment.
The Sensex closed at 80,238.85, down 1,048.34 points or 1.29 per cent. The Nifty ended at 24,865.70, down 312.95 points or 1.24 per cent.
Market participants are expected to track global cues and crude oil price movements when trading resumes after the holiday.
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