Domestic financial markets will remain shut on Friday, October 2, for Mahatma Gandhi Jayanti holiday. Trading in the markets will resume on Monday, October 5. In the four-day, holiday-truncated trading week, on account of the Mahatma Gandhi Jayanti holiday on Friday, the S&P BSE Sensex index climbed up 1,308.39 points – or 3.50 per cent – whereas the broader NSE Nifty 50 benchmark added 366.7 points (3.32 per cent). The rupee gained by 47 paise – or 0.64 per cent – during this period.
The recent recovery was led by optimism around easing of COVID-19-related restrictions by the government, in tandem with global markets, where investors remained hopeful about recovery from the damage caused by the pandemic.
“October has brought with it some encouraging auto sales numbers and stellar IPO listings… But investors should not read too much into these numbers yet, because on the face of it, these growth numbers might seem positive,” said Nirali Shah, senior research analyst at Samco Securities.
The government on Wednesday permitted states to reopen movie theatres at 50 per