The Indian equities markets are closed on Thursday in observance of Muharram, a Muslim festival. Trading will resume on Friday as the markets try to rebound from Wednesday’s loss.
The S&P BSE Sensex and the NSE Nifty 50 both fell on Wednesday and concluded the day down. Both the Nifty and the Sensex finished down 162 and 45 points, respectively, at 55,629 and 16,558 respectively on Friday. Sensex hit a record high of 56,118 and Nifty reached 16,700 for the first time during the session.
HDFC Bank, which has been granted permission by the Reserve Bank of India (RBI) to issue new credit cards, was one of the first banks to benefit on Wednesday. Losses at Kotak Mahindra, ICICI, Axis, IndusInd, and HDFC outweighed the gains, although.