Due to Holi, Monday's currency, debt, and equities markets in India will be closed. The trade will return on Tuesday, March 26.
The BSE Sensex closed with a marginal uptick of 0.26% at 72,831.94 points, while the NSE Nifty 50 index saw a slightly higher increase of 0.39%, reaching 22,096.75 points. This positive movement in the equity markets can be attributed to the Federal Reserve's decision to maintain its accommodative monetary policy stance throughout the year, bolstering investor sentiment and resulting in weekly gains for both indexes.
However, on Friday, the Indian rupee experienced significant depreciation, plunging to an unprecedented low of 83.43 against the US dollar, spurred by heightened local demand for dollars and a downturn in the offshore Chinese yuan. The currency closed at a record low of 83.4250, underscoring the impact of these factors on the foreign exchange market.
In the final week of the financial year, which is shortened by holidays, states shocked the market by announcing plans to sell record amounts of debt. As a result, the benchmark 10-year bond was quoted at Rs 100.58, with a yield that was up 4 basis points at 7.0927%.
