Stock markets to remain open on Krishna Janmashtami

The Indian stock markets would open for regular trading on the occasion of Krishna Janmashtami which will be celebrated on Monday, August 26. Last time stock market was closed for holiday was on Independence Day, August 15. The next trading holiday will fall on October 2 on account of Mahatma Gandhi Jayanti.

Both benchmark indices closed higher for second week in a row near record highs. The Nifty ended at 24,823.10, and the Sensex finished at 81,086.20. Both had reached near their weekly peaks, despite mixed trends amongst the heavyweight stocks, which slightly capped the gains.

Except real estate shares most sectors participated in the up. Amongst individual sectors, metals, FMCG, and financial services have been leading this rally. It was not just the frontline that did well but the broader market also saw decent gains, with both the midcap and smallcap indices closing at record highs.

With nothing really major on the domestic front now, the markets are looking for cues from abroad, and a dovish statement by the US Federal Reserve chair Jerome Powell at the Jackson Hole symposium gave it a boost as US markets again resumed their uptrend to almost record highs. It also satisfied investors and further supported Indian markets with a weak dollar and falling crude oil prices.

Religare Broking Head of Research Ajit Mishra said, "Investors are watching global developments, especially the US Fed's stance, which has provided a favourable backdrop for Indian markets."