Buddha Purnima 2020: Forex Markets Shut On Thursday

Buddha Purnima 2020: Domestic forex as well as debt markets remained shut on Thursday, May 7.

Buddha Purnima 2020: Forex Markets Shut On Thursday

After the Buddha Purnima holiday on Thursday, the money markets will resume trading the next day

Buddha Purnima 2020 Market Holiday: Domestic foreign exchange (forex) as well as debt markets remained shut on Thursday for Buddha Purnima holiday. The equity as well as commodity markets, however, operated normally. On Wednesday, the rupee had shed 13 paise - or 0.17 per cent - to end at 75.76 against the US dollar. Analysts say the rupee is expected to remain under pressure on account of rising coronavirus cases. Buddha Purnima celebrations were being held virtually due to the coronavirus (COVID-19) pandemic, as the country remained in the third phase of a nationwide lockdown, with few exceptions, to curb the outbreak. 

The money markets will resume trading on Friday, May 8. 

Equity market benchmark indices S&P BSE Sensex and NSE Nifty 50 fluctuated between gains and losses on Thursday. At 10:38 am, the Sensex traded 162.73 points - or 0.51 per cent - lower at 31,523.02, while the Nifty was down 42.15 points - or 0.45 per cent - at 9,228.75.

Crude oil prices rose on Thursday amid a weaker-than-expected rise in US inventories, but market watchers predicted further gains could be capped by the ongoing glut in crude supplies as the coronavirus pandemic crushes fuel demand.

Brent crude - the global benchmark for crude oil - was last seen trading 0.4 per cent higher at $29.84 per barrel, having fallen 4 per cent in the previous session.

The dollar index - which gauges the greenback against six major peers overseas - rose as much as 0.14 per cent on Thursday, and was last seen up 0.09 per cent.

Back home, the money markets will also remain closed on May 25 on account of Ramzan Id (Id-Ul-Fitr).