Domestic equity, debt and currency markets will remain closed on Monday on account of Ganesh Chaturthi. Last Friday, the stock market benchmark index S&P BSE Sensex rose 263.86 points - or 0.71 per cent - to close at 37,332.79, while the broader NSE Nifty index settled at a gain of 74.95 points - or 0.68 per cent - at 11,023.25. The rupee rose by 39 paise against the US dollar to end at 71.41 on Friday, led by strength in domestic equities and renewed hopes of the US-China trade talks. The 10-year benchmark bond yield finished at 6.56 per cent, as against the previous close of 6.55 per cent. (Also read: President Kovind, PM Modi greet citizens on Ganesh Chaturthi)
The financial markets will resume trading on Tuesday, September 3.
The Sensex and Nifty shed 148.33 points - or 0.40 per cent - and 94.75 points - or 0.85 per cent - respectively in August.
The rupee depreciated 3.81 per cent against the US dollar last month.
Analysts expect the markets to remain volatile in the near term.
"Weak GDP numbers could prompt the government to take urgent remedial measures especially to boost rural incomes and facilitate public and private spend in capacity creation,” said Deepak Jasani of HDFC Securities.
Official data released last Friday showed India's GDP or gross domestic product expanded 5 per cent in the quarter ended June 30, marking the slowest pace of growth since March 2013. Weakness in consumer demand and private investments affected economic growth. (What economists say)
"Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for August 2019 starting from September 1, 2019,” Mr Jasani added.
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