Stock Markets Shut Today On Account Of Dussehra

Domestic stock markets are closed on Thursday on account of 'Dussehra', reported news agency Press Trust of India (PTI). On Wednesday, the equity indices closed in the red, dragged by financial stocks. The S&P BSE Sensex plunged 382.90 points or 1.09 per cent to end at 34,779.58. The Nifty50 index of the National Stock Exchange (NSE) tanked 131.70 points or 1.24 per cent to settle at 10,453.05. The domestic markets have been facing a liquidity crunch amid surging crude prices and depreciating rupee. The recent string of defaults by non-banking financial companies (NBFCs) on debt repayment has compounded worries. Stock markets will now resume trading on Friday. 

On the other hand, the rupee settled 13 paise lower at 73.61 against the US dollar on Wednesday. The domestic currency has depreciated by around seven per cent against the dollar and by more than four per cent on a real effective basis in the first half of 2018, PTI reported.

Meanwhile, China's benchmark stock index skidded to four-year lows and dragged Asian equities down on Thursday, as renewed fears of a broadening economic impact from an escalating Sino-US trade conflict sapped confidence. The dollar, however, was in fine fettle, hitting a one-week high after the minutes of the Federal Reserve's latest meeting backed market expectations for borrowing costs to rise further.

Globally, oil prices inched up on Thursday amid ongoing tensions over the death of a prominent Saudi journalist, with prices steadying after a big drop overnight due to a jump in U.S. crude stockpiles.

(With inputs from agencies)