Indian stock markets, the BSE (formerly known as the Bombay Stock Exchange) and the National Stock Exchange of India (NSE), will remain closed for trading on account of Republic Day on January 26.
This is the first market holiday of the year, and will likely give breathing space to traders amid heightened volatility in the market.
The wholesale commodity markets, including metal and bullion, will also remain shut. There will be no trading activity in the forex and commodity futures markets either.
On Tuesday, indices bounced back after five consecutive days of fall as investors preferred to buy stocks at low levels. However, weak global cues kept gains in check.
Indian benchmark indices closed in the positive by gaining 366 points at 57,858. The Nifty 50 of the National Stock Exchange closed 128.85 points or 0.75 per cent higher at 17,277.9. In the broader markets, the BSE midcap and small cap indices advanced over 1 per cent.
Auto stock Maruti Suzuki was the top index gainer after posting a consolidated net profit at Rs 1,041.8 crore for the December quarter, above expectations. Axis Bank, SBI, IndusInd Bank, Bharti Airtel, PowerGrid and NTPC were also among top supporters. Wipro, Infosys, Tech Mahindra and Bajaj Finserv, Titan, UltraTech Cement were the top laggards.
Among sectors, the Nifty PSU Bank index was the top gainer as it gained over 4 per cent. The Nifty Bank and Auto indices were other outperformers, up over 2 per cent each. The Nifty IT index was the only laggard, down 0.3 per cent.
In the broader market, the BSE MidCap index ended 1 per cent higher while the BSE SmallCap index added 0.8 per cent.
From this space, the shares of SBI Cards and Payment Services ended over 4 per cent higher after the firm reported an 84 per cent jump in net profit for December quarter 2021.
Besides, shares of Zomato ended 10 per cent higher at Rs 100.5 per share as analysts retained their positive outlook on the stock.
Gold and silver prices edged higher in Indian markets on Tuesday but the gains were muted amid flat global rates. On MCX, February gold futures were up 0.1 per cent to one-month high of Rs 48,613 per 10 gram while silver rose 0.17 per cent to Rs 64,069 per kg.
In global markets, gold was steady fuelled by escalating Ukraine tensions but concerns about a faster pace of US Federal Reserve policy tightening capped gains. Spot gold was little changed at $1,840.24 per ounce while silver fell 0.8 per cent to $23.77 an ounce.
The stock markets will have a total of 13 holidays in 2022, as per the data available on the BSE website. The next stock market holidays will fall on Mahashivratri on March 1 and Holi on March 18.
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