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Equity Markets to Remain Closed on Monday Due to Bakri Id

Headlines

• Equity markets in India will remain closed on Monday, June 1, due to Bakri Id, a significant Islamic holiday.
• Investors will focus on global trends and trading activity of foreign investors for further cues in a holiday-shortened week ahead.

Market Insights

• With no major immediate domestic trigger in sight, investors will focus on global trends and trading activity of foreign investors for further cues.
• Movement of global oil benchmark Brent crude and rupee-dollar trend will also guide the market.
• Analysts expect sector-specific movements amid budget-related buzz, with key factors to watch including progress of monsoon and institutional flows.

Expert Insights

• "This week is a truncated one with no major triggers expected. However, we anticipate sector-specific movements amid budget-related buzz. Key factors to watch will be progress of monsoon and institutional flows," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
• "This week, shortened by a holiday on Monday, will see participants looking to global markets, particularly the US, for cues in the absence of major events," Ajit Mishra SVP, Research, Religare Broking Ltd.
• "We expect market uptrend to continue this week supported by positive macro trends, expectation of sustained government spending and policy continuity, healthy monsoon and strong earnings," said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

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Market Performance

• Last week, the BSE benchmark climbed 299.41 points or 0.39 per cent, while the Nifty advanced 175.45 points or 0.75 per cent.
• The BSE Sensex hit its all-time high of 77,145.46 on June 13, while the Nifty reached its lifetime peak of 23,490.40 on June 14.

Conclusion

• Equity markets in India will remain closed on Monday, June 1, due to Bakri Id.
• Investors will focus on global trends and trading activity of foreign investors for further cues in a holiday-shortened week ahead.
• Analysts expect sector-specific movements amid budget-related buzz, with key factors to watch including progress of monsoon and institutional flows.

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