Asian markets were mixed in early trade on Monday, despite Wall Street hitting record highs last week. At the same time, on the occasion of Guru Nanak Jayanti, the Indian stock market, bonds, and money markets are closed today. Wall Street rose to highs amid good news about the Kovid-19 vaccine and hopes of an improvement in the global economy.
Japan's benchmark Nikkei-225 gained 26% to 26,657.18 points in early trade. Other markets lost their initial gains and were trading at a loss. South Korea's Kospi lost 0.3 percent to 2,624.86 points. Australia's S&P / ASX-200 slipped 0.8 percent to 6,550.80 points. Similarly, Hong Kong's Hang Seng was trading at 26,848.91 with a loss of 0.2 percent. However, China's Shanghai Composite was up 1.3 percent at 3,451.31 points.
BSE and NSE closed
Today the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) are not traded. Trading will begin normally on the stock market again on December 2.
Commodity and Forex market also closed
Today the commodity and forex markets are also closed. Whole-cell commodity markets, including metals and bullion, are not traded. Also, no business is being done in Commodity Future. Normal operation in these markets will start on Tuesday.
The market will be affected by these factors
Investors will monitor the results of the RBI meeting, vehicle sales data, daily cases of Coronavirus Kovid-19 infection, and Corona vaccine news before investing in the market this week. Analysts said that the trend of foreign institutional investors, crude oil prices, rupee move, and economic data released on Friday will also have an impact on the stock market.
Weekly market growth in the past week
The stock market recorded a weekly gain last week. The Bombay Stock Exchange's leading index Sensex gained 267.47 points, or 0.61 percent, to 44,149.72 points, and the National Stock Exchange's Nifty jumped 109.90 points, or 0.85 percent, to 12,968.95 points.
Five of the top 10 companies fall in market capitalization
The market capitalization (market cap) of five of the top 10 Sensex companies fell by Rs 91,699 crore collectively last week. Reliance Industries was the biggest loser. Apart from Reliance Industries, the market capitalization of Infosys, HDFC, ICICI Bank, and Bharti Airtel also declined. On the other hand, market valuations of Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever, Kotak Mahindra Bank, and Bajaj Finance increased.