The day marks the last trading holiday for the market in the current calendar year. The market will resume trading on Monday, November 22.
Meanwhile, the domestic market tanked sharply in the last three trading sessions, clipping nearly 1,100 points as inflationary pressure dealt heavy blows to the bulls. The weak listing of the mega IPO of
also hit investor confidence.
The 30-share pack Sensex dropped 372.32 points or 0.62 per cent to close at 59,636.01 on Wednesday. Its broader peer NSE Nifty declined 133.85 points or 0.75 per cent to 17,764.80.
Analysts expect the weakness in the market to continue going forward as valuations have surged to astronomical levels. Moreover, macro factors are also turning for the worse.
Both the S&P 500 and the Nasdaq eked out record closing highs after a topsy-turvy Thursday on Wall Street, as investors focused on upbeat retail and technology earnings which outshone hawkish inflation comments from a Federal Reserve policymaker.
Asian shares fell as disappointing earnings from Chinese e-commerce giant Alibaba heightened worries about Beijing’s broad regulatory crackdown and slowing growth in the world’s second-biggest economy.