On March 04, 2019, The BSE and the National Stock Exchange (NSE) are shut for trade on account of Mahashivratri. Also, all wholesale commodity markets, including metal and bullion, as well as the forex and commodity futures markets are closed for trade. Bulls were back in action on Dalal Street on March 1. The Sensex closed above psychological 36,000 with gains of nearly 200 points and the Nifty50 managed to end above its 200-day simple moving average placed around 10,862.
However, the easing geopolitical tensions and positive global cues on the hope of a trade deal between the US and China lifted investors sentiments. The broader markets staged spectacular performance with the Nifty Midcap and Smallcap indices rallying 1.44 percent and 2.7 percent on Friday and rising 2.5 percent and 3.6 percent, respectively for the week. The market breadth was also strongly in favour of bulls as about four shares advanced for every share falling on the NSE. Among Nifty50, the advance and decline ratio was 5:1.
"Positive developments between the US and China has kept the mood upbeat for the global markets while signs of de-escalation of tensions between India and Pakistan is encouraging for Indian markets," Jayant Manglik, President at Religare Broking told Moneycontrol.
He expects markets to remain volatile in the near term. India-Pakistan border situation, progress on US-China trade war, crude oil and currency movement would be actively tracked by the investors, he added.
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