Financial markets will remain closed on May 1, 2020, on account of Maharashtra Day. Both the equity market exchanges i.e. Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will be shut today due to the holiday. Besides equity, commodity, as well as derivatives (Futures and Options) markets, will also remain shut.
There will be no trading activity in currency and bond markets as well.
This day is also being celebrated as Labour Day, which is observed as a public holiday in many countries like India.
On Thursday, BSE Sensex ended 997 points higher at 33,717 and NSE Nifty climbed 306 points to 9,859.
The currency benchmark rupee settled at 75.12 per dollar as compared to its last close of 75.68 per US dollar.
Domestic indices ended at fresh 7-week highs, in line with the overseas trend, as investors turned optimistic over reports of ease of lockdown restrictions and banked on hopes for more stimulus packages by central banks and governments.
FIIs and DIIs both being positive also added optimism to markets, experts said.
According to experts, news about positive trial results of an experimental COVID-19 treatment helped global investors shrug off weak economic data.
Investors were optimistic globally after Gilead Sciences's remdesivir, a US-based biotech company said on Wednesday that its experimental drug has proved effective against the new coronavirus.
BSE and NSE will resume trading on Monday, May 4.