Stock market closed today for Mahavir Jayanti, but Trump’s curveball sets up Friday drama

A mid-week pause in trading comes as markets brace for a dramatic rebound. The Indian stock exchanges will remain closed on Thursday, April 10, for Mahavir Jayanti. But when trading resumes Friday, April 11, a mix of global and domestic cues is expected to drive a sharp opening surge.

All segments of the Indian stock market—equities, derivatives, currency, SLB, and EGR—will remain closed on Thursday in observance of Mahavir Jayanti, a key Jain festival commemorating the birth of Lord Mahavir. Trading will resume on Friday, April 11.

When markets reopen, early indicators suggest a strong start. GIFT Nifty trends point to a 2.5 percent gain after US President Donald Trump announced a 90-day tariff pause for over 75 nations. 

The move, seen as a response to global pressure, triggered a massive rebound in global equities overnight. The S&P 500 rose 8 percent, the Dow Jones rallied 2,300 points, and the Nasdaq soared 10 percent.

Despite increasing tariffs on Chinese goods to 125 percent, the broader investor sentiment flipped positive, with relief spreading across major indices.

Adding to the momentum is the Reserve Bank of India’s latest rate cut—its second in a row. Anirudh Garg, Partner and Fund Manager at Invasset PMS, said in a report that RBI had clearly shifted its focus towards growth, noting that with inflation expectations anchored and the FY26 CPI forecast lowered to 4 percent, the central bank had created room to support demand without endangering macroeconomic stability.

VK Vijayakumar of Geojit Financial Services said India may be among the least impacted large economies in this “Trump shakeout.” Lower crude prices are also expected to cushion macro pressures.

Markets had been under pressure prior to the holiday. On April 9, both the Sensex and Nifty closed lower, dragged down by IT, metal, pharma, and PSU bank stocks. Midcap and smallcap indices also weakened.

Trading holidays later this month include April 14 (Ambedkar Jayanti) and April 18 (Good Friday). Normal trading hours will resume Friday—from 9:15 a.m. to 3:30 p.m.