Eid-al-Fitr holiday for markets

Mumbai: All the major markets including BSE, NSE, forex, money, bullion, oilseeds and other commodities except sugar, will remain closed on Wednesday on account of Eid-al-Fitr (Ramzan Id). Copra and Commodity markets will remain closed in Kozhikode on account of Eid-al-Fitr.

Asian markets turned tail on Wednesday as fears over instability in the European Union returned with a vengeance, sending the pound to three-decade lows and hammering risky assets of all stripes. Nikkei fell 1.85 percent and Hang Seng dropped 0.95 percent, while Shanghai composite edged up 0.36 percent.

Asian markets turned weaker as Nikkei fell 1.85 percent and Hang Seng dropped 0.95 percent, while Shanghai composite edged up 0.36 percent. Oil prices slightly recovered from early losses in Asian trading amid the wider market turmoil. US crude was up four cents at $46.64 a barrel after initially gaining then falling in thin trade.

Oil prices slightly recovered from early losses in Asian trading on Wednesday amid the wider market turmoil. Mounting concerns over the economic impact of Britain’s vote to leave the European Union is impacting the market sentiment. US crude was up 4 cents at $46.64 a barrel after initially gaining then falling in thin trade. The contract fell five percent to end at $46.60 on Tuesday as US investors digested news of an OPEC increase in production after the July 4 holiday on Monday closed trading.

Oil prices fell earlier tracking losses across equities and currency markets as fresh fears about the impact of Britain’s exit from the EU sent investors fleeing high-risk assets. A warning from the Bank of England that there was evidence risks from the June 23 Brexit vote have begun to crystallise sent shudders through world markets, with the pound diving to levels not seen since mid-1985 and stock markets diving.

Source: PTI/ AFP