Indian Markets Closed For Holi

(RTTNews) - Indian financial markets remain shut today on account of Holi festival.

Benchmark indexes Sensex and the Nifty ended on a flat note Wednesday as intraday weakness in the rupee and rising oil prices prompted traders to book some profits following a seven-session winning streak.

Asian stocks remain broadly higher this morning, with markets in Japan closed for a public holiday.

The dollar steadied after falling in the previous session as the Fed abandoned projections for any interest rate hikes this year and unveiled a long-term plan to end to its balance-sheet contraction.

Gold held near a three-week high and China's yuan hit its strongest since July, while oil prices eased from four-month high on growth worries.

The Bank of England is expected to hold interest rates at 0.75 percent when it reviews its monetary policy today.

On the Brexit front, British Prime Minister Theresa May on Wednesday wrote to the European Union seeking extension of the Brexit negotiation until June 30.

Overnight, U.S. stocks ended a volatile session on a mixed note after the Fed left interest rates unchanged and indicated it no longer expects to raise rates this year, keeping in view a slowdown in growth from the solid rate seen in the fourth quarter of 2018.

While the tech-heavy Nasdaq Composite inched up 0.1 percent to reach a fresh five-month closing high, the Dow dropped 0.6 percent and the S&P 500 eased 0.3 percent.

European markets slipped from near six-month highs on Wednesday as investors booked some profits after a five-day rally amid concerns surrounding China-U.S. trade talks and the Brexit saga.

The pan European Stoxx 600 shed 0.9 percent. The German DAX tumbled 1.6 percent, France's CAC 40 index slid 0.8 percent and the U.K.'s FTSE 100 declined half a percent.
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