Forex Markets Shut For Buddha Purnima Holiday

Buddha Purnima 2020: Domestic forex as well as debt markets remained shut on Thursday, May 7.

Buddha Purnima 2020 Market Holiday: Domestic foreign exchange (forex) as well as debt markets remained shut on Thursday for Buddha Purnima holiday. The equity as well as commodity markets, however, operated normally. On Wednesday, the rupee had shed 13 paise – or 0.17 per cent – to end at 75.76 against the US dollar. Analysts say the rupee is expected to remain under pressure on account of rising coronavirus cases. The country remained in the third phase of a nationwide lockdown, with few exceptions, to curb the coronavirus (COVID-19) pandemic.

The money markets will resume trading on Friday, May 8.

Equity market benchmark indices S&P BSE Sensex and NSE Nifty 50 fluctuated between gains and losses on Thursday.

At 10:38 am, the Sensex traded 162.73 points – or 0.51 per cent – lower at 31,523.02, while the Nifty was down 42.15 points – or 0.45 per cent – at 9,228.75.

Crude oil prices rose on Thursday amid a weaker-than-expected rise in US inventories, but market watchers predicted further gains could be capped by the ongoing glut in crude supplies as the coronavirus pandemic crushes fuel demand.

Forex Markets Shut For Buddha Purnima Holiday