The National Stock Exchange of India (NSE) and the BSE will remain closed on April 2 on account of Good Friday.
Wholesale commodity markets, including metal and bullion, will also remain shut. And there will be no trading activity in the forex and commodity futures markets either.
On April 1, the Sensex ended 520.68 points or 1.05% higher at 50,029.83, and the Nifty rose 176.70 points or 1.20% to close at 14,867.40.
“Once again Nifty has nudged closer to the important level of 14950. Due to a trading holiday tomorrow, we would need to evaluate this next week. If we can cross 14950, we should be able to resume the uptrend and head towards 15300,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
“If we resist and take a U-turn again, we will be sideways and if we break 14500, we will revisit the recent lows of 14200-14250,” he said.
“Hence, we are at a crucial juncture from where a trading opportunity on the upside or downside may emerge,” he added.
Barring FMCG, all other sectoral indices ended in the green with the Nifty metal index rising 5 percent and the PSU bank index ending 2.6 percent higher.
JSW Steel, Hindalco, Tata Steel, Adani Ports and IndusInd Bank were among top gainers on the Nifty, while losers included HUL, HDFC Life, Nestle, TCS and HDFC Bank.
“Markets started the new financial year on a robust note led by optimism in the global markets. The announcement by US President Joe Biden to invest USD 2.3 trillion in infrastructure boosted sentiments,” said Ajit Mishra, VP – Research, Religare Broking.
“Markets are likely to take cues from global peers as stimulus package announced in the US last night led to renewed buying interest in the global markets.”
“In the near term, positive bias is expected to continue, however, rising COVID cases in India would remain a key concern. As Q4 earnings season is approaching, investors focus will shift to earnings announcements and management commentary,” Mishra added.
On BSE, the metal index rose 5.4 percent and the power index added 2.7 percent. Also, auto, bank, capital goods, and oil & gas indices rose over a percent each.
BSE Midcap and Smallcap indices added 1.6-2 percent.