Indian Markets Closed For Diwali

(RTTNews) - Indian markets remain closed today on the eve of Diwali. However, stock exchanges BSE and NSE will conduct the special 'muhurat trading' for one hour later today between 6:15 pm and 7:15 pm.

The block deal session will take place from 5:45 pm to 6 pm and the pre-opening session will be held between 6 pm and 6:08 pm, the exchanges said in a circular.

After a muted performance in Samvat 2078 that saw benchmark indexes falling around 1.4 percent, market experts are forecasting a better show over the next 12 months.

Meanwhile, the exchanges will remain closed on October 26, on the occasion of Diwali Balipratipada.

Asian stocks traded mixed this morning, with Chinese and Hong Kong markets falling sharply as Xi Jinping secured a third term as Chinese President and official data showed Chinese Q3 GDP grew by 3.9 percent from a year ago, well below the official target of around 5.5 percent.

The monthly indicators for September painted a mixed picture. Retail sales growth slowed from August and the urban jobless rate nudged up, while industrial output growth exceeded forecasts.

The data, originally scheduled for release on Oct. 18, was delayed amid the key Communist Party Congress last week.

Gold held steady this morning after climbing 1.8 percent in the previous session. The dollar index rose slightly while oil dipped amid lingering concerns over a global economic slowdown.

U.S. stocks rallied on Friday to notch their best week since June, as treasury yields showed a notable downturn on reports that Fed officials will likely debate on a smaller interest rate hike in December, following a widely expected 75 basis point increase in early November.

The Dow climbed 2.5 percent to reach its best closing level in over a month, the tech-heavy Nasdaq Composite surged 2.3 percent and the S&P 500 added 2.4 percent.

European stocks cut early losses to end on a mixed note Friday as the U.K. political turmoil continued.

The pan European Stoxx 600 gave up 0.6 percent. The German DAX slipped 0.3 percent and France's CAC 40 index shed 0.9 percent while the U.K.'s FTSE 100 rose 0.4 percent.