MUMBAI India's bond, currency and stock markets are closed on Wednesday for a religious holiday. Trading resumes on Thursday.
On Tuesday, the BSE index climbed 1.65 percent, or 305.07 points, to 18,842.08, its highest close since November 8, and is just 295 points away from a year-high.
The Nifty gained 1.62 percent, or 91.55 points, to 5,727.45. Both the indices posted their biggest gains since September 21.
The benchmark 10-year bond yield ended 1 basis point lower at 8.19 percent.
The partially convertible rupee closed at 55.45/46 per dollar, 0.5 percent firmer than its previous close of 55.73/74. <INR/> (Reporting by Swati Bhat)
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With the crucial GDP data scheduled to be announced along with key corporate results, volatility is expected to prevail in the upcoming week. Disappointment on these fronts may push the Nifty down to the 7,200-7,500 range. Once we witness stability and consolidation, investors should increase their exposure, says Ambareesh Baliga. Full article