As voting for the Lok Sabha elections is being held in Mumbai today, the share market will remain closed. Both the leading stock exchanges, BSE and NSE, have announced trading holiday for today. Forex and money markets are also closed for the day.
Share trading will resume tomorrow but will again be shut on Wednesday to mark Maharashtra Day. With two holidays, share markets will have only three trading days this week.
Mumbai has six Lok Sabha seats where voting is being held from 7 am to 6 pm. The Sensex had rallied 336 points to reclaim the 39,000-level on Friday, capping off a volatile week where investors grappled with flaring oil prices and sudden sell-offs at higher levels.
On similar lines, the NSE Nifty climbed 112.85 points, or 0.97%, to 11,754.65.
Markets are expected to remain volatile this week. Crude oil price fluctuations, rupee movements, corporate earnings and the Federal Reserve’s decision on interest rate will drive Indian markets.