BSE, NSE to remain close on July 28

Televisionpoint.com Team
The Bombay Stock Exchange, BSE and the National Stock Exchange, NSE, will remain to be closed tomorrow, July 28, due to the Heavy Rains in Mumbai, so as, these stock markets will be shut on Thursday, thereby No Trading in the financial capital of the country. Consequently, the last day for settling the derivatives contracts for July has been postponed to Friday.

The Sensex index has crossed the 7600 mark, a Life Time High, the BSE index touched 7,602.48 points and was quoted at 7,598.81 points, up 0.61 percent, shortly after. The Sensex and the Nifty put on a good show though trading volumes were low at RS 23,852 Crores.

The Sensex gained 52.61 points to close at 7605.38 while the Nifty crossed the 2300 mark to close at 2318.65. Turnover was low due to the flooding in several areas and brokers being unable to go to their workstations. The total turnover on both the exchanges was RS 23,852 Crores. against RS 30,701.4 Crores. on Tuesday.

The BSE, however, functioned as most of the staff was kept in the exchange overnight. There was a spirit of camaraderie and the BSE looked liked a well-managed relief camp, said a leading broker. The executive director, MR Rajnikant Patel, saw to the comfort of the staff and even arranged for the showing of the film Bunty and Babli.

However, both the Bombay Stock Exchange and the National Stock Exchange have decided to close the markets on Thursday as the Reserve Bank of India has declared a bank holiday on Wednesday and Thursday. The state government has also declared a public holiday on these two days. The bond markets and the forex markets remained closed on Wednesday and will remain close on Thursday as well.

The Rains in Mumbai have pounded the entire Maharashtra state with more than 100 people loosing their lives. Accordingly the rains will continue for nearly 36 hours from now.