(RTTNews) - Indian equity, currency and debt markets remain closed today for Diwali Balipratipada.
Benchmark indexes Sensex and Nifty eked out modest gains on Friday but ended the week higher by 3.7 percent each on the back of strong inflow of funds by foreign institutional investors (FIIs).
Both the indexes hit fresh record highs in a special Muhurat trading session on Saturday before ending the session about half a percent higher amid gains across the board.
Asian markets are moving higher this morning as strong data from Japan and China spurred hopes of a faster recovery from the coronavirus pandemic. The dollar edged lower, making bullion cheaper for holders of other currencies.
Both Brent and WTI futures remain above the $40 mark on hopes that OPEC+ will continue to curb output.
U.S. stocks rose sharply on Friday as optimism over the prospects of Covid-19 vaccines coupled with positive earnings news from big-name companies like Cisco and Disney helped investors shrug off lingering concerns over a spike in the viral outbreak in the U.S. and Europe.
President Donald Trump's faltering efforts to challenge the election results also eliminated some of the uncertainty about the outcome.
The S&P 500 climbed 1.4 percent to reach a fresh record closing high and the Dow Jones Industrial Average also rose about 1.4 percent while the tech-heavy Nasdaq Composite gained 1 percent.
European stocks finished slightly higher on Friday despite disturbing news about rising coronavirus cases across the world.
The pan European Stoxx 600 ended flat with a positive bias. The German DAX inched up 0.2 percent and France's CAC 40 index rose 0.3 percent, while the U.K.'s FTSE 100 eased 0.4 percent.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
