Stock market closed today on account of Good Friday: Investing in the week ahead



News24

LAST UPDATED: April 2, 2021, 1:12 p.m.

New Delhi (Anish Yande): The Bombay Stock Exchange National Stock Exchange of India would be closed on Friday on account of Good Friday. The wholesale commodity markets would stay closed on April 2 as well. The metal, forex, and commodity futures markets are closed. 

On April 1, Sensex closed at 50,029.83, at an increase of 1.05 percent and Nifty increased to 14,867.40, to close at an increase of 1.20 percent on Thursday. The index rose by 176.70 points on the previous close. 

The Nifty metal index increased by 5.3 percent, the PSU bank index was up by 2.6 percent and the auto index increased by 1.6 percent.

Stocks to watch in the week ahead:

HCL Technologies:

HCL Technologies has finalized an agreement with Tenneco Inc. Tenneco is an automotive supplier and manufacturer. The agreement between the two firms would involve a multi-year, integrated application development, modernization, and operations services contract. 

HCL Tech would be assisting Tenneco in improving their IT operations,  global IT application portfolio, and reducing technical complexities. 

Bank shares:

Banks such as Indian Overseas Bank, Bank of India, and Central Bank of India saw an incline in shares this week. The Indian government infused Rs 14,500 crore in the banks. 

The government would be infusing Rs 4,100 crore in Indian Overseas Bank and infusing Rs 3,000 crore in the Bank of India. UCO Bank would receive an infusion of Rs 2,600 crore in government.  

Meanwhile, the State Bank of India has signed a loan agreement with Japan Bank for International Cooperation. The loan agreement amounts to $1 billion.

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Shares of Bank of India reached an intraday high of Rs 72.3 on Thursday. The shares of the Bank of India have increased by 42.24 percent since the beginning of 2021. Shares of Indian Overseas Bank were in the upper circuit of Rs 16.75 on BSE. The shares have risen by more than 5 percent within two days. 

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