Indian Markets Closed For Republic Day

Indian stock markets remain closed today on account of Republic Day. Currency markets will also remain closed for the day but trading in the commodity derivatives segment will be conducted during the evening session, as per the exchange schedule.

Benchmark indexes Sensex and Nifty tumbled over 2 percent last week, leading to investors losing over Rs 16 lakh crore as the rupee sank to a record low against the dollar on continued foreign fund outflows.

The India-European Union free trade agreement (FTA) is expected to be announced on January 27 after nearly two decades of hard bargaining on both sides.

As Russian oil imports fall, the United States has hinted at removing the additional 25 percent tariffs on India.

Asian markets were mostly lower this morning after all three U.S. benchmark indexes suffered their second straight weekly declines.

Tariff worries returned to the fore after U.S. President Donald Trump threatened to slap a 100 percent tariff on Canadian exports if Ottawa “makes a deal” with China.

Canadian Prime Minister Mark Carney clarified that his country has no intention of pursuing a free trade deal with China and that a recent deal with China merely resolved some tariff-quota issues between the two countries.

Tensions between the U.S. and Iran also kept investors on edge. As U.S. warships head to the region, media reports suggest that Iran’s Supreme Leader Ayatollah Ali Khamenei has reportedly gone underground. Authorities in Iran have unveiled a new mural in a central Tehran square with a direct warning to the United States to not attempt a military strike on the country.

In the United States, the risk of another partial government shutdown is rising after Democratic senators threatened to block a federal funding bill that includes funding for the Department of Homeland Security (DHS).

Statements and protest sentiments among lawmakers emerged following the second shooting death of a civilian by federal agents in Minneapolis.

A Federal Reserve interest-rate decision and earnings from big tech companies also remain on investors’ radar this week.

The dollar weakened against major currencies amid speculation over possible Japanese intervention to halt the currency’s recent slide – possibly with U.S. assistance.

Gold topped $5,000 an ounce for the first time, rising nearly 2 percent toward $5,100 an ounce in early Asian trade.

Oil prices were little changed after climbing more than 2 percent in the previous session.

U.S. stocks ended mixed on Friday after ending sharply higher over the two previous sessions amid eased Greenland worries.

The mixed performance came as Iran-U.S. tensions escalated and chip maker Intel offered disappointing guidance for its first-quarter revenue.

Investors ignored data that showed a measure of U.S. consumer sentiment rose for a second straight month in January to reach its highest level in five months.

The Dow dipped 0.6 percent, while the S&P 500 inched up marginally and the tech-heavy Nasdaq Composite added 0.3 percent.

European stocks ended little changed on Friday as investors weighed regional PMI data and U.S. President Trump’s renewed threats against Iran.

The pan European Stoxx 600 slipped 0.1 percent to snap a five-week winning run – its longest since May.

The German DAX edged up by 0.2 percent while France’s CAC 40 and the U.K.’s FTSE 100 both finished marginally lower.