Indian stock markets shut today for Mahavir Jayanti
So far, RBI has raised the repo rate, the rate at which it lends to banks, by 250 basis points cumulatively since May 2022.
New Delhi: Indian stock markets will remain shut on Tuesday (today), on account of Mahavir Jayanti. The usual trade will resume Wednesday.
Later this week, on Friday, too, the markets will be closed for Good Friday.
Again, on April 14, markets will be shut for trade on account of Dr. Baba Saheb Ambedkar Jayanti.
Meanwhile, on Monday, Indian stock indices closed marginally higher as investors at large are eyeing the outcome of the three-day Reserve Bank of India’s monetary policy committee meeting, the first in 2023-24 which started Monday.
At the latest Monetary Policy Committee (MPC) of the RBI in early February, it decided to raise the repo rate by 25 basis points to 6.5 per cent to manage inflation.
So far, RBI has raised the repo rate, the rate at which it lends to banks, by 250 basis points cumulatively since May 2022.
Raising interest rates is a monetary policy instrument that typically helps suppress demand in economy, thereby helping the inflation rate decline.