Indian equity market closed due to Mahavir Jayanti

Stock markets were closed on Wednesday due to Mahavir Jayanti, one of the most important festivals for the Jain community that is celebrated to mark the birth of Lord Mahavir. On Tuesday, equity benchmark indices had touched new milestones amid sustained buying from foreign investors.

The market sentiment was cheerful over initial corporate earnings and prospects of near-normal rains for the monsoon season. Meanwhile, Asian share markets were in the green after positive Chinese economic data. Beijing reported first-quarter economic growth at 6.4 per cent and industrial output surging 8.5 per cent in March from a year earlier.