Mutual funds declare Golden Monday a non-business day
The mutual fund industry has declared a non-business day today. Most fund houses will not be processing any requests for redemption or fresh purchases based on today’s net asset value.
Trading on both the BSE and the NSE has been halted for the day as markets hit a 20% upper circuit, after re-opening for trade. At the beginning of today’s trade, 9:55 am, the markets were locked at 15% upper circuit and exchanges halted the trade for two hours.
The UPA’s (United Progressive Alliance) clean sweep win has cheered the markets and helped the benchmark indices to hit 20% upper circuit. (Also Read – See full Budget in 45 days from govt formation: Chidambaram)
The 30-share Sensex closed 2,110.79 points or 17.34% higher at 14,284.21 and the Nifty surged 651.50 points or 17.74%, to settle at 4,323.15. The Sensex saw the 14,000 mark and the Nifty surpassed the 4,300 level for the first time since September 22, 2008. The Nifty May futures ended with 46.85 points premium.
