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Indian Markets Closed For Mahavir Jayanti

Indian markets remain shut today on account of Mahavir Jayanti. There will be no trading activity in the forex and commodity markets as well.

Benchmark indexes Sensex and the Nifty fell over 2 percent on Friday as coronavirus cases in the country continued to rise despite a complete lockdown to curb the spread of the disease.

The rupee settled 53 paise lower at 76.13 against the U.S. dollar after Moody's Investors Service changed the outlook for Indian banking system to negative from stable.

India's toll from the COVID-19 outbreak surged past 100 while the total number of infections went past 4,000.

Globally, the tally of confirmed coronavirus cases has reached 1.27 million with 69,456 deaths, according to according to Johns Hopkins University.

Asian markets remain mostly higher this morning amid signs that Covid-19 cases are reaching a peak in Europe, with France and Italy recording their lowest death toll in one and two weeks respectively.

Gold rose on concerns about heavy damage to the global economy, while oil prices tumbled after a scheduled meeting between the Organisation of the Petroleum Exporting Countries and its allies was delayed.

The British pound fell against the dollar and euro after Prime Minister was admitted to hospital following persistent coronavirus symptoms.

U.S. stocks fell sharply on Friday after data showed the country lost as much as
701,000 jobs in March, marking the first decline in job creation in a decade. The jobless rate surged up to 4.4 percent from 3.5 percent in February.

The Dow Jones Industrial Average shed 1.7 percent, the tech-heavy Nasdaq Composite and the S&P 500 declined around 1.5 percent each.

European markets fell on Friday as a sharp contraction in euro zone business activity and alarming U.S. jobs data fueled fears about an imminent deep recession.

The pan European Stoxx 600 dropped 1 percent. The German DAX slipped half a percent, France's CAC 40 index gave up 1.6 percent and the U.K.'s FTSE 100 lost 1.2 percent.

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