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BSE, NSE shut on Monday for Ganesh Chaturthi

Forex markets will also remain shut on Monday.

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Domestic stock exchanges BSE and National Stock Exchange (NSE) will remain shut on Monday on the ocassion of Ganesh Chaturthi. 

On Friday, the 30-share benchmark Sensex closed up over 100 points. It closed the week at 28,532.11, up 108.63 or 0.38% from the previous close. 

The wider NSE Nifty closed at 8,809.5, up 35 points or 0.40% from the previous close. 

The money market will also remain shut on Monday

On Monday, the Asian markets were strong on cues from the US markets. The Wall Street edged higher after damp jobs data eased the hopes of a interest rate hike in September. US nonfarm payrolls rose by 151,000 jobs in August after an upwardly revised 275,000 increase in July. Economists polled by Reuters had expected payrolls to rise by 180,000. 

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.5 percent higher in early trade. Japan's Nikkei stock index surged 1 percent to three-month highs, a Reuters report said. 

The US Federal Reserve Chair Janet Yellen, at a recent speech in Jackson Hole, had indicated that a rate hike in the US may come this year, thanks to an improving economy. A move in that direction would tighten liquidity in the economy, pushing stock indices down. 

Equities had remained under pressure for a few sessions since the Jackson Hole meet, but now, after lesser-than-expected jobs data, Wall Street and Asian markets gained some strength which the dollar eased. 

Markets priced in a 21% chance of a Fed interest rate increase this month on Friday, down from 24% the previous day, according to CME Group's FedWatch program. But the odds for a December hike edged up to 54.2% from 53.6% on Thursday.

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