Markets shut today; key data to set tone in week

The domestic equity markets will remain shut for trading on Monday on the occasion of Gurunanak Jayanti. 

Both BSE and the National Stock Exchange have been experiencing volatility, and were in the red for most trading sessions in the past week, after the government moved to remove Rs 500 and Rs 1,000 notes from the system. 

Prime Minister Narendra Modi, announced to the nation last week that the two bank notes, the highest denominations of rupee notes, will be replaced with new Rs 500 and Rs 2,000 notes, in yet another effort by the government to bring black money back into the system and to rein in terror funding. 

On Friday, BSE closed the week at 26,818.82, down 698.86 points or 2.54% lower from previous close. NSE Nifty closed at 8,296.30, down 229.45 or 2.69% from previous close. 

This week, the Society of Automobile Manufacturers will release the vehicles sales data for the month of October, while the government will also release data about Foreign Direct Investment inflows into the country in September. 

The Commerce and Industry Ministry  will release wholesale inflation and consumer inflation figures for October on November 15, while the month-long Parliamentary winter session will go underway from November 16. All this data is will set the tone for markets this week.