Domestic stock, bond, commodity and forex markets will remain closed on Monday on account of Ganesh Chaturthi.

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On Friday, benchmark indices ended with strong gains with the Nifty settling above the 11,000-mark led by pharma, metal and consumer shares with auto and banks also supporting. The BSE Sensex ended 263 points higher, or 0.71 percent, to close Friday's trade at 37,332. The NSE Nifty50 also jumped 75 points, or 0.68 percent, to 11,023. The Nifty MidCap index outperformed rising 0.95 percent.

Globally, Wall Street stock futures weakened in early trade on Monday, setting a dour tone for Asian markets after tit-for-tat tariffs between the United States and China took effect, reinforcing investors’ gloomy expectations for global growth prospects.

The United States slapped 15% tariffs on a variety of Chinese goods on Sunday - including footwear, smartwatches and flat-panel televisions - while China imposed new duties on US crude, the latest escalation in a bruising trade war.

MSCI’s broadest index of Asia-Pacific shares outside Japan, which lost 4.7 percent last month, is likely to stay under pressure. Japan's Nikkei is on course to fall 0.7 percent.

First Published:Sept 2, 2019 7:51 AM IST