India’s equity, currency, debt and commodity markets are closed on Wednesday on account of Ram Navami.

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On Tuesday, the Indian equity benchmark indices ended a volatile session lower dragged by selling in IT, financials and FMCG stocks. The Sensex fell 243.62 points, or 0.51 percent to 47,705.80, while the Nifty ended 63.05 points or 0.44 percent lower at 14,296.40.

Broader markets outperformed the benchmarks with the smallcap index ending 1 percent higher.

Among sectors, Nifty IT fell the most followed by Nifty FMCG, Nifty Financial Services and Nifty PSU Bank, while gains were witnessed in pharma, auto, media and metals indices

The 10-year benchmark bond yield ended at 6.075 percent, while the rupee settled at 74.88 to the dollar.

“In a highly volatile trading session on April 20, markets opened on a firm note as the government expanded vaccine reach to people above 18 years. However, more restrictions announced by state governments dented sentiments as the indices pared all the morning gains and ended lower by 0.4 percent at 14,296 levels,” said Ajit Mishra, VP - Research, Religare Broking.

The announcement from state governments and rising COVID-19 cases would continue to remain a critical factor for investors to watch out for in the near term, Mishra added.

“Further, earnings outcomes from Nifty majors would be actively tracked. We maintain our cautious stance for the markets in the near term as increasing restriction would adversely impact economic activities,” he said.