The Bombay Stock Exchange (BSE) and the National Stock Exchange will remain shut today for any trading, including currency, debt and equity, on account of Ram Navami.
Stock markets will resume trading on Friday, April 3.
On the first day of the new financial year, the Sensex closed at 28,265.31, witnessing a fall of 1,203.18 points. On the other hand, Nifty ended 343.95 points lower at 8,253.80.
Companies like Kotak Mahindra Bank, Tech Mahindra, TCS, Infosys and UPL registered a big fall in their stock price on the Nifty, while Grasim, Bajaj Auto, Bajaj Finance, Hero MotoCorp and Titan Company were among the gainers.
BSE Midcap and Smallcap indices also witnessed a decline of 1-2 per cent.
If the new trading calendar of the trading market is anything to go by, stock markets this year will be closed on a lesser number of days compared to last year. The market will remain shut for 12 days in 2020, besides Saturday and Sunday. But last year the BSE and the NSE got 17 holidays, apart from Saturday and Sunday.
Stock markets have been dealt a big blow in the face of the coronavirus outbreak. Apart from the pandemic, crude oil war impacted the markets badly.
The Sensex, which had crossed 40,000-mark in the last financial year, is hovering around 28,000.
Not only in India but the deadly virus has also spooked the markets across the world and sparked fears of a global recession.
The pandemic has also hit the small business owners, farmers and daily wagers.