Indian financial markets closed

MUMBAI: India’s equity, currency and debt markets will be closed on Tuesday, March 3, for a local holiday. Trading will resume on Wednesday, March 4.

The Nifty 50 dropped 1.24 percent to settle at a one-month low of 24,865.70 on Monday, while the BSE Sensex shed 1.29 percent to 80,238.85, its lowest close in six months, as the escalating Middle East conflict pushed crude prices higher and triggered investor flight to safe havens.

The Indian rupee dropped 0.54 percent versus the US dollar to 91.4700, as the escalating military conflict in the Middle East kept global financial markets on edge.

The benchmark 10-year bond was quoted at 98.625 rupees, with the yield up more than 1 bp at 6.6753 percent.