The National Stock Exchange (NSE) of India and BSE Ltd (earlier known as Bombay Stock Exchange) were closed on Wednesday on account of Dr Baba Saheb Ambedkar Jayanti.
Wholesale commodity markets including metal and bullion were also shut. There was no trading activity in forex and commodity futures markets either.
A day earlier, the BSE S&P Sensex closed 661 points or 1.35 per cent higher at 48,544 while the Nifty 50 edged higher by 194 points or 1.36 per cent to 14,505.
Stocks rose as the government fast-tracked emergency approvals for foreign-produced Covid vaccines amid an alarming spike of coronavirus infections across India.However, investors remain worried about the economic fallout of fresh restrictions announced by several state governments. Market analysts say a complete lockdown will derail the pace of nascent economic recovery.
Reports of vaccine shortage and the sluggish pace of vaccination have added to the worry that the pandemic may cause more damage than expected.
Meanwhile, global equity markets rose to a fresh record high on Wednesday as bond yields eased after data showed US inflation was not rising wildly.
Most Asia Pacific share indexes followed Wall Street higher with Hong Kong's Hang Seng leading gains in the region.
Japan bucked the trend with the Nikkei falling 0.4 per cent as rising coronavirus cases raised doubts about an economic reopening with 100 days to go until Tokyo is scheduled to host the Olympics.
( With inputs from ANI )
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