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List of NSE and BSE Stock Market Holidays in 2022

The <keyword id="50847" type="General" weightage="20" keywordseo="Reserve-Bank" source="Orion">Reserve Bank</keyword> of India (<keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword>) has extended the last date for periodic KYC update till March 31, amid Omicron uncertainties and has advised banks and other regulated entities not to take restrictive action against customers till the fiscal end. Earlier in May, the RBI had extended the last date for updation of KYC by regulated entities till December-end because of the second wave of the coronavirus pandemic. <br /><br /> "In view of the prevalent uncertainty due to new variant of COVID-19, the relaxation provided in the ... circular (relating to Periodic Updation of KYC - Restrictions on Account Operations for Non-compliance issued in May) is hereby extended till March 31, 2022," the RBI said on Thursday. <br /><br /> In May, the RBI had advised the regulated entities not to impose punitive restriction on operations of accounts of customers for their failure to comply with the KYC updation norms till December-end.<br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/list-of-nse-and-bse-stock-market-holidays-in-2022/articleshow/88585352.cms">NSE and BSE in 2022 — List of stock market holidays in the new year</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbl-banks-stock-slumped-nearly-10-even-as-rbi-approves-interim-head-for-the-bank/articleshow/88584214.cms">RBL Bank slides back to its lowest in a year despite a new chief and RBI's assurances</a>

RBI extends deadline for periodic KYC update by three months till March 31, 2022

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> started the New Year on a muted note, declining 14 paise to close at 82.75 (provisional) against the US dollar on Monday as rising <keyword id="102132" type="General" weightage="20" keywordseo="crude-oil-prices" source="Orion">crude oil prices</keyword> and sustained foreign fund outflows weighed on investor sentiment.<br /><br />Forex traders said the support from firm domestic equities and weak American currency was negated by the gains in crude oil prices and sustained foreign fund outflows.<br /><br />At the interbank foreign exchange market, the rupee opened lower at 82.66 against the greenback and witnessed an intra-day high of 82.56 and a low of 82.78.<br /><br />It finally settled at 82.75, down 14 paise over its previous close.<br /><br />On the last trading day of 2022, the rupee had settled at 82.61.<br /><br />"The Indian rupee started the first trading day of the new year with a small loss as many markets remained closed on account of the New year Holiday.<br /><br />"The rupee was unable to hold the morning gains in absence of inflows. The thin trading volumes, stronger domestic equities and better-than-expected PMI readings were falling short to support the rupee," said Dilip Parmar, Research Analyst, HDFC Securities.<br /><br />The near-term focus will remain on the Federal Open Market Committee (FOMC) meeting minutes, scheduled to be released on Wednesday.<br /><br />"Spot USD-INR is still stuck in a three-week range of 82.50 to 82.95. We believe the said range could be resolved by the weekend as liquidity returns with traders coming back to their desks after the New Year holiday," Parmar added.<br /><br />The <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, was trading 0.30 per cent lower at 103.52.<br /><br />Global oil benchmark Brent crude futures rose 2.94 per cent to USD 85.91 per barrel.<br /><br />The 30-share BSE Sensex ended 327.05 points or 0.54 per cent higher at 61,167.79, while the broader NSE Nifty climbed 92.15 points or 0.51 per cent to 18,197.45.<br /><br /><keyword id="6438315" type="General" weightage="20" keywordseo="Foreign-institutional-investors" source="Orion">Foreign institutional investors</keyword> (FIIs) remained net sellers in the capital market on Friday, as they offloaded shares worth Rs 2,950.89 crore, as per stock exchange data. <br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/from-sah-polymers-to-chaman-metallics-four-ipos-that-will-raise-almost-110-crore-this-week/articleshow/96680142.cms">From Sah Polymers to Chaman Metallics – Four IPOs that will raise almost ₹110 crore this week</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/incred-capital-acquires-alternate-asset-advisory-firm-orowealth/articleshow/96678261.cms">InCred Capital acquires alternate asset advisory firm Orowealth</a>

Rupee falls 14 paise to close at 82.75 against US dollar

<ul><li>Shares of <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> plunged as much as 9% today on lower than expected March quarter earnings.</li><li>Analysts have cut down company estimates as the profit margin of the company remains under pressure due to cost pressures led by higher employee costs and a rise in travel costs.</li><li>As a result, shares of other information technology firms also fell today in an already weak market.</li></ul>IT giant Infosys disappointed investors as the stock of the company plunged nearly 9% on poor Jan-Mar quarter earnings.<br /><br />Stable deal wins and lower than the expected profit margin of the company due to cost pressures led by higher employee costs and rise in travel costs among concerns that impacted Infosys stock. <br /><br />Infosys ADR stock, which trades on the US stock market, slipped 14% in previous 5 sessions because of weak earnings at a time when Indian markets were closed due to holidays. <br /><br />“Infosys' 4Q (March quarter) results missed estimates mainly due to muted growth of 1.2% on quarter constant currency. However, its 13-15% revenue growth guidance for FY23 and all-time high net additions reflect a strong demand outlook,” said analysts at Jefferies. <br /><br />After considering the seasonal weakness in the Jan-Mar quarter, Infosys result was still disappointing. “Infosys' growth in 4Q disappointed even considering the seasonal weakness. Muted growth in its top-2 verticals (BFSI and Retail) and top markets (North America and Europe) and a sharp decline in Life Sciences vertical possibly due to one-off contractual issues resulted in the subdued growth performance,” said a report by Jefferies. <br />                    <div type="image" title="infosys 2" height="900" width="1200" msid="90906620" hostid="261"></div><br />Besides, Infosys’ attrition worsened more in the March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>’ attrition rate of 17.4% in the same quarter.<br /><br />Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1.<br /><br />The market capitalisation of the top company fell to ₹6.8 lakh crore from ₹7 lakh crore last week. <br />                <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div><br />Moreover, analysts expect the share price of the company to rise more as the demand outlook for the future remains strong. As of 11:27 p.m. shares of the company stand at ₹1,621 per share, down by 7.29%.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,970 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,040 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,135 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,050 <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/extreme-poverty-in-india-declined-12-in-the-last-decade-says-world-bank/articleshow/90905593.cms">Extreme Poverty in India declined 12% in the last decade, says World Bank</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/exim-bank-recruitment-2022-checkout-vacancies-eligibility-criteria-and-other-details/articleshow/90904895.cms">Exim Bank recruitment 2022: Checkout vacancies, eligibility criteria and other details</a>

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List of NSE and BSE Stock Market Holidays in 2022

BI India Bureau

RBI extends deadline for periodic KYC update by three months till March 31, 2022

PTI

Rupee falls 14 paise to close at 82.75 against US dollar

PTI

Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

Bhakti Makwana

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