Stock markets opened for the special one-hour Muhurat trading session on Diwali (Saturday) to mark the beginning of Samvat 2077. They opened strong and almost immediately jumped to a new all-time high. Sensex jumped 380.76 points to record 43,823.76 in the first session of Samvat year 2077, while Nifty traded at above 12,800 points. Among the reasons for the big jump seen today are faster economic recovery in India and a healthy festive demand. In a thrilling live coverage of the entire trading session, Zee Business Managing Editor Anil Singhvi had the top market analysts in India on his show to provide investors, not just the commentary of how the markets were performing, but going way beyond that by listing top stocks to buy that will ensure Goddess Lakshmi comes to their homes in all her glory and thereby enable them to start Samvat 2077 with a bang!.

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In his analysis during trading, Rahul Arora, CEO of Nirmal Bang Securities said there may be a break in the market rally in the short term. However, he added that the range of 12500 – 13000 possible for the Nifty in the short term.  

 

CLOSING! Stock markets started Samvat 2077 very much in a positive manner and closed with gains! During the special Diwali Muhurat trading session, although they had started with a bang, Sensex climbed 280.79 points (0.65%) to close at a record 43,637.98. The Nifty 50 did something else - it gained  by 89.45 (0.7%) and closed at a record high of 12,780.25.

 

What will please all market participants even more is the fact that sectoral indices closed in the green. This included Nifty Bank, Nifty Auto, Realty, Nifty Pharma, Nifty Metal, IT.

In the Sensex kitty, prominent gainers were Bharti Airtel, Tata Steel, Sun Pharma, Bajaj Finserv, ITC, Infosys, HDFC Bank and ONGC, spurting up to 1.17 per cent.

Only four constituents closed in the red -- PowerGrid, Titan, UltraTech Cement and Bajaj Finance, which shed up to 0.32 per cent.

Brokers said buying activity gathered momentum as investors opened their new books on the first session of Samvat 2077.

All BSE sectoral indices finished in the green, led by oil and gas, telecom, industrials, realty, tech and energy.

A similar trend was seen in the broader markets, with the BSE small-cap index jumping 0.84 per cent and the mid-cap gauge gaining 0.62 per cent.

 

Anand Rathi, Founder of Anand Rathi Group says FIIs buying has given a big push to markets. Interest rate cut will also act as a booster shot.

 

Ashish Chauhan, MD and CEO, BSE said that better growth by Indian economy may boost markets further. To take advantage of this, he told new investors that they should take advantage of mutual funds to start with.  

 

Meanwhile, foreign institutional investors (FIIs) net bought shares worth Rs 1,935.92 crore on Friday, while domestic institutional investors sold to the tune of Rs 2,462.42 crore, as per provisional exchange data.  

 

The Muhurat trading window is available for trading from 6:15 pm to 7:15 pm. Trading window opens on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) for the special session on Diwali.

 

Many believe that gains made during this session bring prosperity and wealth in the year ahead. The investors can trade in equities and derivatives during the special session. 

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The stock market will remain closed on Monday after the Muhurat trading session on Saturday and the next normal trading will take place on November 17th (Tuesday). 

 

The special Diwali Muhurat trading window was available from 6:15 pm to 7:15 pm. Trading window opened on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for the special session on Diwali.

Domestic markets conduct a special one-hour Muhurat trading session on Diwali every year to mark the beginning of the traditional Hindu calendar year, called 'Vikram Samvat'.

In the previous Samvat 2076, the BSE Sensex gained 4,384.94 points or 11.22 per cent, while the Nifty rallied 1,136.05 points or 9.80 per cent.

The BSE and NSE will remain closed on Monday (November 16) on the occasion of 'Diwali Balipratipada'.

Many believe that gains made during this session bring prosperity and wealth in the year ahead.