HDFC Securities view on Markets' performance on Diwali Muhurat trading and top stocks
NSE Nifty closed at 12780 up over 60 points (up nearly 0.5%) and BSE Sensex closed at 43638 up over 195 points.
Indian markets opened gap up on the muhurat trading session and raced to all-time highs, but as is usually the case, they gave up some part of the gains. IT, Realty and Pharma led the gains. Volumes remained high even for the shortened session. Small Cap indices did even better taking cues from Russel 2000 index in the US which outperformed the other indices last week. NSE Nifty closed at 12780 up over 60 points (up nearly 0.5%) and BSE Sensex closed at 43638 up over 195 points.
BPCL gained 5% on Muhurat trading day, followed by IOC and Tata Motors which were up near 2%.
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Positive sentiments on account of recent rally, continued FPI inflows and impact of gain in US markets overnight led to modest gains in Indian markets. Though trend in muhurat trading session does not determine that for the whole year, it gives a good feeling to start on a positive note.
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