The benchmark indices BSE Sensex and Nifty 50 surged to their lifetime highs on Saturday during the special Muhurat trading session to mark the beginning of Samvat 2077. Sensex rose by 280.79 points or 0.65% to close at 43,638. The 30-share index touched an intra day high of 43,830.93. On similar lines, the broader NSE Nifty advanced 89.45 points, or 0.70%, to finish at its lifetime high of 12,780.25. It touched an intra-day record of 12,828.70 during the session.
All BSE sectoral indices finished in the green.
“Indian markets opened gap up on muhurat trading session, as is usually the case, but gave up some part of the gains. IT, Realty and Pharma led the gains. Volumes remained high even for the shortened session. Smallcap indices did even better taking cues from Russel 2000 index in the US which outperformed the other indices last week,” says Dhiraj Relli, MD & CEO, HDFC Securities on Saturday’s Muhurat Trading session.
Dhiraj Relli added, “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.”
Bharti Airtel, Tata Steel, Sun Pharma, Bajaj Finserv, ITC, Infosys, HDFC Bank and ONGC, remained the top gainers during the Muhurat session.
Only four constituents closed in the red — PowerGrid, Titan, UltraTech Cement and Bajaj Finance, which shed up to 0.32%.
BSE small-cap index jumped 0.84% and the mid-cap gauge gaining 0.62% during the Diwali session.
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%, while the Nifty rallied 1,136.05 points or 9.80%.
The BSE and NSE will remain closed on Monday (November 16) on the occasion of ‘Diwali Balipratipada’.
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