Left Menu
Development News Edition

Muhurat session: Indices gain; auto, capital goods stocks rise

Broadly positive global markets along with lower crude oil prices pushed the key Indian equity indices higher during the special "Muhurat" trade session on Wednesday.

The special hour-long session held every year on Diwali day to mark the start of the Hindu New Year saw the key equity indices -- S&P BSE Sensex and NSE Nifty50 -- make gains.

According to market observers, the special session to mark Samvat 2075 witnessed healthy buying in automobile, capital goods, oil and gas, banking and IT stocks.

The Nifty50 of the National Stock Exchange (NSE) gained 68.40 points or 0.65 per cent to close at 10,598.40 points.

Similarly, the 30-scrip sensitive index (Sensex) made gains during the trade session.

The S&P BSE Sensex, which opened at 35,301.88 points, closed at 35,237.68 points -- up 245.77 points or 0.70 per cent from Tuesday's close at 34,991.91 points.

"Markets ended the 'Muhurat' session with healthy gains. Nifty (Nifty50) and Sensex closed higher by 0.65 and 0.70 percentage (respectively)," Deepak Jasani, Head of Retail Research with HDFC Securities, told IANS.

"Auto stocks like Mahindra and Mahindra, Hero MotorCorp; Tech stocks like Infosys and those of OMC's (oil marketing company's) rose as crude prices fell," Jasani said. "Gains in the markets seem to usher in better times for the coming year."

In Samvat 2074, the S&P BSE Sensex gained 8 per cent on a year-on-year basis while the NSE Nifty50 rose 3.8 per cent.

The special trading session held every year on Diwali is considered to be auspicious for stock market trading.

It is believed that the "Muhurat" trading on this day brings wealth and prosperity throughout the year.

This ritual has been observed for ages by the trading community.

The Indian equity market will be closed on Thursday, November 8, to mark Diwali Balipratipada.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...


Latest News

Samsung Galaxy M31 first sale on March 5: Price and specs

HIGHLIGHTsAMOLED display64MP quad cameraExynos 96116000mAh batteryStarting Rs 14,999Samsung launched today the Galaxy M31, the newest member to the budget-friendly M-series in India. Touted as Mega Monster, the latest Galaxy M-series phone ...

UPDATE 1-Red Cross seeks safe passage of civilians and access in Idlib, Syria

The International Committee of the Red Cross ICRC called on the warring sides in Idlib, Syria, on Tuesday to allow safe passage for civilians to escape attacks and it reminded them that hospitals, markets and schools are protected by law.Sy...

Indian shooters have potential to win multiple medals in Tokyo Olympics: Abhinav Bindra

Olympic champion Abhinav Bindra says Indian shooters have the potential to win multiple medals, including gold, at the upcoming Tokyo Games. The 37-year-old Bindra remains Indias only individual gold medallist at Olympics but heading into t...

Sensex ends 82 pts lower; Nifty slips below 11,800

Benchmark Sensex ended 82 points lower after a highly volatile session on Tuesday, extending losses for a third day, as investors continued to weigh the financial impact of the coronavirus pandemic on the global economy. A day after a steep...

Give Feedback