The agaz of Samvat 2076 has been spectacular. Both the Sensex and the Nifty have been positive in Muhurat trading. At the end of trading, the Sensex at the Bombay Stock Exchange strengthened 192 points, or 0.6 percent, to close at 39,250. The Nifty also rose 44 points to close at 11650 and closed at 11628. Tata Motors has seen impressive growth in business. The company’s stock closed up nearly 18 per cent. Yes Bank, on the other hand, has seen a growth of 5 per cent. The Sensex closed at the green mark of 19 of 30. Apart from Tata Motors and Yes Bank, Infosys, Vedanta, Mahindra & Mahindra, Tech Mahindra, ITC and Tata Steel have been booming. Maruti, Airtel, HCL Tech, TCS, Asian Paints and ICICI Beck have shown weakness.
All 11 indexes on Nifty in green mark
In Muhurat Trading, all 11 indices on Nifty are witnessing a spurt. The auto index has seen a 1.55 per cent spurt. The Nifty has gained 88 points, or 0.30 percent, to close at 29,483.55. Besides, metal, FMCG, IT and pharma have all seen purchases in the sector.
Top Gainers: In addition to Tata Motors and Yes Bank, Infosys, Vedanta, Mahindra & Mahindra, Tech Mahindra, ITC and Tata Steel.
Top Losers: Maruti, Airtel, HCL Tech, TCS, Asian Paints and ICICI Bank.
Muhurat Trading began at 6:15 p.m. on Diwali this year. On this day in India, people worship books and books. Muhurat worships broker accounts on the stock exchange before trading. Special trading sessions are kept in the most auspicious Muhurat of the day. On Diwali, a one hour special trading session is held on BSE and NSE every year. This is called Muhurat Trading. At the same time, the new era begins. This one hour session is considered auspicious for the beginning of the Hindu accounting year.
Also Read: Muhurat Is Ready to Shop on Trading List of Shares, Will Stay Filling Up By Next Diwali
How to be the Year 2076
Capital M’s Research Head Romesh Tiwari says further companies will benefit from tax deductions. Interest rates are on lower rates, expected to further boost demand in the country. These are the reasons why the stock market seems to be getting support. However, in the new era, volunta cannot be ruled out. Brexit, the trade war between the US-China, along with other global issues, remain a concern for the country’s sluggish consumption. These factors will hit the market for a few days now. But after a quarter or two, the market will pick up. The Nifty may touch 1300 levels in the next one year.
Santosh Mina, senior analyst at Trading Bells, says that since the corporate tax cut, the level of 11700 for Nifty has become a strong resistance. The market sentiment is expected to improve in the coming days. If the Nifty breaks the 11700 level, it will see a further boom. By next Diwali, the Nifty may touch 13000 levels. During this period, The Nifty will see turnover between 11000 and 13000. However, fluctuations in the early days of 2076 cannot be ruled out.
How was the market last year
The stock market in last Diwali Muhurat trading closed with spectacular bullishness. At the end of the day, the Sensex at the Bombay Stock Exchange strengthened 260 points, or 0.6 percent, to close at 35,238. The Nifty also strengthened 68 points to close at 10,598. All 11 indexes on the Nifty were bullish. Auto, metals, banks and energy stocks were good buying. Midcap shares also remained bullish. Mahindra & Mahindra, Vedanta Ltd., Hero MotoCorp, Mahindra & Mahindra, Infosys, Bajaj Auto, HUDS, L&T and Maruti were bullish, while SBI, Avanti Feeds and Wemart were down.
History of Muhurat Trading
The largest stock exchange in Asia has been conducting Muhurat trading on BSE since 1957. This tradition has been going on in the NSE since 1992. Trading on this day is symbolic. It is believed that it is auspicious to buy small quantities of shares on this day. This keeps Maa Lakshmi’s blessings in trading throughout the year.