BSE, NSE closed today on occasion of Diwali Balipratipada; Sensex, Nifty kick off Samvat 2075 on a strong note

By: | Published: November 8, 2018 9:51 AM

The Indian stock markets BSE, NSE will be closed today on the occasion of Diwali Balipratipada. Yesterday, the Sensex and Nifty logged their best Muhurat trading session in 10 years.

Sensex gained 2,407.56 points, or 7%, in the Hindu year, while Nifty rose by 319.15 points, or over 3%.

The Indian stock markets BSE, NSE will be closed today on the occasion of Diwali Balipratipada. Yesterday, the Sensex and Nifty logged their best Muhurat trading session in 10 years. Kicking off Samvat 2075, the Sensex ended Diwali Muhurat session with gains of more than 245 points, even as the Nifty 50 gained about 70 points. Sensex ended the session 245.77 points higher at 35,237.68, while the Nifty 50 zoomed about 68.4 points to 10,598.40.

Notably, the benchmark indices Sensex and Nifty logged their best year in a decade. During the special trading session on Wednesday, 28 of the 30-share Sensex stocks ended in the green. Automobile stocks were among the major gainers; with shares of Mahindra & Mahindra gaining more than 2%, Tata Motors, Bajaj Auto and Hero MotoCorp rose around 1.2%,  and Maruti Suzuki was up close to 1%.

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Samvat 2074 had been a very volatile year with the Nifty gaining just 4% and the 30-share Sensex returning about 7%. However, it has been an excellent year for technology stocks, with the IT index zooming about 34%. In the IT pack, shares of Tech Mahindra have emerged as the overall winner returning a whopping 52% in the period, IT behemoth TCS comes second with returns of 49.5%. Infosys shares, with returns of 44.31% have emerged as the third best Nifty performer in the period. Titan (42.8%), ICICI Bank (37.7%), JSW Steel (37.66%), Axis Bank (30.7%) HUL (29.8%) Bajaj Finance (27.5%) have also managed to be among the top 10 performers in Samvat 2074. With returns of 21.67%, billionaire Mukesh Ambani-led Reliance Industries has been ranked at the 10th spot among the Nifty.

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