Diwali Muhurat Trading 2024 Highlights: The special one-hour Muhurat trading session as part of the celebrations for Diwali 2024 ended on a positive note with the indices posting stable gains. Most indices ended in the green with the Auto Index being the stand-out performer.
The Nifty closed at 24,300 up 95 points while Sensex shut at 79,724 up 335 points. The Mid- and Small-cap indices clocked nearly a per cent gain each. The market breadth is biased towards advancing stocks with auto being the star of the session.
The Muhurat trading provides investors the opportunity to embark new investment journey with the onset of the new Samvat year. Goddess Laxmi is traditionally considered the Goddess of Wealth and traders consider it auspicious to kick start the new year with her blessings and undertake token trade.
Diwali Muhurat Trading 2024 Highlights November 1 BSE NSE Top Shares to Pick Diwali Trading
Diwali Muhurat Trading 2024 Live Updates: Markets Performance In Last 10 Years
In the lead-up to Diwali, investor returns have lacked the sparkle anticipated by retail players, with the Nifty down nearly 6% over the past month and the Sensex shedding over 4,800 points, marking a similar percentage loss. October has proven particularly challenging, recording the largest single-month decline since the COVID-19 crash and marking the most difficult pre-Diwali period in a decade.
Historically, the Nifty has shown negative returns leading up to Diwali in only four years since 2014, with an average return of 0.84%. The index’s worst pre-Diwali performance was in 2015, with a 4.45% drop. Last year, the Nifty declined by 1.36%, but this year, it appears set to surpass the 2015 loss.
Muhurat Trading 2024 Live Updates: Nifty Midcap 100 index movers
Suzlon Energy, CB Power, Indian Hotel, IDFC First Bank, and Vodafone Idea were the top contributors to the Nifty Midcap 100 during the Muhurat Trading Session. Meanwhile, Max Health, Coforge, Indian Bank, OFSS, and Voltas were the major draggers to the index.
Courtesy: NSE
Diwali Muhurat Trading 2024 Live Updates: Top Movers on NSE
Mahindra & Mahindra, ONGC, Adani Ports, BEL, and Eicher Motors are the top gainers on NSE Nifty 50 index whereas the top laggards include Dr Reddy's Lab, Britannia India, HCL Tech, Grasim, and Tech Mahindra.
Diwali Muhurat Trading 2024 Live Updates: Smallcap 100 index movers
Brigade Enterprises, PPL Pharma, NCC, Blue Star, and KPI were the top contributors to the Nifty Smallcap 100 during the Muhurat Trading session.
Courtesy: NSE
Diwali Muhurat Trading 2024 Live Updates: Hyundai Motor India shares jump over 1%
Hyundai shares gained over 1% after Hyundai Motor India reported a 2% increase in total sales for October 2024, reaching 70,078 units compared to 68,728 units in October 2023. Domestic sales rose 0.8% year-on-year to 55,568 units from 55,128 units. The company achieved record monthly SUV sales of 37,902 units and the highest-ever monthly CNG sales at 8,261 units. Exports also grew by 6.7%, totaling 14,510 units compared to 13,600 units last year.
Diwali Muhurat Trading 2024 Live Updates: Maruti Suzuki Shares gain 1% after clocking highest ever sales in October
Maruti Suzuki’s share price rose over 1% during the Diwali Muhurat Trading Session following the company’s report of record-breaking monthly sales in October 2024. The largest passenger car manufacturer in India registered a 4% year-on-year increase, with 2,06,434 units sold compared to 1,99,217 units in the same month last year. This is the first time the company clocked over 2 lakh vehicle sales in monthly charts.
Read Here for more: October 2024 Auto Sales Live: Maruti Suzuki, Tata Motors, TVS, Hero MotoCorp, and more
Diwali Muhurat Trading 2024 Live Updates: Top midcap gainers
IRB Infra, Vodafone Idea, Bharat Dynamics, MRPL, and Delhivery were the top midcap gainers during the special muhurat trading session. The Nifty Midcap 100 jumped 495 points or 0.88% to 56,608.
Diwali Muhurat Trading 2024 Live Updates: Bank Nifty index trades 0.5% higher
The Bank Nifty index traded over half a percent higher during the Diwali Muhurat Trading Session 2024, driven by gains in Punjab National Bank (PNB), Canara Bank, IDFC First Bank, and IndusInd Bank. Bank Nifty reached a high of 51,825.50, marking a 0.68% increase from the previous close.
Diwali Muhurat Trading 2024 Live Updates: Bharat Dynamics up 3%
Shares of Bharat Dynamics rose 3.15% to an intra-day high of Rs 1,119.55. The stock was the top gainer in Nifty Midcap 100 during the special Muhurat Trading session on November 01, 2024.
NBCC shares rose by 3% to an intraday high after the state-run company announced securing multiple orders worth Rs 235.46 crore. Among these, NBCC won a Rs 186.46 crore contract from Power Grid Corporation of India Ltd. to renovate its corporate office building in Gurugram. Additionally, NBCC received a Rs 44 crore order from Mahatma Gandhi Kashi Vidyapith University in Varanasi to construct a multipurpose examination hall and innovation center, according to its exchange filing.
Nifty Auto index was up and M&M was the top gainer in the Nifty 50. The auto index was up 1.32% at 23,824. Along with M&M, Exide Industries, Eicher Motors, Tata Motors, and Samvardhan Motherson were the top gainers in the Nifty Auto index during the special Muhurat Trading session.
Courtesy: NSE
Diwali Muhurat Trading 2024 Live Updates: Mahindra & Mahindra Shares Gain 3%
Mahindra and Mahindra shares jump nearly 3% to become Nifty 50's top gainers after the automaker record-breaking monthly sales in October, with 96,648 units sold, reflecting a 20% year-on-year increase. Last October, the company dispatched 80,679 units to dealers. In the utility vehicles segment, domestic sales rose by 25% to 54,504 units, compared to 43,708 units in the same period last year. Overall passenger vehicle wholesales, including exports, reached 55,571 units, the company stated.
Nifty Realty was the highest gainer among other sectoral indices. The realty index was up 1.25% at 1,012.
Courtesy: NSE
The Sensex has closed in positive territory on this day in 8 of the past 10 years, enhancing its reputation for bringing good fortune to investors. Over the last decade, the Sensex has experienced substantial growth, climbing from around 26,850 points in 2014 to a record high of nearly 85,978 points in September 2024.
Diwali Muhurat Trading 2024 Live Updates: Bharat Forge falls during Muhurat trading
The stock of Bharat Forge saw some selling on the auspicious one-hour special trading session. The stock fell 1.35% to Rs 1,391. The stock was the major loser in the Nifty Midcap 100.
Muhurat Trading 2024 Live Updates: Top Movers on NSE
Mahindra & Mahindra, Eicher Motors, NTPC, Cipla, and Coal India are the top movers on Muhurta reading session on NSE, whereas the top laggards include Grasim, Sun Pharma, and Britannia India.
Shares of Vodafone Idea jumped 4% to an intra-day high of Rs 8.44. The stock was the top gainer in the Nifty Midcap 100. The stock touched the 52-week high of Rs 19.18 on June 28, 2024.
The benchmark equity indices settled in positive territory during the Muhurat trading session. The NSE Nifty 50 opened up by 97.40 points, or 0.40%, at 24,302.75, while the BSE Sensex jumped 552.04 points, or 0.70%, to 79,941.10 in pre-opening trade.
TVS Motor reported a strong year-on-year performance, with total sales rising 13% to 4.89 lakh units. Two-wheeler sales increased 14% to 4.78 lakh units, while electric vehicle (EV) sales surged 45% to 29,308 units. However, three-wheeler sales declined by 23% to 10,856 units. Exports also saw a 9% rise, reaching 95,708 units.
Muhurat Trading 2024 Live Updates: Samvat 2080 started strong with Muhurat gains
During the Diwali special trading session for Samvat 2080, the Sensex and Nifty posted solid gains. Both indices opened in positive territory on Diwali 2023, with the Sensex beginning at 65,249 and the Nifty at 19,522. By the close, the Sensex had climbed 354 points, ending at 65,259, while the Nifty finished at 19,525, marking a strong performance for the hour-long session.
State-run NBCC (India) has announced securing multiple orders totaling Rs 235.46 crore. Among these, the company won a Rs 186.46 crore contract from Power Grid Corporation of India Ltd. for renovating Power Grid's corporate office building in Gurugram. Additionally, NBCC received a Rs 44 crore order from Mahatma Gandhi Kashi Vidyapith University in Varanasi for constructing a multipurpose examination hall and innovation center at the university, as disclosed in its exchange filing.
Muhurat Trading 2024 Live Updates: Gold outshines as a safe haven savings instrument; Yields 31% in 1 year
Gold prices continue to reach record highs, with 24-carat gold now exceeding Rs 80,000 per 10 grams. So far this year, prices have climbed 31%, adding approximately Rs 14,300 per 10 grams. This surge is fueled by increased demand amid persistent inflationary pressures and ongoing geopolitical uncertainties.
Muhurat Trading 2024 Live Updates: Sensex nears 80,000 with strong 1-year gains of 25%
The Sensex has demonstrated notable strength, currently trading near the 80,000 level. Over the past year, the index has gained over 25%, adding 16,111 points to its value. In 2024 alone, year-to-date returns stand at 11.02%, underscoring the resilience of Indian equities amid a volatile global economic landscape.
Muhurat Trading 2024 Live Updates: Bajaj Broking's expectations from Samvat 2081
Looking ahead to Samvat 2081, Bajaj Broking expects the Indian markets to maintain an upward trajectory, targeting the 28,400 mark by Diwali 2025. This forecast aligns with the yearly chart's rising trendline, connecting major highs since 2014 and reflecting the projected implications of previous significant rallies.
However, the brokerage noted that this upward journey will likely be marked by volatility rather than a smooth path. "We believe that healthy corrections will contribute to a sustainable, long-term uptrend in the market," they added.
Muhurat Trading 2024 Live Updates: Who participates in Muhurat Trading?
On an average we see that retail investors participate in large numbers. They make token or symbolic investments in blue-chip stocks primarily to seek Goddess Lakshmi's blessing. Traditionally Lakshmi Puja is done on Diwali day to seek the blessings of the Goddess of Wealth.
Trading volume during Muhurat Trading remains significantly low as most participants are retail investors.
Muhurat Trading 2024 Live Updates: Key trading themes for Samvat 2081
According to Motilal Oswal's report ahead of Diwali, some of the key investment themes for the new year i.e. Samvat 2081 include
-Financials: The report states that "Financials are positioned well to navigate through current uncertainties. Repo rate cuts in H2FY25 to enhance further growth/profitability."
-Digital: Motilal Oswal believes, "Tech companies with strong next generation technology are better positioned for future success."
-Defensives: "Markets are moving towards defensive sectors to offset the volatility rising due to various headwinds," says Motilal Oswal.
-Industrials: Identifying the key trends, Motilal Oswal points out that "Fast growing segments, such as data centers , transmission, electronics and renewables, are boosting order inflows for cap goods companies."
Muhurat Trading 2024 Live Updates: Primary Market stays abuzz
It would not be wrong to say that the better part of Samvat 2080 was all about IPOs. Over 80 IPOs were launched and some of the marquee listings in this period include the likes of Bajaj Housing Finance, Hyundai Motor India, Premiere Energies, Waaree Energies and many others.
The outlook for Samvat 2081 in no less promising. The much talked about Swiggy IPO opens next week while NTPC Green, SJVN and the like are in the pipeline.
Muhurat Trading 2024 Live Updates: Outlook for Samvat 2081
According to Deven R Choksey, founder and managing director of DRChoksey FinServ, the opportunity to make money in the market at current levels will keep emerging. Higher investor spend on consumption and higher disposable income are seen as the two key drivers for action in the stock market.
That apart he considers AI as a significant disruptor which can both optimise efficiency and cut down cost for businesses. Other sunrise sectors like renewables, green hydrogen and the like offer considerable opportunity for investors to park their money in the market.