Diwali Muhurat trading: Sensex opens 300 pts higher in Samvat 2075, Nifty above 10,600; Infosys, VEDL rally

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Published: November 7, 2018 5:40:29 PM

Diwali Muhurat trading: Kicking off Samvat 2075 with a bang, the Sensex opened 309 points higher at 35,301.88, while the broader Nifty 50 opened above the 10,600-mark.

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

Diwali Muhurat trading: Kicking off Samvat 2075 with a bang, the Sensex opened 309 points higher at 35,301.88, while the broader Nifty 50 opened above the 10,600-mark. In the Muhurut trading session, shares of VEDL, Infosys, Hero Motocorp, Yes Bank rallied more than 1% each in the opening trade. In the broader Nifty 50, shares of Titan, IndusInd Bank and Kotak Mahindra Bank saw an upsurge of up to 0.5%. Shares of Wipro, JSW Steel, Tata Motors lost more than 0.4% each. The stock markets will remain open till 6.30 pm today.

Also read: Samvat 2075: Here are top brokerage picks this Diwali; buy to gain up to 46% returns

Samvat 2074 has indeed 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.

A special muhurat trading session is held by the NSE and BSE to mark the auspicious occasion of Diwali every year. The session will be conducted between 5 pm and 6:30 pm today. “A special live trading session shall be held on Wednesday, November 07, 2018 on account of Muhurat trading on Diwali,” National Stock Exchange said in a circular. “All trades executed in this Diwali Muhurat trading session shall result in settlement obligations,” the statement added.

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