Diwali Muhurat trading Highlights: The benchmark equity indices NSE Nifty 50 and BSE Sensex closed with gains during the Muhurat trading session on the auspicious occasion of Diwali 2023. The NSE Nifty 50 gained 100.20 points or 0.52% to settle at 19,525.55, while the BSE Sensex added as much as 354.77 points to 65,259.45. The Bank nifty index closed 176.55 points or 0.40% up at Rs 43,996. 55. The Nifty Small-cap index jumped more than 1% hits its 52-week high. The broader indices ended largely in positive territory, with gain led by Midcap and Smallcap stocks. Metal and IT stocks gained the most among the other sectoral indices. Coal India, UPL, Infosys, Eicher Motors and Wipro were the top gainers while the laggards included Britannia Industries, Sun Pharma, Apollo Hospitals, Bajaj Finserv and LTIMindtree.
Muhurat trading on Diwali| Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Motilal Oswal, Group MD & CEO, Motilal Oswal Financial Services
"Entering into Samvat 2080, we believe India would continue to shine and expect markets to maintain its outperformance. We believe that over the next couple of quarters, sector rotation would be an important driver along with the overall market uptrend. We expect sectors like BFSI, Discretionary Consumption, Construction & Real Estate and High Growth Niche Sectors to drive the overall market uptrend."
The NSE Nifty 50 gained 100.20 points or 0.52% to settle at 19,525.55, while the BSE Sensex added as much as 354.77 points to 65,259.45.
Sunil shah, Director - Khambatta Securities
“Indian equities are expected to outperform most other global markets in the face of continued geopolitical uncertainties and relatively higher domestic economic growth. The major themes will be domestic consumption and premiumisation, enabling companies to post strong earnings growth aided by margin accretion. Infra and construction plays are expected to do well as the government’s thrust on infrastructure development is seen to continue, while higher budgetary allocation in rural-focus schemes can help drive a recovery in rural consumption, especially with the upcoming budget being the last one before the general elections. In spite of rich valuations in the small- and mid-cap segments, companies with fundamentally strong businesses and good earnings growth continue to justify their valuation. If US bond yields start coming down by the second half of CY2024, FPIs will come back to the party. Upcoming state and general elections can make the market move sideways. Inflation, interest rate trajectory, and geopolitical tensions will remain the key risks.”
The Nifty Small-cap index hits a record high of Rs13,560 making a new 52-week high closed up by 1.14% on the first trading session of Samvat 2080.
Balkrishna Ind., Cummins, TATA Communication, Bharat Forge, and Persistent System are the top gainers on Mid-cap index.
Broadbase upmove across large caps led by Coal India
The stock price of Cupid soared 10% to hit a fresh 52-week high of Rs 898.85.
Power Finance Corp, NMDC, BEL, REC, NTPC among top gainers
Power Finance, MCX India, Coal India, NMDC, and REC are the top gaining on the F&O segment.
Palash Securities, Pix Transmissions, NGL Fine-Chem, Indian Card Clothing Company and Roto Pumps are the top volume gainers on the NSE.
(Source : NSE)
Coal India, ONGC, Power Grid, and Sun Pharma hits their 52-week high on Muhurat day trade.
Bajaj Finserv, HDFC Life Insurance Company and Apollo Hospital are leading losses on the NSE.
Coal India, UPL, Infosys, Eicher Motors and Wipro are the leading gainers on the NSE Nifty 50.
Glenmark Pharmaceuticals, Ipca Labs, Vedanta, Balrampur Chini, and Max Financials are top top losers on F&O segment
Coal India, CDSL, HDFC Bank, BSE and Jio Financial Services are the most active stocks on the NSE.
Prashanth Tapse, Senior VP Research Analyst, Mehta Equities
“As we bid farewell to Samvat 2079, the horizon of Samvat 2080 looks promising. Wishing you a joyous Deepavali and prosperous times ahead. With Nifty at 19425 and Sensex at 64905, anticipation builds for an electrifying start, especially in today's special Muhurat trading session at 6.00 PM. Our 'Diwali Picks 2023' features 12 stocks with balanced investment potential, including names like HDFC Bank, L&T, Tata Motors, Indigo, Tata Power, ABFRL, Crompton Greaves Consumer Electricals, Usha Martin, Doodla Dairy, Ashoka Buildcon, LG Bal Bros, and Imagica. We recommend accumulating these value picks with strong fundamentals for potential growth. The market optimism is fueled by factors such as the Federal Reserve's efforts for a "soft landing," robust GST numbers, active retail participation, easing Middle East hostilities, and declining WTI oil prices.”
Swan Energy leads the gains in the Realty index, up by 7%, followed by Mahindra Lifespace Developers, Sobha, and Godrej Properties, each gaining over 1% in the Muhurat Day session.
The Realty, Consumer Durables, IT, Media, Metal, and Oil & Gas indices are the leading gainers among the sectoral indices.
Palash Securities, Palash Securities, Roto Pumps, Indian Card Clothing Company and NGL Fine-Chem are the top volume gainers on the NSE.
(Source: NSE)
Esaf Small Finance Bank, Blue Jet Healthcare, Valiant Laboratories, and JSW Infrastructure gains more than 2% on the start of Samvat 2080.
Two-wheeler, CV and component players see steady gains.
TVS Motors, Hero MotoCorp, Eicher Motors firm
Ashok Leyland rises in Muhurat trade
JP Power, Yes Bank, Vodafone Idea, RattanIndia Power and Reliance Power are the most active stocks on the NSE Nifty 50.
Nifty Realty, Consumer Durables, Oil & Gas, Nifty Media, and Nifty Metal are the top gaining sectors.
Stock price of Coal India surged nearly 4% to hit a fresh 52-week high of Rs 335.85.
The NSE Nifty 50 opened at 19547.25 up 0.62%, while the BSE Sensex opened at 65,418.98 up 514.3 points.
Coal India, UPL, Eicher Motors ,NTPC, and Infosys are the top gainers on NSE Nifty 50.