Sensex and Nifty Rise During Diwali Muhurat Trading in Samvat 2081
New Delhi, November 1: The Hindu calendar year of Samvat 2081 began on a positive note for Indian stocks. The Sensex closed 0.4% higher at 79,688 points, while the Nifty also rose by 0.4% to end at 24,300 points, recovering from two days of losses. All sectoral indices opened in green, with only Nifty IT closing slightly lower by 0.02%.
Muhurat Trading Session
The Muhurat trading session, held on Diwali evening, saw a positive start for investors. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) were open for trading from 6:00 pm to 7:00 pm, marking the beginning of Samvat 2081. The pre-market session started at 5:45 pm.
This special trading session includes all market segments such as equity, commodity derivatives, currency derivatives, equity futures and options, and securities lending and borrowing. The tradition of Muhurat trading is believed to bring good returns, and many people also time their purchases of gold, silver, real estate, and electronics on this auspicious day.
Historical Trends
Historically, trading volumes are high during this session as many orders are placed. Last year, the benchmark indices rose significantly, benefiting investors. Data shows an increase in the number of investors participating in this one-hour trade over the years.
Vikram Kasat, Head of Advisory at PL Capital – Prabhudas Lilladher, noted that over the past 10 years, markets have closed in the red only three times during the Muhurat trading session, suggesting potential festive cheer in upcoming sessions.
Doubts Revealed
Sensex -: Sensex is a stock market index that represents 30 well-established and financially sound companies listed on the Bombay Stock Exchange (BSE) in India.
Nifty -: Nifty is another stock market index, but it represents 50 major companies listed on the National Stock Exchange (NSE) of India.
Diwali Muhurat Trading -: Diwali Muhurat Trading is a special trading session conducted by Indian stock exchanges on the occasion of Diwali, which is considered an auspicious time to invest in stocks.
Samvat 2081 -: Samvat 2081 refers to the Hindu calendar year that started during the Diwali festival in 2023. The Hindu calendar is different from the Gregorian calendar that we usually use.
Bombay Stock Exchange -: The Bombay Stock Exchange (BSE) is one of the oldest stock exchanges in Asia, located in Mumbai, India, where people buy and sell shares of companies.
National Stock Exchange -: The National Stock Exchange (NSE) is another major stock exchange in India, also located in Mumbai, where people trade shares of companies.
Sectoral indices -: Sectoral indices are groups of stocks from the same industry or sector, like IT or banking, that are tracked together to see how that part of the market is doing.
Nifty IT -: Nifty IT is a sectoral index that tracks the performance of the top IT (Information Technology) companies listed on the National Stock Exchange.
Vikram Kasat -: Vikram Kasat is likely a financial expert or analyst who commented on the performance of the stock market during the Diwali Muhurat trading session.