Diwali Muhurat trading: Sensex rallies 246 pts as Samvat 2075 opens on strong footing

Diwali Muhurat trading: On the occasion of Diwali, Domestic bourses Bombay Stock Exchange (BSE) Sensex and National Stock Exchange (NSE) Nifty 50 conducted a special Muhurat trading session on the account of Laxmi Puja today.

The special session marked the starting of the Hindu New Year - Samvat 2075.

Diwali Muhurat trading: On the occasion of Diwali, Domestic bourses Bombay Stock Exchange (BSE) Sensex and National Stock Exchange (NSE) Nifty 50 conducted a special Muhurat trading session on the account of Laxmi Puja today. Held between 5:50 pm and 6: 30 pm, benchmark Sensex surged 246 points to end above the key 35,000-mark. The Sensex, after a gap up opening at 35,301.88, advanced to 35,302.25 on a flurry of buying. It shed some ground on profit-booking and finally settled 245.77 points, or 0.70 per cent higher at 35,237.98. On similar lines, the broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.

Brokers said buying activity gathered momentum as investors opened their books on the first session of Samvat 2075. All trades executed in this Diwali Muhurat trading session would result in settlement obligations, the NSE had said in a statement. The special session marked the starting of the Hindu New Year - Samvat 2075.

In the Sensex kitty, prominent gainers were M&M, Infosys, Tata Motors, Bajaj Auto, Hero MotoCorp, Vedanta Ltd, ITC Ltd, Asian Paints, Maruti Suzuki, Tata Steel, IndusInd Bank, ONGC, ICICI Bank, HUL, Yes Bank, NTPC, RIL, L&T, Kotak Bank, Coal India, PowerGrid, TCS, Sun Pharma,, HDFC Ltd, HDFC Bank, Wipro and Adani Ports, rising by up to 1.97 per cent.

Samvat is the Hindu calendar year that rolls out the occasion on Diwali. Traders across the country believe that Muhurat trading on this day brings wealth and prosperity throughout the year. The BSE and NSE will remain closed on Thursday (November 8) on the occasion of Diwali Balipratipada. During the Samvat year 2074, benchmark Sensex gained 2,407.56 points, or 7 per cent, while the broader NSE Nifty rose by 319.15 points, or over 3 per cent. Top gainers during this special trading session were companies including TCS, Yes Bank, Reliance Industries and Tata Motors with their shares witnessing a hike between 1 per cent and 2 per cent.

The Sensex commenced higher at 35,076.24 points and continued its upward march to hit a high of 35,196.03 in the Tuesday session. However, profit-booking in the last one hour of trading, in line with losses in European markets, wiped-off most Sensex gains as it hit a low of 34,889.72 and settled at 34,991.91 points, up 40.99 points or 0.12 per cent, reported news agency PTI.

Likewise, the broader NSE Nifty, after shuttling between 10,600.25 and 10,491.45 points, ended the last session of Samvat 2074 with a rise of 6 points, or 0.06 per cent, to end at 10,530.