Muhurat Trading Recap
The Muhurat Trading session this year was held on November 1, 2024, and the Indian stock market opened the Samvat 2081 year with a positive show. This hour-long trading session is symbolic and is held on Diwali, marking the beginning of the Hindu New Year and is considered to be an auspicious moment to make fresh investments.
Sensex and Nifty Surge
The two benchmark Indian stock indices - BSE Sensex and NSE Nifty50 - closed the Muhurat Trading session with gains, kicking off the new year on a high note. The BSE Sensex ended the day at 79,724.12, marking an increase of 335 points, or 0.42%, while the Nifty50 closed near the 24,300 mark, up by 94 points or 0.39%.
These closing figures of benchmark indices reflect a steady upward trend, fueled by optimism among investors and strong performances in key sectors like banking, automotive, and oil and gas.
Reflecting on Samvat 2080’s Impressive Gains
The previous year, Samvat 2080, proved to be an exceptional period for the stock market. During this year, the Sensex surged by an impressive 14,484.38 points, showing a 22.31% increase, and the Nifty50 gained 4,780 points, reflecting a solid 24.60% increase.
These gains contributed to a significant rise in investor wealth, which grew by ₹124.42 lakh crore, bringing the total market capitalisation to an all-time high of ₹4,44,71,429.92 crore ($5.29 trillion).
Strong Performers
During this year’s Muhurat session, several blue-chip stocks led the charge with Mahindra & Mahindra being the top performer with a notable 3.29% rise, showcasing strong sentiment in the automotive sector.
The other significant gainers included Adani Ports (which went up by 1.26%), Tata Motors (up by 1.14%), and Axis Bank (up by 0.92%). Investors also saw gains in Nestle, NTPC, Reliance, ITC, Titan, Kotak Bank, Infosys, and TCS, further fueling the positive momentum.
Sectoral and Broader Market Highlights
BSE Auto gained 1.15% on the sectoral front, while the consumer discretionary sector gained 1.10% and the oil and gas sector gained 0.91%. The broader market indices also mirrored this optimism, with the BSE Midcap index rising by 0.69% to 45,996.71 and the BSE SmallCap index gaining 1.16%, closing at 54,982.87.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.