Diwali 2020: Sensex, Nifty Soar To Record Highs In Special Muhurat Trading Session

Muhurat Trading Session: Stock exchanges BSE and NSE conduct a special session every Diwali

Muhurat Trading 2020: Domestic stock markets began the first session of the Samvat new year at record highs in a special Muhurat trading session on Saturday, November 14. The S&P BSE Sensex index jumped 387.93 points – or 0.89 per cent – to touch an all-time high of 43,830.93, shortly after opening at a record high of 43,815.45, and the broader NSE Nifty 50 benchmark climbed to a record 12,828.70, adding 108.75 points – or 0.85 per cent – from its previous close. Gains across sectors, led by banking, financial services, energy and IT shares, pushed the markets higher.

Here are 10 things to know:

  1. The Sensex ended 194.98 points – or 0.45 per cent – higher at 43,637.98 and the Nifty settled at 12,780.25, up 60.30 points – or 0.47 per cent – from its previous close – both record closing highs. (Also Read: What Muhurat Trading Is All About)

  2. Bharat Petroleum, Indian Oil, Tata Motors, HDFC Life and Sun Pharma, closing between 1.09 per cent and 5.19 per cent higher, were the top gainers in the Nifty basket of 50 shares.

  3. On the other hand, Hindalco, Hero MotoCorp, JSW Steel, SBI and Bajaj Finance, ending 0.57-1.21 per cent lower each, were the worst hit among 15 laggards. (Also Read: Here Are Brokerage’s Top Picks For Diwali 2020)

  4. The Nifty Bank index – which tracks stocks of 12 major lenders in the country – settled 0.45 per cent higher, led by Kotak Mahindra Bank and HDFC Bank 0.43 per cent and 0.90 per cent respectively. Financial stocks have a weightage of almost 36 per cent in the Nifty 50 index.

  5. Market breadth was highly positive with an advance-decline ratio of 3: 1, as 1,842 shares on the BSE rose against 606 that fell.

  6. This week, the government unveiled Atmanirbhar Bharat 3.0 stimulus measures worth Rs 2.65 lakh crore to rescue the economy out of a historic contraction caused by the coronavirus pandemic. (Also Read: Jobs, Credit, Farm Focus in Nirmala Sitharaman’s Atmanirbhar Bharat 3.0)

  7. The markets have recently broken a series of records amid a broader global surge in risk appetite on optimism around a coronavirus vaccine.

  8. Robust corporate earnings by many large-cap companies including SBI, HDFC Bank, Indian Oil, Larsen & Toubro and Bharti Airtel, highlighting a recovery in businesses impacted by COVID-19, have also boosted investor sentiment.

  9. Both Sensex and Nifty have recovered two-thirds of losses registered in March, as the country entered the world’s biggest lockdown, to curb the spread of the coronavirus pandemic, which has pushed economies and businesses into a tailspin.

  10. In Samvat 2076, which is the period from Diwali 2019 to the eve of Diwali 2020, the S&P BSE Sensex index added 4,384.94 points (from 39,058.06 to 43,443.00), marking a return of 11.23 per cent. The broader NSE Nifty 50 benchmark climbed up 1,136.05 points – or 9.81 per cent – during this period. (Also Read: Diwali – A Good Time To Start The Investment Journey)

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Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

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