Diwali 2020: Domestic stock markets will begin Samvat 2077 – or the new year according to the Hindu calendar – with a special, one hour trading session, called Muhurat trading session, on Saturday. 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.
Gains were led by IT, pharma and metal shares, whereas losses in select financial stocks, especially PSU lenders, limited the upside.
The Nifty IT and Pharma indices jumped 43.88 per cent and 51.57 per cent respectively in Samvat 2076. Metal shares also added to gains, with the Nifty Metal index moving 11.21 per cent higher.
On the other hand, the heavyweight Nifty Bank index declined 3.16 per cent. Within financial stocks, which have a weightage of nearly 36 per cent in the benchmark Nifty 50 gauge, state-run banks were the worst hit, which is reflected in a 38.62 per cent drop in the Nifty PSU Bank index.
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