Sat Nov 02 08:00:20 UTC 2024: ## Indian Markets Celebrate Diwali with Positive Muhurat Trading

**Mumbai, India -** Indian equity benchmarks closed higher on Friday, marking the auspicious “Muhurat Trading” session during Diwali, the Hindu festival of lights. The 30-share BSE Sensex rose by 0.42% or 335 points to close at 79,724, while the broader NSE Nifty climbed 0.41% or 99 points to end at 24,304.

This marked the beginning of Samvat 2081, the Hindu New Year. The Muhurat trading session, which commenced at 6:15 pm and ended at 7:15 pm, saw increased activity across various market segments, including commodity derivatives, currency derivatives, equity futures and options, and securities lending and borrowing.

This year, the NSE also launched its website in eight Indian languages and a new mobile app, further promoting accessibility and inclusion.

While the markets displayed optimism, experts advise investors to adopt a cautious and selective approach for the remainder of the year. Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, highlights the potential volatility stemming from the upcoming US elections and global economic uncertainties. He advises investors to refrain from high expectations for benchmark indices and instead focus on individual stocks with solid fundamentals until the market exhibits a clearer direction.

The positive sentiment was evident in the strong performance of individual stocks, with 118 hitting their 52-week highs today. Notable performers included Aditya Birla Sun Life AMC, Crisil, Fortis Healthcare, Jubilant Pharmova, Poly Medicure, Piramal Pharma, Suven Pharmaceuticals, and UTI Asset Management Company. However, 11 stocks touched their respective one-year lows.

The overall market momentum was positive, with 3,036 stocks advancing on BSE, compared to 542 declining. Top performers included Poly Medicure, BASF India, Brigade Enterprises, PCBL, Star Cement, Piramal Pharma, Maharashtra Scooters, and Jubilant Pharmova, with gains reaching up to 9.93%.

Key Sensex constituents driving the index higher included Mahindra & Mahindra, Reliance Industries Ltd, Axis Bank, HDFC Bank, Kotak Mahindra Bank, Tata Motors, ITC, NTPC, Infosys, Tata Consultancy Services (TCS), Bharti Airtel, and Adani Ports. M&M, Reliance, and Axis Bank contributed significantly to the overall positive performance.

All 16 sub-indices on NSE also closed in the green, with Nifty Auto, Nifty Consumer Durables, and Nifty Oil & Gas leading the pack with gains of 1.24%, 0.86%, and 0.84%, respectively.

Despite the optimistic market sentiment, foreign investors have continued their selling spree for 24 consecutive sessions, offloading stocks worth Rs 1.25 lakh crore. Domestic investors, however, remain net buyers for the 28th consecutive session. On Thursday, foreign portfolio investors (FPIs) sold Rs 5,813.3 crore, while domestic institutional investors (DIIs) bought Rs 3,514.6 crore of stocks.

Read More