indian stock market
The way a drop in the market was seen in the month of October. Investors had little hope that the market could recover so soon. However, as usual, the market presented its new record. When the market opened as per the scheduled time on the occasion of Muhurat trading, a rise was seen in both Sensex and Nifty. Sensex gained 434 points to 79,823 and Nifty gained 111 points to 24,316.
These actions showed strength.
When the market opened, a rise was seen in shares of Mahindra & Mahindra, Tata Motors, NTPC, BEL and Eicher Motors in Nifty-50. These turned out to be the top gainers of the stock market in the initial phase. As far as the shares of Adani Group are concerned, selling was seen in the shares of Adani Enterprises, while the shares of the group’s Adani Power and Adani Energy traded briskly. At the same time, shares of Reliance Industries are also trading slightly higher.
Why is Muhurta trade special?
Indian stockbrokers see Diwali as the beginning of their financial year. Many investors consider purchasing stocks during this period as a way to invite prosperity for the coming year. This is a time for traders to diversify their portfolio. Although largely symbolic, there is often active participation in muhurat trading, and experienced investors take the opportunity to adjust their portfolios.
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In the last one year, when the Indian stock market was at its highest level, NSE Nifty has seen returns of up to 25 per cent. While the performance of BSE Sensex has been around 23 per cent. The country’s BSE Midcap and Smallcap indices performed tremendously and returned returns of up to 47%.
This is the story of Muhurta trade so far.
If we look at the history of the last 17 Muhurat trades, the number of rises in the market seems to be more than the number of falls. BSE Sensex closed higher in 13 of the last 17 Muhurat trading sessions. The BSE Sensex rose the most in 2008. Then, the Sensex had risen by 5.86 per cent to reach 9,008. However, the stock index performed well during these sessions.
