Diwali Muhurat trading closing bell: Sensex rallies 192 points, Nifty crosses 11,600-mark as Samvat 2076 gets off to auspicious start; Tata Motors surges over 17%
Reliance Industries stocks hit a new high of Rs 1,445.
The BSE Sensex was up 227.47 points or 0.58 percent at 39285.53, and the Nifty rose 53.60 points or 0.46 percent at 11637.50
In the last Muhurat trading session, conducted on 7 November, 2018, the S&P BSE Sensex index climbed 0.7 percent to end at 35,237.68 and the broader NSE Nifty benchmark rose 0.65 percent to shut shop at 10,598
Reliance Industries stocks hit a new high of Rs 1,445 during special muhurat trading session on Sunday
After opening 200 points high, the benchmark BSE Sensex was 192.14 points or 0.49 percent higher to end at 39,250.20 at the close of the special muhurat trading session on Sunday on the Bombay Stock Exchange today. The Nifty50 was trading 43.25 points or 0.37 percent higher at 11,627.15.
The special muhurat trading session marks the beginning of Hindu Samvat year 2076.
The 30-share index, after opening on a firm footing at 39,397.37, inched up to 39,402.23 as investors accumulated select auto, IT and bank stocks.
It pared some gains on profit-booking and finally ended at 39,250.20, up 192.14 points, or 0.49 percent.
On similar lines, the broader NSE Nifty climbed 43.25 points, or 0.37 percent, to finish at 11,627.15.
The top-Nifty50 gainer was Tata Motors, which was up 16 percent.
In the last Muhurat trading session, conducted on 7 November, 2018, the Sensex index climbed 0.7 percent to end at 35,237.68 and the broader NSE Nifty benchmark rose 0.65 percent to shut shop at 10,598.
During the special muhurat session on Sunday, Bharti Infratel remained the top loser, trading 3 percent down.
Tata Motors, YES Bank, M&M, Vedanta, and Infosys remained the Nifty50 top-gainers while Bharti Infratel, Coal India, Titan, Grasim and Zee Entertainment remained the top-laggards.
— CNBC-TV18 (@CNBCTV18Live) October 27, 2019
In the Sensex kitty, prominent gainers were Tata Motors, Yes Bank, M&M, Vedanta, Infosys and Tech Mahindra, spurting up to 16.54 percent, according to a PTI report.
However, losers included Maruti, Bharti Airtel, TCS and HCL Tech, which lost up to 0.78 percent.
Brokers said buying activity gathered momentum as investors opened their new books on the first session of Samvat 2076.
Barring telecom and consumer durables, all BSE sectoral indices finished in the green, led by industrials, auto, basic materials and capital goods.
Market opens over 200 points high
The Sensex opened over 200 points high during the special muhurat trading at the Bombay Stock Exchange on Sunday. The Nifty crossed the 11,600-mark. Tata Motors, Reliance, Infosys, Yes Bank, ITC were among early gainers.
The BSE Sensex was up 227.47 points or 0.58 percent at 39285.53, and the Nifty rose 53.60 points or 0.46 percent at 11637.50. About 1,488 shares have advanced against 430 declining shares on the BSE.
On the auspicious occasion of Diwali, a special 'Muhurat Trading' session was held at the Bombay Stock Exchange on Sunday. The trading session took place during the Lakshmi Puja at the BSE building, which was attended by CEO Ashish Chavan. The actress Mouni Roy was also present on the occasion. The session is considered auspicious to signify the beginning of traditional Hindu accounting year called Samvat.
Kapil Shah, instructor at Finlearn Academy, said the index showed a very good start on the muhurat trading session. "It was a broadbased rally and the advance decline was very good. Mid-cap stocks also participated in moment. Auto stocks remained the torch bearers", he said.
#CNBCTV18Market | Market opens higher on Mahurat day; Nifty near 11,650 whereas broader indices outperform benchmarks. Tata Motors surges 17% after Q2 results for more LIVE updates, log on to https://t.co/t2L030qLoC pic.twitter.com/xVQbfQCbwC — CNBC-TV18 (@CNBCTV18Live) October 27, 2019
Barring telecom, all BSE sectoral indices were in the green, led by auto, industrials, metal and basic materials.
Brokers said buying activity gathered momentum as investors opened their books on the first session of Samvat 2076. However, Bharti Airtel, TCS, HUL, Maruti and PowerGrid slipped up to 1.86 percent.
Infosys was the top boost to the Nifty with a gain of 1.4 percent.
Tata Motors stock surged 17 percent intraday after the company's net loss came in at Rs 216.6 crore for the September quarter of FY20, according to CNBC-TV18. The company had reported a net loss of Rs 1,048.80 crore in the corresponding quarter of the last financial year. The group's consolidated revenue came in at Rs 65,432 crore, lower than Rs 71,981.08 crore in the same quarter last year.
The company said growth continues to be affected by subdued demand, higher axle loads, liquidity stress, low freight availability for cargo operators and general economic slowdown.
Jaguar's EBITDA margin stood at 13.8 percent which is among the highest in the last 16 quarters, the company claimed. EBIT margin came at 4.8 percent.
Yes Bank shares rose 8 percent intraday on the NSE during muhurat trading. Intraday, the stock surged 8.24 percent at Rs 56.45 per share.
Yes Bank announced it will take over Rs 6,000 crore of land held by Sumer Group in Radius JV over non-payment of Rs 479 crore loan, according to its last BSE filing,
"The Borrowers and Mortagagors having failed to repay the amount, notice is hereby given to the Borrower/Mortgagors and the public in general that the undersigned has taken the possession of the property described herein below in exercise of powers conferred on him under Section 13(4) of the said Act," said the BSE filing.
Reliance Industries Ltd (RIL) stocks hit a new high of Rs 1,445. The board of RIL on Friday (25 October) had approved the formation of a wholly-owned subsidiary for its digital initiatives with an investment of Rs 1.08 lakh crore. This will be infused through the rights issue of optionally convertible preference shares (OCPS), the company said.
Bharti Infratel, Grasim, Bharti Airtel, Titan and Coal India were among the top losers.
Foreign institutional investors (FIIs) net sold shares worth Rs 435.42 crore on Friday, while domestic institutional investors bought to the tune of Rs 440.16 crore, as per provisional data.
Muhurat session considered 'auspicious'
The session is considered auspicious to signify the beginning of traditional Hindu accounting year called Samvat.
The mat is trading with healthy gains on Muhurat trading, backed by gains in shares of Infosys, HDFC Bank, Tata Motors and Reliance Industries. Bharti Airtel, TCS and Maruti, however, were among the top drags on the Sensex index.
Markets to be shut tomorrow
The financial markets will remain closed on Monday, 28 October for Diwali Balipratipada. After the muhurat trading session on Sunday, trading will resume next on Tuesday, 29 October.
--With inputs from agencies
(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)
The top gainers of BSE Sensex were IndusInd Bank, HCL Technologies, Kotak Bank, Bajaj Auto, and Tech Mahindra. While HDFC, Nestle India, Hindustan Unilever, and Tata Steel were the top losers
BSE MidCap rose by 323.16 points or 1.28 percent to end at 25,489.70 while BSE SmallCap gained 252.82 points to rise by 0.91 percent to 28,108.92
Sensex went up by 514.34 points to end at 59,005.27 while Nifty ended at 17,562.00 after a gain of 165.10 points.