Muhurat Trading 2020: Benchmark indices soared to record highs led by gains across sectors

Domestic stock markets made a strong start to Samvat 2077 with benchmark indices Sensex and Nifty closing at record highs in the special, one-hour trading session on Diwali to mark the beginning of Samvat 2077. The Sensex rose as much as 388 points to hit an all-time high of 43,831 during the Muhurat session and the Nifty 50 index climbed 109 points to a record 12,829. Traders and investors make customary purchases on the occasion of Diwali in the Muhurat session.

The Sensex rose 195 points or 0.45 per cent to close at 43,638 and the Nifty 50 climbed up 60 points or 0.47 per cent to settle at 12,780 – both record closing highs.

In Samvat 2076, which is the period from Diwali 2019 to the eve of Diwali 2020, the Sensex added 4,384.94 points or 11.23 per cent, and the Nifty soared 10 per cent.

In Saturday’s Muhurat session, buying was visible across sectors, with all of the eleven sectoral gauges on the National Stock Exchange ending higher, led by a 0.5 per cent gain in the Nifty IT index. Banking, auto, financial services, fast-moving consumer goods, IT and realty shares also witnessed buying interest.

Mid- and small-cap shares also contributed to overall gains, with the Nifty Midcap 100 and Nifty Smallcap 100 indices ending 0.40 per cent and 0.70 per cent higher respectively.

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In the Nifty basket of 50 shares, 35 stocks ended higher led by Bharat Petroleum, which rose more than 4 per cent. Indian Oil, Tata Motors, HDFC Life, Sun Pharma, Coal India, GAIL India, Tata Steel, HDFC Bank, Infosys and UPL were also among the gainers.

On the flipside, Hindalco, Hero MotoCorp, JSW Steel, State Bank of India, Bajaj Finance, State Bank of India, Shree Cements, Titan, Axis Bank, Power Grid and IndusInd Bank were among the losers.

Overall market breadth was extremely positive, as 1,834 shares closed higher on the BSE against 614 that settled lower in the special Muhurat trading session.

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