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Muhurta Trading: There has been a tremendous surge in the stock market on the trading occasion of Diwali. Sensex has crossed 500 points in the pre-open market and Nifty has also seen gains. Let us tell you that this session marks the beginning of a new era. It is believed that trading at ‘muhurta’ or auspicious times brings prosperity throughout the year. Actually, the Hindu calendar year starts with Diwali, which is called Samvat. This is the reason why traders consider it auspicious to do business on this day.
Let us tell you that on the last trading day of the week i.e. Friday, the Sensex closed at 64,904.68 points with an increase of 72.48 points or 0.11 percent. At one point during the trading, it fell to 251.25 points. Similarly, the National Stock Exchange’s Nifty also closed at 19,425.35 points with an increase of 30.05 points or 0.15 percent.
Samvat is ending on a Friday during the year 2079 BSE Sensex It rose 5,073.02 points or 8.47 percent, while the Nifty gained 1,694.6 points or 9.55 percent. During this period, the market capitalization of BSE listed companies was Rs. 43.81 lakh crore to over Rs. 3,20,29,232.24 crores.
Market will be closed on Tuesday: Next week there will be only 4 trading days from Monday to Friday. Actually, market on Tuesdays Diwali Sacrifice will be closed for the occasion. Last week, the BSE Sensex gained 540.9 points or 0.84 percent and Nifty 194.75 points or one percent increase.
Market cap of 4 companies decreased: Although the stock market saw a slight recovery last week, 4 of the top 10 most valuable companies saw a big drop in their market cap. The market cap of these four companies is Rs. 23,417.15 crore has decreased. Among them, IT majors Infosys and Tata Consultancy Services (TCS) have been hit the hardest.
Foreign Investors Sold: The month of November witnessed selling by Foreign Portfolio Investors (FPIs). So far this month in Indian markets Rs. 5,800 crores have been sold. Let us tell you that FPI withdrew Rs 24,548 crore in October and Rs 14,767 crore in September.