Samvat 2079: Sensex up 525pts; logs best Muhurat-day gain in 14 years
Muhurat Trading Session Wrap: Financial shares led by ICICI Bank, HDFC twins top gainers chart. Nestle, L&T also up smartly, while Hindustan Unilever sheds 3 per cent.
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Muhurat Trading session: The key benchmark indices started Samvat 2079 on a bullish note led by strong gains in financial and capital goods stocks.
In Monday's one-hour special trading session, the S&P BSE Sensex scaled a high of 59,994, and eventually settled 525 points higher at 59,832.
The NSE Nifty touched a high of 17,778, and ended with a solid gain of 155 points at 17,731.
In the process, the benchmark indices registered best-ever trading session on Muhurat day in the last 14 years, since 2008.
Among the Sensex 30 stocks, Nestle India surged 3 per cent. ICICI Bank, Larsen & Toubro, SBI and HDFC twins were the major gainers. On the flip side, Hindustan Unilever shed 3 per cent.
In the broader market, the BSE Midcap index was up 0.5 per cent, while the Smallcap index added a per cent.
Sectorally, the BSE Bankex, Capital Goods and and Telecom indices were up over a per cent each. The FMCG index finished a tad in red.
Flashback Samvat 2078 - The benchmark Sensex and Nifty ended marginally lower for the first time since Samvat 2071. However, the highlight of the year was the resilience of domestic markets and their sharp outperformance to global peers. READ MORE
7:55 PM
Market breadth extremely positive:: 2,662 advances v/s 744 declines
7:53 PM
Sectoral movers & shakers on the BSE
7:51 PM
Broader indices gain in tandem with benchmark Nifty 50
7:42 PM
Nifty 50 Movers & Shakers
chart
7:40 PM
Sensex 30 Heatmap:: Nestle, ICICI Bank lead gainers chart; HUL slips
7:29 PM
NSE Nifty 50 gains 154pts, ends at 17,731
7:24 PM
Closing Bell: Sensex ends 525 points higher at 59,832
7:15 PM
Debt MFs face lower risk, may put up a better show in Samvat 2079
Samvat 2079 could be rewarding for investors in debt mutual fund (MF) schemes, after disappointment in the last two years. READ MORE
7:07 PM
Jefferies on Reliance Industries
We lower our FY23E EBITDA by 2%, accounting for weaker O2C with export duties capping margins, Jio ests. lower with limited benefits of operating leverage and Retail estimates higher incorporating strong H1 performance. We forecast 10% Adj EPS CAGR over FY22-25E largely driven by Reliance Retail (RR) and Jio. Maintain Buy with price target of Rs 3,090.
Photo: Shutterstock
7:04 PM
MARKET COMMENT :: Jyotivardhan Jaipuria, founder, Valentis Advisors
The rate cycle will start slowing from the early part of next year and it will probably end in the middle of next year. By the end of the next calendar year, we will start looking at cuts in rates as well. We are probably going to see a recession in the US and Europe and consequently there will be an earnings slowdown.
Once the strength of the dollar peaks, we will see improvement in flows into emerging markets. The key headwind to watch out for will be any change in oil prices. We have seen our CAD go up and foreign reserves come down
Once the strength of the dollar peaks, we will see improvement in flows into emerging markets. The key headwind to watch out for will be any change in oil prices. We have seen our CAD go up and foreign reserves come down
Jyotivardhan Jaipuria
Topics : MARKET LIVE Muhurat trading Diwali MARKET WRAP Markets S&P BSE Sensex Nifty index Markets Sensex Nifty Reliance Industries Q2 results Global Markets Crude Oil Price Fund flow BSE NSE
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First Published: Oct 24 2022 | 5:19 PM IST