Muhurat Trading Session Highlights: Investors booked profits dragging Sensex off its all-time high. The Sensex closed 194 points to 43,637.98 while the Nifty50 index closed at 12,770.6, up 51 points.All sectoral indices ended in the green, with Nifty IT as the best-performing index during the Muhurat Trading session. BPCL, Indian Oil Corporation, Tata Motors, HDFC Life and Sun Pharma were the best-performing stocks of the Nifty50.
Key Highlights of the Muhurat Trading session:
1. BPCL remained the top Nifty50 gainer
2. Sun Pharma was the top BSE gainer while SBI remained the worst performer
3. Top Sensex contributors were HDFC Bank, Infosys, Reliance Industries and TCS
4. All sectors on BSE and NSE ended in the green
5. Midcap and smallcap indices outperformed the benchmarks
6. About 1,803 shares have advanced, 621 shares declined, and 128 shares are unchanged.
Muhurat Trading Close: Investors booked profits dragging Sensex off its all-time high. The Sensex closed 194 points to 43,637.98 while the Nifty50 index closed at 12,770.6, up 51 points. Nifty Smallcap 100 index settled 0.67 percent higher while the Nifty Midcap100 index ended 0.38 percent higher. All sectoral indices ended in the green, with Nifty IT as the best-performing index during the Muhurat Trading session. BPCL, Indian Oil Corporation, Tata Motors, HDFC Life and Sun Pharma were the best-performing stocks of the Nifty50 index while Hindalco, Hero MotoCorp, JSW Steel, SBI and Bajaj Finance remained the top losers. About 1803 shares have advanced, 621 shares declined, and 128 shares are unchanged.
Shankar Sharma to CNBC-TV18:
- Emerging markets have started to outperform after 10 years
- Have always found zero correlations between FII flows and market direction
- Nobody can ever predict what FII flows are
- The tide is changing, outcome of trade beginning to change
- Chemical names saw a trigger due to plant shutdowns in China
Sameet Chavan of Angel Broking suggests not to take any contradictory bets in a strong bull run right now
Traders are advised not to expect any meaningful correction in the near future and hence, do not venture into taking contradictory bets in such a strong Bull Run. We are sounding extremely optimistic because almost all major sectors are contributing to this surge and hence, can be considered a robust one. The broader market has also started to give some mesmerizing moves and mind you, this is just a beginning of the mega Bull Run. So fasten your seat belts and gear up to take off post Diwali as well, said Sameet Chavan.
Morgan Stanley sells shares of Indiabulls Real Estate: Morgan Stanley Asia (Singapore) Pte sold 47,79,929 equity shares of Indiabulls Real Estate at Rs 60.36 per share on the NSE. (Source: Moneycontrol)
Top gainers since last Samvat: Divi's Laboratories, Dr Reddy's Laboratories, Infosys, Cipla and JSW Steel rose up to 90 percent sine last Samvat. Divi's jumped 94 percent while Dr Reddy's climbed about 70 percent. Infosys, Cipla and JSW Steel rose 50-60 percent.
Manish Chokhani to CNBC-TV18:
- Lower cost of money has made people go out and take risk
- Will see 2 years of 20% plus growth
- Believe organised sector will come out winning this year
Stock Update: Tata Steel jumped up to 3 percent to Rs 499.5 per share on the NSE during the Muhurat trading session as the company reported a 59.6 percent year-on-year (YoY) fall in Q2FY21 profit at Rs 1,635.4 crore against Rs 4,043.5 crore in the corresponding quarter a year ago. Total revenue from operations stood at Rs 37,154 crore against Rs 34,579 crore YoY. EBITDA stood at Rs 6,217 crore against Rs 3,893 crore YoY. All major sites in India operating close to full capacity utilization, said the company.
Market Opens: Sensex opened 288 points higher to 43,728.34 while the Nifty50 index opened at 12,806.85, up 87 points. Broader markets also opened in the green, about 0.6 percent higher each. All the sectoral indices traded in the green while Nifty Bank remained the best-performing one. BPCL, Tata Motors, Eicher Motors, Bajaj Finserv and IndusInd Bank were the top gainers of the Nifty50 index while NTPC, Grasim and Power Grid remained the index top losers.
Gold Prices Update: Gold and silver prices rose today in the Indian markets on the occasion of Diwali. Gold prices crossed Rs 51,000 per 10 grams while silver rose to Rs 63,940 per kg.
Muhurat Trading Live
Here's how to plan your financial prosperity this Diwali
Financial prosperity should be planned irrespective of occasions. However, as Diwali is considered to be one of the most auspicious occasions, many people prefer decision making for wealth management around this occasion.
In view of this, let's see how one can plan their financial prosperity this Diwali:(Compiled by Pranjal Kamra, CEO, Finology):
Don't let urge take over financial sensibility
This is the time when people are generally lured by 'Festive Offers', discounts, etc. on consumer goods, gold, etc.
Before going for these offers it is wise to ask "Do I really need it?" If yes, then go for it, otherwise, avoid it and save money (or put it to some better use like investing). Don't let budgeting go for a toss due to external factors.
Learn, plan, strategize and then invest
It's more important to know 'what not to do' rather than knowing 'what to do'. Devote free time to enlighten oneself with financial knowledge and awareness.
This will help for the rest of life in achieving and maintaining prosperity, as any individual will be able to set sensible financial goals and devise ways to achieve them.
Keep a back-up, don't be overconfident
Sometimes things may feel so right that one may ignore the risks and challenges involved. And then, he/she may regret later (if things don't go their way).
The right insurance coverage or adequate emergency fund will be the saviours anytime. Financial decision making without back-up could be suicidal and may take up far away from prosperity. So, proper back-up(s) should be planned and kept to keep the prosperity goals intact.
Welcome to our Muhurat Trading Live blog!
A very happy and prosperous Diwali to all our readers! I am Mousumi Paul from the desk team of CNBC-TV18 and I will be updating you on all the trades during Muhurat trading. Stay tuned!