Market Begins Samvat 2078 On Positive Note, Sensex Rises 296 Points

Indian fairness benchmarks made a optimistic begin to Samvat 2078, the Hindu New Yr, within the particular Muhurat Buying and selling session to mark the pageant of Diwali. The Sensex rose as a lot as 436 factors and Nifty 50 index touched an intraday excessive of 17,947 as merchants and buyers made customary trades to mark the auspicious event. Within the one-hour lengthy session, HDFC Financial institution, Reliance Industries, ITC, Kotak Mahindra Financial institution and Mahindra & Mahindra have been among the many high movers within the Sensex, which noticed twenty 5 out of 30 shares shut on a optimistic notice.

The Sensex ended 296 factors or 0.5 per cent greater at 60,068 and Nifty 50 index superior 88 factors to shut at 17,917.

For the buying and selling communities the brand new monetary yr begins with the subsequent day after Diwali. That’s the reason pooja is carried out for account books, safes and tijoris on Dhanteras in addition to on Diwali day. A coin is positioned on the account books earlier than the pooja which is meant to indicate wealth, and the coin is preserved and once more used within the pooja within the subsequent Diwali, BSE stated.

In the meantime, shopping for was seen throughout the sectors as all of the 19 sector gauges, barring the measure of metallic shares, on the BSE ended greater led by the S&P Auto index’s over 1.5 per cent acquire.

Client Discretionary Items & Companies, FMCG, Healthcare, Industrials, Telecom, Capital Items, Client Durables, and Oil & Gasoline indices rising between 0.55-1.15 per cent.

Mid- and small-cap shares additionally witnessed shopping for curiosity as S&P BSE MidCap index rose 0.73 per cent and S&P BSE SmallCap index superior 1.4 per cent.

Eicher Motors was high Nifty gainer, the inventory rose 6 per cent to shut at Rs 2,670 after the maker of in style Royal Enfield motorbike on Wednesday reported internet revenue Rs 373.20 crore in contrast with Rs 343.34 crore in the identical quarter final yr, marking a rise of 9 per cent. Its income from operations superior 5 per cent yearly to Rs 2,216 crore.

Mahindra & Mahindra was high gainer within the 30-share Sensex index, the inventory rose 2.7 per cent to shut at Rs 872. ITC, Bajaj Auto, Larsen & Toubro, Kotak Mahindra Financial institution, Nestle India, Solar Pharma, IndusInd Financial institution, Tech Mahindra and HDFC Financial institution additionally rose between 0.8-1.8 per cent.

On the flipside, Dr Reddy’s Labs, HDFC, Asian Paints, UltraTech Cement and ICICI Financial institution have been among the many notable losers.

The general market breadth was optimistic as 2,578 shares ended greater whereas 529 closed decrease on the BSE.