On November 1, 2024, the Bombay Stock Exchange (BSE) Sensex surged nearly 448 points during the special Muhurat trading session, marking the commencement of Samvat Year 2081. The 30-share index rose by 447.90 points, or 0.56%, to close at 79,836.96, with all constituents trading positively. The index opened higher at 80,023.75 but experienced slight profit-booking later.
The National Stock Exchange (NSE) Nifty 50 also saw significant gains, climbing 150.10 points, or 0.62%, to settle at 24,355.45, with 47 of its constituents ending in the green.
Key contributors to the Sensex’s rise included Mahindra & Mahindra, which increased by 2.66%, Adani Ports by 1.42%, and Tata Motors by 1.35%. Other notable gainers were NTPC, Axis Bank, Titan, IndusInd Bank, Tata Steel, HDFC Bank, Reliance Industries, and Bharti Airtel.
Muhurat trading is a symbolic, one-hour session conducted by stock exchanges during Diwali, signifying the start of the new Samvat year. In the previous Samvat year 2080, which concluded on October 31, 2024, the BSE Sensex jumped 14,484.38 points, or 22.31%, while the Nifty climbed 4,780 points, or 24.60%.
Global markets presented a mixed picture. European shares rose in early trade, while most Asian markets closed with losses. Japan’s benchmark Nikkei 225 dropped 2.6%, the Shanghai Composite slipped 0.2%, and South Korea’s Kospi lost 0.5%. Conversely, Hong Kong’s Hang Seng index added 0.9%.
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The Muhurat trading session is considered auspicious, with investors participating to seek prosperity in the new financial year. The positive performance of the Indian markets during this session reflects investor optimism and confidence in the country’s economic prospects.