Muhurat trading: Sensex, Nifty hit record closing highs

NEW DELHI: Markets conducted a special one-hour Muhurat trading session on Diwali (Saturday) to mark the beginning of Samvat 2077. The Hindu calendar year starts on Diwali and it is believed that Muhurat trading brings prosperity and wealth throughout the year.
The benchmark BSE sensex jumped 195 points or 0.45 per cent to hit record closing of 43,638 and similarly the broader NSE Nifty settled 60 points or 0.47 per cent higher at 12,780. Sensex surged more than 350 points to hit an all-time high of 43,831 in opening session; while Nifty traded above 12,800-mark for the first time ever before settling a bit lower.
Top gainers in the BSE pack included Bharti Airtel, Tata Steel, Sun Pharma, Bajaj Finserv, ITC and Infosys with their stocks rising as much as 1.17 per cent. On the NSE platform, all the sub-indices ended in green with Nifty Realty up as much as 0.79 per cent.
Brokers said buying activity gathered momentum as investors opened their books on the first session of Samvat 2077.
Both the indices closed Hindu calendar year Samvat 2076 with smart gains. The 30-share BSE pack had rallied 4,385 points or 11.22 per cent, while the Nifty index had soared 1,136 points or 9.80 per cent.
Investors and traders perform rituals to honour account books and cash chests. Before the trading session, investors and stockbrokers perform ‘Chopda Poojan’ to seek blessings from Laxmi and Ganesh.
The timing of trading changes every year, depending on the auspicious hour of the day. The trading community has been following this tradition for over half a century now. Since 1957, BSE has been holding this special trading session and NSE followed along since 1992.
“Muhurat trading is the auspicious stock market trading for an hour on Diwali (Deepawali) … As Diwali also marks the beginning of the New Year, it is believed that Muhurat trading on this day brings and wealth and prosperity throughout the year,” according to the NSE.
Both stock exchanges will remain closed on November 16 (Monday) for Diwali Balipratipada.

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