Diwali Muhurat trading 2024 live: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green for the special one hour trading session. While BSE Sensex moved above the 79,700 mark, Nifty50 was near 24,300. At around 6:02 PM, BSE Sensex was trading at 79,739.98, up 351 points or 0.44%. Nifty50 was at 24,335.10, up 130 points or 0.54%. The top BSE Sensex gainers include M&M, NTPC, Tata Motors, Adani Ports and Axis Bank. ICICI Bank and Powergrid were the BSE Sensex losers.
Indian benchmark indices have demonstrated strong performance since the previous Diwali, with Nifty and S&P BSE Sensex showing gains of 25% and 23% respectively from their 2024 peaks.
The broader market indicators showed even stronger performance, with BSE 500, BSE Midcap, and BSE Smallcap indices recording gains of 37%, 47%, and 47% respectively during this timeframe.
The annual Diwali Muhurat trading session is being held on Friday, November 1, 2024, at both NSE and BSE exchanges. The session is from 6:00 PM to 7:00 PM, initiating Samvat 2081.
Regular trading was suspended for Diwali, with only the special one-hour evening session taking place. This traditional trading session aligns with auspicious planetary positions and is considered beneficial for initiating new business ventures during the festival’s celebrations.
Analysis of previous special sessions reveals positive outcomes, with the BSE Sensex recording gains in 13 out of the last 17 sessions.
The approach to the new Samvat has been challenging, with Nifty experiencing a decline of 1,470 points (5.7%) in October, influenced by underwhelming Q2 earnings and valuation concerns. Several upcoming events could impact market performance, including US elections, state elections in Maharashtra, Jharkhand, and Delhi, plus the Union Budget in February.
SBI Securities stated in their analysis: “We believe Samvat 2081 will be a bottoms-up stock pickers market. Investors should adopt trading/investment strategy so as to preserve the wealth created post Covid pandemic and temper down return expectations for the next 6-12 months. New investors should adopt a gradual and well spread-out capital deployment strategy for the next 3-6 months so as to reap benefits in the second half of Samvat 2081.”