Closing Bell: Muhurat Trade kickstarts Samvat 2080 on a firm note; Markets end strong, Nifty above 19,500 and Sensex closes with over 350 points gain, Nifty Small-cap Index hits new 52-week high

Diwali Muhurat trading Highlights: The benchmark equity indices NSE Nifty 50 and BSE Sensex closed with gains during the Muhurat trading session on the auspicious occasion of Diwali 2023. The NSE Nifty 50 gained 100.20 points or 0.52% to settle at 19,525.55, while the BSE Sensex added as much as 354.77 points to 65,259.45. The Bank nifty index closed 176.55 points or 0.40% up at Rs 43,996. 55. The Nifty Small-cap index jumped more than 1% hits its 52-week high. The broader indices ended largely in positive territory, with gain led by Midcap and Smallcap stocks. Metal and IT stocks gained the most among the other sectoral indices. Coal India, UPL, Infosys, Eicher Motors and Wipro were the top gainers while the laggards included Britannia Industries, Sun Pharma, Apollo Hospitals, Bajaj Finserv and LTIMindtree.

19:44 (IST) 12 Nov 2023 Expert View On Muhurat Trade

Motilal Oswal, Group MD & CEO, Motilal Oswal Financial Services

“Entering into Samvat 2080, we believe India would continue to shine and expect markets to maintain its outperformance. We believe that over the next couple of quarters, sector rotation would be an important driver along with the overall market uptrend. We expect sectors like BFSI, Discretionary Consumption, Construction & Real Estate and High Growth Niche Sectors to drive the overall market uptrend.”

19:39 (IST) 12 Nov 2023 Markets at close

The NSE Nifty 50 gained 100.20 points or 0.52% to settle at 19,525.55, while the BSE Sensex added as much as 354.77 points to 65,259.45.

19:28 (IST) 12 Nov 2023 Expert View On Muhurat Trade

Sunil shah, Director – Khambatta Securities

“Indian equities are expected to outperform most other global markets in the face of continued geopolitical uncertainties and relatively higher domestic economic growth. The major themes will be domestic consumption and premiumisation, enabling companies to post strong earnings growth aided by margin accretion. Infra and construction plays are expected to do well as the government’s thrust on infrastructure development is seen to continue, while higher budgetary allocation in rural-focus schemes can help drive a recovery in rural consumption, especially with the upcoming budget being the last one before the general elections. In spite of rich valuations in the small- and mid-cap segments, companies with fundamentally strong businesses and good earnings growth continue to justify their valuation. If US bond yields start coming down by the second half of CY2024, FPIs will come back to the party. Upcoming state and general elections can make the market move sideways. Inflation, interest rate trajectory, and geopolitical tensions will remain the key risks.”

19:24 (IST) 12 Nov 2023 Nifty Small-cap Index hits record highs

The Nifty Small-cap index hits a record high of Rs13,560 making a new 52-week high closed up by 1.14% on the first trading session of Samvat 2080.

19:18 (IST) 12 Nov 2023 Top Gainers in Mid-caps

Balkrishna Ind., Cummins, TATA Communication, Bharat Forge, and Persistent System are the top gainers on Mid-cap index.

19:15 (IST) 12 Nov 2023 Large Cap Sparkle In Diwali Trade

Broadbase upmove across large caps led by Coal India

19:15 (IST) 12 Nov 2023 Cupid shines

The stock price of Cupid soared 10% to hit a fresh 52-week high of Rs 898.85.

19:12 (IST) 12 Nov 2023 Nifty PSE star amongst Sectoral Indices

Power Finance Corp, NMDC, BEL, REC, NTPC among top gainers

19:12 (IST) 12 Nov 2023 Top Gainers In F&O

Power Finance, MCX India, Coal India, NMDC, and REC are the top gaining on the F&O segment.

19:12 (IST) 12 Nov 2023 Volume gainers

Palash Securities, Pix Transmissions, NGL Fine-Chem, Indian Card Clothing Company and Roto Pumps are the top volume gainers on the NSE.

19:06 (IST) 12 Nov 2023 Markets so far

(Source : NSE)

18:55 (IST) 12 Nov 2023 Nifty 50 Stocks at 52-week high

Coal India, ONGC, Power Grid, and Sun Pharma hits their 52-week high on Muhurat day trade.

18:55 (IST) 12 Nov 2023 The Key Losers

Bajaj Finserv, HDFC Life Insurance Company and Apollo Hospital are leading losses on the NSE.

18:51 (IST) 12 Nov 2023 Who are leading gains

Coal India, UPL, Infosys, Eicher Motors and Wipro are the leading gainers on the NSE Nifty 50.

18:50 (IST) 12 Nov 2023 Top Losers In F&O

Glenmark Pharmaceuticals, Ipca Labs, Vedanta, Balrampur Chini, and Max Financials are top top losers on F&O segment

18:47 (IST) 12 Nov 2023 Active stocks

Coal India, CDSL, HDFC Bank, BSE and Jio Financial Services are the most active stocks on the NSE.

18:44 (IST) 12 Nov 2023 Expert View on Muhurat Trade

Prashanth Tapse, Senior VP Research Analyst, Mehta Equities

“As we bid farewell to Samvat 2079, the horizon of Samvat 2080 looks promising. Wishing you a joyous Deepavali and prosperous times ahead. With Nifty at 19425 and Sensex at 64905, anticipation builds for an electrifying start, especially in today’s special Muhurat trading session at 6.00 PM. Our ‘Diwali Picks 2023’ features 12 stocks with balanced investment potential, including names like HDFC Bank, L&T, Tata Motors, Indigo, Tata Power, ABFRL, Crompton Greaves Consumer Electricals, Usha Martin, Doodla Dairy, Ashoka Buildcon, LG Bal Bros, and Imagica. We recommend accumulating these value picks with strong fundamentals for potential growth. The market optimism is fueled by factors such as the Federal Reserve’s efforts for a “soft landing,” robust GST numbers, active retail participation, easing Middle East hostilities, and declining WTI oil prices.”

18:43 (IST) 12 Nov 2023 Top Gainers on Realty Index

Swan Energy leads the gains in the Realty index, up by 7%, followed by Mahindra Lifespace Developers, Sobha, and Godrej Properties, each gaining over 1% in the Muhurat Day session.

18:43 (IST) 12 Nov 2023 Sectoral outlook

The Realty, Consumer Durables, IT, Media, Metal, and Oil & Gas indices are the leading gainers among the sectoral indices.

18:38 (IST) 12 Nov 2023 Volume Gainers

Palash Securities, Palash Securities, Roto Pumps, Indian Card Clothing Company and NGL Fine-Chem are the top volume gainers on the NSE.

18:35 (IST) 12 Nov 2023 Markets so far

(Source: NSE)

18:35 (IST) 12 Nov 2023 Recent IPO gainers

Esaf Small Finance Bank, Blue Jet Healthcare, Valiant Laboratories, and JSW Infrastructure gains more than 2% on the start of Samvat 2080.

18:31 (IST) 12 Nov 2023 Auto stocks see steady gains

Two-wheeler, CV and component players see steady gains.

TVS Motors, Hero MotoCorp, Eicher Motors firm

Ashok Leyland rises in Muhurat trade

18:29 (IST) 12 Nov 2023 Dalal Street celebrates Diwali

18:28 (IST) 12 Nov 2023 Active stocks

JP Power, Yes Bank, Vodafone Idea, RattanIndia Power and Reliance Power are the most active stocks on the NSE Nifty 50.

18:27 (IST) 12 Nov 2023 Top gaining sectors

Nifty Realty, Consumer Durables, Oil & Gas, Nifty Media, and Nifty Metal are the top gaining sectors.

18:25 (IST) 12 Nov 2023 Coal India hits 52-week high

Stock price of Coal India surged nearly 4% to hit a fresh 52-week high of Rs 335.85.

18:20 (IST) 12 Nov 2023 Markets at open

The NSE Nifty 50 opened at 19547.25 up 0.62%, while the BSE Sensex opened at 65,418.98 up 514.3 points.

18:20 (IST) 12 Nov 2023 Early gainers at NSE

Coal India, UPL, Eicher Motors ,NTPC, and Infosys are the top gainers on NSE Nifty 50.

18:19 (IST) 12 Nov 2023 Banks clock steady gains

Axis Bank, ICICI Bank, HDFC Bank clock steading gains

18:15 (IST) 12 Nov 2023 Markets at pre-open

Benchmark equity indices NSE Nifty 50 and BSE Sensex soared more than a percent each in pre-open session

17:59 (IST) 12 Nov 2023 Prabhudas Lilladher’s top Mid and Small-cap picks for Diwali 2023

Greenpanel Industries, Navin Fluorine International, Navneet Education, R R Kabel, Safari Industries, Suntek Realty, and Zee Entertainment Enterprises are the top picks in mid-cap and small-cap segment, from Prabhudas Lilladher for Diwali 2023.

17:57 (IST) 12 Nov 2023 Equity market outlook for Samvat 2080

“Indian equities are expected to outperform most other global markets in the face of continued geopolitical uncertainties and relatively higher domestic economic growth. The major themes will be domestic consumption and premiumisation, enabling companies to post strong earnings growth aided by margin accretion. Infra and construction plays are expected to do well as the government’s thrust on infrastructure development is seen to continue, while higher budgetary allocation in rural-focus schemes can help drive a recovery in rural consumption, especially with the upcoming budget being the last one before the general elections. In spite of rich valuations in the small- and mid-cap segments, companies with fundamentally strong businesses and good earnings growth continue to justify their valuation. If US bond yields start coming down by the second half of CY2024, FPIs will come back to the party. Upcoming state and general elections can make the market move sideways. Inflation, interest rate trajectory, and geopolitical tensions will remain the key risks,” said Sunil shah, director at Kambatta Securities.

17:55 (IST) 12 Nov 2023 Prabhudas Lilladher’s top Large Caps picks for Diwali 2023

Hindalco Industries, ICICI Bank, Maruti Suzuki, Max Healthcare Institute, Siemens, and Titan Company are the top large-cap picks, from Prabhudas Lilladher for Diwali 2023.

17:53 (IST) 12 Nov 2023 Samvat 2080 and the future market outlook

“The Indian economy currently finds itself in a sweet spot of growth and is well-poised for continued resilience in the face of global challenges. Samvat 2080 will be quite a fascinating year to watch out for the global economy. We embark on this new Samvat with a narrative marked by ‘Higher for Longer’ interest rates, volatile bond yields, geopolitical conflicts in the Middle East, and fluctuating oil prices. However, on the domestic front, the prospects for the Indian economy appear notably brighter and more promising. Amid a volatile global landscape, India remains in a favourable position for growth, which will be a significant driving force behind Indian equities in the foreseeable future. The improvement in the balance sheet strength of corporate India and the much-improved health of the Indian banking system are other positive attributes. They will ensure that Indian equities readily deliver double-digit returns in the next 2-3 years with the support of double-digit earnings growth,” said Pranav Haridasan, MD & CEO, Axis Securities.

17:49 (IST) 12 Nov 2023 Samvat 2080 outlook

“The Indian economy currently finds itself in a favourable growth position and is well-prepared to exhibit resilience in the face of global challenges. As we enter the new Samvat 2080, it promises an exciting year for the worldwide economy. This new period is marked by continuing higher interest rates over an extended period, fluctuating bond yields, geopolitical tensions in the Middle East, and volatile oil prices. On the domestic front, the outlook for the Indian economy appears particularly promising and bright. Despite the turbulence in the global landscape, India is on a favourable growth trajectory, which will serve as a significant driving force for Indian equities shortly. The improvement in the financial health of corporate India’s balance sheets and the significantly enhanced state of the Indian banking system represent additional positive factors. These elements are poised to ensure that Indian equities consistently deliver double-digit returns in the next 2-3 years, supported by substantial double-digit earnings growth,” said Shauryam Gupta, CEO of Rupeezy.

17:46 (IST) 12 Nov 2023 Gold Shine’s this Diwali!

“In the past year, gold has provided opportunities for both bulls and bears, as well as improved value for investors’ money. Bullions’ luster was shortly removed by a major central bank’s aggressive rate hike, but recent developments regarding geopolitical concerns, anticipations of a change in the existing monetary policy attitude, and central banks’ gold-buying binge all contributed to a strong support for gold prices. There are undoubtedly certain headwinds that the metal is facing, like expectations of a softer landing, additional rate increases, an ease in geopolitical tensions, and higher real rates that could limit gains in the metal. An ease off in recent Middle East dispute and/or hawkish statements from Fed in the recent policy meeting, gold prices could witness a correction. However, above factors will have a hangover for longer than expected and will keep the party going for gold bulls helping it guide towards our medium target of Rs. 63,000. Similarly, buy on dips stance can be maintained for silver as well. There are many investment avenues for market participant’s w.r.t gold, along with Sovereign Gold Bond (SGB), we also have option of Gold ETF, Digital Gold, physical or trading in the market depending on the investors risk profile.”

– Manav Modi, Analyst, Commodities & Currencies, Motilal Oswal Financial Services.

17:44 (IST) 12 Nov 2023 Motilal Oswal’s Top Picks For Diwali 2023

State Bank of India, Titan Company, Mahindra & Mahindra, Cipla, Indian Hotels, Dalmia Bharat, Kayne Tech, Raymond, Spandana Sphoorty, and Restaurant Brands Asia are the top pics of Motilal Oswal Financial Services for Diwali 2023.

17:39 (IST) 12 Nov 2023 Top 10 stocks with highest returns

(Source: NSE)

17:37 (IST) 12 Nov 2023 Outlook for the Samvat 2080

“In light of mounting fundamental tailwinds, the market is poised to sustain its prevailing bullish momentum into Vikram Samvat 2080. Renowned global banks and financial institutions have clearly expressed optimism towards the Indian market. The stage of a bullish scenario is being set by strong corporate performance, overwhelming domestic economic numbers, and growing expectations of the return of the Modi government, known for its pro-business policies. FDI inflows in India stood at US $ 45.15 billion in 2014-2015 which has increased to the highest ever FDI at $83.6 billion in 2021-2022. The bullish sentiment is further bolstered by the speculation that the U.S. Federal Reserve has concluded its rate hike cycle, a factor contributing to the positive market outlook.

Investment in equity and gold should depend on your investment objective, time horizon, and risk profile, but proper asset allocation is require in the portfolio. Gold has been considered a safe-haven asset and used as a hedge against inflation. Gold should be viewed as a long-term investment option rather than a short-term investment. Equity markets have remained volatile both in India and globally but outperformed against other asset class. One should invest in equity from a long-term investment perspective, the equity market can deliver a phenomenal return. Ideally, you should diversify investments in sync with your risk appetite and your original investment plan that you have made for achieving your short and long-term financial goals.”

– Harjeet Singh Arora, Managing Director at Mastertrust.

17:35 (IST) 12 Nov 2023 Muhurat Trading

Muhurat Trading, a time-honored practice with almost five decades of history, carves out a specific trading window on the auspicious occasion of Diwali. This tradition carries profound significance, especially among Hindus who partake in various customs associated with wealth, such as the acquisition of gold jewelry and utensils. The session on Diwali is a multi-phased affair, including the Block Deal session, the pre-open market session, the normal market session, the call auction session, and the closing session. Of these phases, the one-hour normal market session is the focal point and the most bustling. The tradition of Muhurat trading commenced in the Bombay Stock Exchange (BSE) in 1957 and the National Stock Exchange (NSE) in 1992.