Sensex Ends Over 300 Points Higher As Markets Begin Samvat 2078 On Positive Note

India’s benchmark stocks started positively into the Hindu New Year Sambat 2078 with a special trading session with Muflat on the occasion of the Diwali festival.

Sensex rose 436 points and the Nifty50 index hit a daily high of 17,947 as traders and investors made regular trades, to mark a profitable opportunity. In the hour-long session, HDFC Bank, Reliance Industries, ITC, Kohtak Mahindra Bank, Mahindra & Mahindra were among the top Sensex bikes, with 25 out of 30 performing well.

The Sensex closed at 60,068 points, up 296 points, or 0.5%, and the Nifty 50 index rose 88 points to 17,917 points.

For the trading community, the new fiscal year starts the day after Diwali. That is why pujas are made for books, domes and tijoris on Dhanteras and Diwali days.

According to BSE, the coin will be placed in the book before the puja, meaning wealth, and the coin will be kept and reused at the next Diwali puja.

The BSE, meanwhile, went into cross-sector buying as all 19 sector indicators rose, driven by a 1.5% gain in the S&P Auto Index, excluding the gauge from metals stocks.

The index of consumption goods and services, fast consumer goods, health, industry, telecommunications, capital goods, durable consumer goods, oil and gas rose 0.55-1.15%.

Medium and small cap stocks also showed a willingness to buy, as the S&P BSE MidCap Index was up 0.73% and the S&P BSE SmallCap Index was up 1.4%.

Eicher Motors was the top winner from Nifty, whose shares rose 6% after popular motorcycle maker Royal Enfield reported a net profit of Rs 373.20 compared to Rs 343.34 for the same quarter last year.

The transaction was completed at 2670 rupees. 9 percent. Business turnover increased 5% per year and reached 2,216 rupees.

Mahindra & Mahindra led the Sensex index with 30 shares, up 2.7%, to close at Rs 872. ITC, Bajaj Auto, Larsen & Toubro, Kotak Mahindra Bank, Nestle India, Sun Pharma, IndusInd Bank, Tech Mahindra and HDFC Bank also grew 0.8 -1.8%.

On the other hand, dr. Reddies Lab, HDFC, Asian Paint, Ultratech Cement, and ICICI Bank are notorious losers.

The overall market area was positive as 2,578 shares closed high and 529 shares on BSE fell.