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There was a decline in the stock market in the month of October. Investors had little hope that the market would be able to bounce back so quickly. However, as always, the market has set new records. On the occasion of Muhurat trading, when the market opened at the scheduled time, a rise was seen in both Sensex and Nifty. Sensex rose 435 points to 79,823 and Nifty rose 111 points to 24,316.
Earning Rs 4 lakh crore in 1 hour
When the market closed after one hour of Muhurat trading, both Sensex and Nifty continued to rise. Sensex rose by 335 points to 79724 and Nifty rose by 94 points to 24299. With this the market cap of BSE is Rs. There has been an increase of Rs 4 lakh crore. That means on this day investors earned Rs 4 lakh crore in 1 hour.
Strength seen in these shares
When the market opened, shares of Mahindra & Mahindra, Tata Motors, NTPC, BEL and Eicher Motors saw gains on Nifty-50. These proved to be top gainers for the stock market in the initial phase. Talking about the shares of Adani Group, shares of Adani Power and Adani Energy were seen trading rapidly. At the same time, shares of Reliance Industries are also trading with a slight rise.
Why is Muhurta trading special?
Stockbrokers in India observe Diwali as the beginning of their financial year. Many investors consider buying stocks during this period as a way to invite prosperity for the coming year. It is time for traders to diversify their portfolio. Although largely symbolic, moment trading often involves active participation, with experienced investors using the opportunity to adjust their portfolios.
The stock market has given good returns in the last one year
In the last one year, when the Indian stock market was at its peak, NSE Nifty has given returns of up to 25 percent. Whereas the return of BSE Sensex has been around 23 percent. BSE Midcap and Smallcap indices in the country performed tremendously and gave returns of up to 47 percent.
History of this Muhurta trading till now
If we look at the history of the last 17 trading hours, the number of upswings in the market seems to be more than the number of downswings. BSE Sensex has closed with gains in 13 out of the last 17 trading sessions. BSE Sensex was the biggest gainer in 2008. Then the Sensex rose 5.86 percent to 9,008. However, equity indices performed well during these sessions.