Diwali Muhurta Trading 2022: The domestic stock market opened with strong gains in the special Muhurta trading session on Monday, which is also the beginning of the Hindu Samvat year 2079. On Monday, the BSE Sensex closed 524.51 points or 0.88 per cent higher at 59,831.66; While NSE nifty The day ended with a jump of 154.45 points, or 0.88 per cent, at 17,730.75.
During the one-hour special Muhurta trading session 2022, the Sensex saw a fluctuation of about 217.59 points, in which the session’s low was 59,776.66 points and its high was 59,994.25 points. On Monday, the Sensex ended the session at 59,831.66 with a gain of 534.51 points. NSE Nifty touched a high of 17,778 and ended the session with a gain of 154.45 points at 17,730.75.
Barring Hindustan Unilever and Kotak Mahindra Bank, all Sensex stocks closed in the positive zone. to shelter India The gainers pack rose by 2.92 per cent, followed by ICICI Bank, Larsen & Toubro, SBI, HDFC, HDFC Bank, Dr Reddy’s and Infosys.
Global stocks were largely in positive territory after strong gains on Wall Street on Friday. Elsewhere in Asia, markets in Tokyo and Seoul closed in the green, while Shanghai and Hong Kong fell as much as 6.36 percent, posting their worst day in more than a decade. European shares were trading in positive territory in the afternoon session.
Barring FMCG, all BSE sectoral indices ended higher led by Capital Goods, Industrials, Financial Services and Telecom. A similar trend was seen in the broader markets, with the BSE small-cap index rising 0.99 per cent and the mid-cap gauge 0.50 per cent.
Muhurta trading, which took place between 6:15 pm and 7:15 pm, is a one-hour special trading session organized by exchanges on the occasion of Diwali.
“Even though Samvat 2078 ended with marginally negative returns, the most striking feature of the past year was India’s outstanding performance. While MSCI World The index and the MSCI Emerging Markets index fell 23 per cent and 33 per cent, respectively, with the Nifty outperforming with only a marginal cut of 3 per cent. “This outperformance in a year of war in Europe and rising inflation and interest rates in the developed world reflects India’s resilience to rising inflation and interest rates,” said VK Vijayakumar, chief investment strategist, Geojit Financial Services.
The Sensex rose 570.49 points to 59,877.64 in the pre-open market deal that opened at 6:00 pm.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, “Even though Samvat 2078 ended with marginally negative returns, the biggest highlight of the past year was India’s distinctive outperformance. While the MSCI World Index and MSCI Emerging Markets Index declined 23 per cent and 33 per cent, respectively, the Nifty outperformed with only a marginal cut of 3 per cent.
He said this better performance in a year of war in Europe and rising inflation and interest rates in developed countries reflects India’s growing resilience. “From a market perspective, two factors stand out: One, India’s economic fundamentals are relatively strong. Two, DIIs and retail investors have become a force to be reckoned with with a huge jump in FII sales. This trend can be expected to continue.”
Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 438.89 crore on Friday, while domestic institutional investors sold Rs 119.08 crore, according to exchange data.
Last week, the Sensex had gained 1,387.18 points, or 2.39 per cent. On Friday, it closed at 59,307, up 104 points or 0.18 per cent from the previous close.
ICICI Bank has posted a standalone net profit of Rs 7,557.8 crore for the September 2022 quarter (Q2FY23), a jump of 37 per cent year-on-year (YoY) as compared to Rs 5,511 crore a year ago. The private sector lender’s net interest income (NII) during July-September 2022 grew by 26 per cent to Rs 14,786.8 crore as against Rs 11,690 crore a year ago.
Kotak Mahindra Bank has reported a growth of nearly 27 per cent in net profit to Rs 2,581 crore for the quarter ended September 2022. The private sector lender had posted a net profit of Rs 2,032 crore in the same quarter of the previous fiscal. Total income rose to Rs 10,047 crore during the July-September period of 2022-23 from Rs 8,408 crore in the year-ago quarter.
read all latest business news Here