During the auspicious time of Diwali, the Indian market indices Sensex rose 562 points to 59,869.22 and Nifty 50 rose 157 points to 17,733.40 on Monday.
Some of the most active stocks on the BSE during the hour were Sasken which initially moved up around 15 per cent, Borosil Renewables gained around 5.23 per cent and Tejas Networks gained around 5.8 per cent. Marks the start of the special trading window. Samvat 2079. This is Hindu calendar starting from Diwali,
BSE Largecap was up 56.50 points and Nestle India, HDFC Bank, Berger Paint, Grasim were most active on the index. BSE Midcap was up 115 points and its most active stocks were IDBI, Federal Bank, JSW Energy and Natco Pharma. Nifty Next 50 closed 190 points higher at 41967.95. Tata Motors, ICICI Bank, Asian Paints, Axis Bank and Tata Steel were the most active stocks on Nifty. While Nifty Bank did well with a gain of 525 points.
The Muhurta was started by Bollywood actor Ajay Devgan. BSE Chief Financial Officer Nayan Mehta was also present at the function along with Girish Joshi, Head of Listing Business at BSE and Sameer Patil, Chief Trust Officer, BSE. The normal trading session of the Indian stock exchanges was closed for trading on Monday. Diwali. Normal business will start from tomorrow.
Indian stock exchanges are open for one hour which is called Muhurta trading. Trading took place in different sectors like Equity, Commodity Derivatives, Currency Derivatives, Equity Futures & Options, and Securities Lending and Borrowing (SLB) in the same time slot. It is believed that this auspicious occasion of Muhurta trading will bring more wealth and prosperity.
During this one hour period, investors place orders for stocks as per their wish, which they consider auspicious and bring good returns. Stock brokers perform Lakshmi Puja in the exchange and then Muhurta trading takes place. It is believed that Goddess Lakshmi visits and resides at the place of worship, so merchants and shopkeepers are kept awake with all the decorative lights.
The Sensex rose 661.70 points to 59,952.11 in the first minutes of the session, while the Nifty 50 rose 185.65 points to 17,761.95.