Indian equity benchmarks began Samvat 2078 on a positive note in a special Muhurat trading session on Thursday, November 4. Gains across sectors, led by buying interest in financial, oil & gas and automobile shares, pushed the headline indices higher. The strong start to the New Year came after the Nifty50 finished Samvat 2077 with a gain of 40 percent.
Both indices held on to most of their initial gains throughout the Muhurat session, ending half a percent higher. The Sensex ended up 295.7 points at 60,067.6 and the broader Nifty50 benchmark settled at 17,916.8, up 87.6 points from its previous close.
As many as 39 stocks in the 50-strong Nifty pack closed with gains. Among the top gainers were Eicher Motors, Mahindra & Mahindra, ITC, Indian Oil, Bajaj Auto, Hero MotoCorp, Divi's Labs and Bharat Petroleum, ending between 1.3 percent and 5.9 percent higher.
On the other hand, Hindalco, ICICI Bank, Asian Paints, UPL, JSW Steel, Cipla, Dr Reddy's and UltraTech, down between 0.1 percent and 1.4 percent for the day, were among the top laggards.
Eicher Motors shares jumped to a two-week peak after the auto major reported an 8.7 percent year-on-year rise in its profit for the quarter ended September.
Equities in the broader segments were in high demand, with the midcap and smallcap indices rising around one percent each.
Indian Hotels, Indian Bank, Union Bank, Happiest Minds and CDSL -- rising 4.4-6 percent each -- were among the top gainers in the midcap and smallcap indices.
On the other hand, GSPL, Adani Total, Oberoi, Laxmi Organic and Quess Corp -- down between 0.6 percent and 2.5 percent -- were among the losers.
In Samvat 2077, the 30-scrip index gained 16,328.9 points, a return of 37.6 percent, and the broader Nifty50 added 5,109.3 points (40.2 percent).
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Meanwhile, Wall Street was mixed in early deals on Thursday. Technology stocks rose but investors remained on the back foot ahead of more corporate earnings. European shares rose for a fifth straight session, with the Stoxx 600 index up 0.3 percent at the last count.
The Federal Reserve Bank and the European Central Bank signalled they were in no rush to hike interest rates. The US central bank, however, said it would begin scaling back its pandemic-era monthly bond buys in November with plans to end them next year.
(Edited by : Sandeep Singh)
First Published: Nov 4, 2021 7:34 PM IST
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