Diwali Muhurat Trading 2021 Highlights: Sensex ends 296 points higher, Nifty50 reclaims 17,900 as market begins Samvat 2078 stronger

Thank you, readers! That's all from CNBC-TV18.com's live market coverage of the special Muhurat trading session on November 4. Wish you a happy Diwali, and a prosperous Samvat 2078 ahead.  

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Don't think 19,200 will be long-term top of this market: Sushil Kedia

Sushil Kedia, Founder of Kedianomics, believes there is so much more to the current market. He doesn't think that 19,200 on the Nifty50 index will be the long-term top of this market.

"Nifty is going to 19,200 and your portfolio going up by 30 percent  are two different things. So very selective stock picking for this winter into November in December... As of now, all I can guess although no one knows the future completely. At best I can conjecture some few things with a stop loss; maybe we go to 19 200 subject to Monday's closing above 18,000. And then we will come back to maybe 16,700," he said. 

Muhurat Trading | BSE CEO's advice to new-generation investors: Study a lot, invest with own conviction, avoid too much trading

Ashish Kumar Chauhan, MD and CEO of stock exchange BSE, has an advice for investors: The time is to be cautious. "When you go to buy a stock, study a lot, and listen to everyone but since it is your money, invest with your own conviction, and buying in the morning and selling in the evening is not considered investment. Try to be there for 3-5 years. Once you have convinced yourself for a particular stock, don't try to do too much of trading because you may end up losing money," he said. 

"We have got almost literally 100 percent new investor accounts over the last 18 months, which is a great thing. But the new investors, even old investors, when they start making money, then they start becoming more adventurous. So I think the time is to be cautious and also ensure that it is your own money... Don't indulge in derivatives trading if you don't understand what derivatives are, no matter what people tell you. So those are some of the things which we need to basically keep in mind as new investors... that even old investors also need to keep in mind, given the euphoria," he added. 

Mahurat Trading | Atul Suri positive on PSU banking, real estate, metal spaces

Market veteran Atul Suri believes the market is heading into a healthy phase of consolidation. The market tends to consolidate after spring action, which comes whenever it has a crash, he said. Suri also said the market consolidates for some time after a big rally. 

He likes PSU banking, real estate and metal spaces. He likes SBI from the state-run banking pack, and believes IT to be an evergreen sector. 

Market At Close | Sensex, Nifty50 welcome New Year with shade of green
 
Here are some highlights:

--Nifty Bank up 171 points; HDFC Bank top contributor

--All sectoral indices end higher; Nifty Media, Nifty Auto top gainers

--Auto stocks lead pack; 3 out of 6 top gainers auto companies

--Eicher Motors surges 6% after auto major posts Q2 results; ends at 2-week high

--Hindalco, ICICI Bank, Asian Paints top Nifty losers 

--Market breadth in favour of bulls, advance-decline ratio at 7:1

Tailwind for real estate, prices have not moved for 5-6 years: Sunil Singhania

Sunil Singhania of Abakkus Asset Management is positive on the real estate sector. "There is obviously a tailwind as far as real estate is concerned; for 5-6 years, the prices have not gone anywhere. There is consolidation in the industry; the industry has turned out to be much cleaner with government regulations and you also have an element of very low interest rates... the mortgage rates have never been so low in India, and that makes buying the house almost 20-25 percent cheaper. Then you had various state governments give you some respite in terms of stamp duty and so forth," he said. 

"On the residential side, there is definitely a tailwind, which will last. We unfortunately have not been a major investor on the real estate space, we are playing it more through the ancillary segment -- building material etc," he said. 

Mahurat Trading | Investment in Nazara Tech worked out well, says Madhu Kela 

Madhusudan Kela said he doesn't understand many of the new age companies, which keeps him away from the space. The market veteran said he invested in 
Nazara Technologies, and that "worked out well".

Mahurat Trading | Madhu Kela sees value in PSU banking stocks

Veteran fund manager Madhusudan Kela said in an interview to CNBC-TV18 that he sees value in PSU banking stocks, and believes there is still room for gains selectively in the realty space. 

Market At Close | HDFC Bank, Reliance Industries, ITC, Kotak Mahindra Bank biggest Sensex movers

Mahindra & Mahindra, ITC, Bajaj Auto, Larsen & Toubro, Kotak Mahindra Bank and Sun Pharma were the top gainers in the 30-strong pack.

Market At Close | HDFC Bank, Reliance Industries, ITC, Kotak Mahindra Bank biggest Sensex movers

Mahindra & Mahindra, ITC, Bajaj Auto, Larsen & Toubro, Kotak Mahindra Bank and Sun Pharma were the top gainers in the 30-strong pack. Gains across sectors, led by strong buying interest in financial, oil & gas and automobile shares, pushed the headline indices higher. (Read more on how the Muhurat trading session ended)

Market At Close | Eicher Motors, Tata Motors, SBI, Indian Oil top gainers

Nearly all of the 50 Nifty constituents ended the Muhurat trading session higher. Among the top gainers were Eicher Motors, Tata Motors, SBI, Indian Oil, UPL, Hero MotoCorp, IndusInd Bank, Bajaj Auto and BPCL, ending between one percent and 2.7 percent higher. 

Closing Bell | Sensex rises 307 points, Nifty50 crosses 17,900

Both headline indices ended the special Muhurat session 0.5 percent higher. The Sensex rose 306.7 points to close at 60,078.66 and the broader Nifty50 benchmark closed at 17,916.8, up 87.6 points from its previous close. 

Eicher Motors shares rise 6% after Q2 earnings

Eicher Motors shares rose six percent to Rs 2,673 apiece on BSE, after the auto major reported its earnings for the quarter ended September. 

After market hours on Wednesday, the company reported a net profit of Rs 373.2 crore for the July-September period, up 8.7 percent on a year-on-year basis. Its quarterly revenue from operations came in at Rs 2,249.6 crore, as against Rs 2,133.6 crore in the corresponding period a year ago. 

Muhurat Trading | Sunil Singhania's advice for first-time investors: Don't get carried away

Abakkus Asset Management's Sunil Singhania told CNBC-TV18 that in every market, there are excesses being made, and clearly, there are pockets with excesses, like the IPO market and then the momentum plays. "I hope the investors, particularly the retail investors who have had a great experience of the first time of their trade in the market, don't get carried away. We saw how the Squid Bitcoin has collapsed to almost zero, and there are stories of how people have lost money," he said. 

Muhurat Trading | Have reasonable return expectations and have a happy Diwali every year, says Sunil Singhania

Sunil Singhania, Founder of Abakkus Asset Management, continues to be "very positive" on the Indian market from a decade's perspective. "The returns which were made last year are unreal, and cannot be duplicated. So have reasonable return expectations and you will have a happy Diwali every year," he said. 

"This has been a very unique year and one thing that actually gladdens my heart is that for once, Indian retail investors have benefited out of this market. Otherwise, we were all only seeing the markets move up and down and all the foreign institutional investors are coming in making money. To that extent, it is very heartening," he said.