Samvat 2081 has started on a positive note for investors and traders as indices climbed around 0.40% during the Diwali Muhurat Trading 2024 held on November 1, 2024, from 06:00 PM to 07:00 PM. This comes as excellent news for traders after the small market crash experienced in October 2024 due to heavy Foreign Institutional Investor (FII) selling.
FIIs sold over 98,000 crores in October 2024, dragging the market down by close to 8%. However, at the start of the Hindu New Year Samvat 2081, investors have shown confidence in the market. All the indices closed the one-hour Muhurat Trading session on a positive note. The Sensex climbed by 335 points to 79,724 (+0.42%), while the Nifty 50 saw a growth of 99 points and closed at 24,304 (+0.41%). The Bank Nifty also grew by 0.39% by adding 198.5 points to reach 51,673.
A large number of stocks closed Muhurat Trading 2024 in green. Out of the 3,648 stocks listed on the Bombay Stock Exchange (BSE), 3,017 closed in green, and only 558 declined. This helped the Nifty Smallcap and Nifty Midcap indices rise exponentially. The Nifty Midcap 100 indices rose by 0.69%, and the Nifty Smallcap index grew by 1.16%.
The top-performing sectors for Muhurat Trading 2024 were:
- Banking
- Auto
- Oil & Gas
Mahindra & Mahindra, Adani Ports, Tata Motors, and Axis Bank were some of the top performers. On the contrary, HCL Tech and Tech Mahindra were among the stocks that registered losses.
Muhurat Trading sessions have traditionally shown growth. The 2024 session marked the eighth consecutive growth year. One of the biggest reasons behind this continuous growth during Muhurat Trading is the interest of investors. Many investors and stock market traders believe that gaining even a small amount of profit during this hour is a good sign, as it marks the start of a new year. Therefore, many retail investors and operators prefer to put their idle money in the market, which influences the growth during this one-hour Muhurat Trading session.
