Diwali Muhurat Trading 2023 brought a wave of positivity to the Indian stock market, as the special one-hour trading session witnessed robust gains. The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) both registered substantial upticks, closing with benchmark indices, S&P BSE Sensex and NSE Nifty 50, up by nearly 0.55 percent.

Muhurat Trading Session: The Diwali Muhurat trading session commenced at 6:00 PM and concluded at 7:15 PM, providing a glimpse of what’s in store for Samvat 2080. Market participants engaged in various segments, including equities, commodity derivatives, currency derivatives, equity futures and options, and securities lending and borrowing (SLB).

Market Performance: As the Muhurat trading session came to a close, the S&P BSE Sensex notched up impressive gains, surging by 354.77 points to settle at 65,259.45. Simultaneously, the NSE Nifty 50 gained 100.20 points, closing above the coveted 19,500 mark at 19,525.55. The Bank Nifty index also displayed strength, closing 0.40 percent higher at Rs 43,996.55. Furthermore, the Nifty Small-cap Index celebrated a significant milestone by reaching a new 52-week high. Midcap and Smallcap stocks primarily fueled the broader indices, with Metal and IT sectors leading the charge. Notable gainers included Coal India, UPL, Infosys, Eicher Motors, and Wipro, while Britannia Industries, Sun Pharma, Apollo Hospitals, Bajaj Finserv, and LTI Mindtree faced some setbacks.

Diwali Muhurat Trading Traditions: Diwali, the festival of lights, not only signifies the victory of light over darkness but also holds a special place in the hearts of traders and investors in India. The Muhurat trading session on this auspicious day is a time-honored tradition that sets the tone for the year ahead in the financial markets. It is believed that trading during this sacred hour brings prosperity and wealth.

Current Year’s Optimism: The positive sentiment prevailing during this year’s Diwali Muhurat Trading is attributed to several factors. These include the Federal Reserve’s efforts to ensure a “soft landing,” robust GST numbers, active retail participation, easing tensions in the Middle East, and declining WTI oil prices. Prashanth Tapse, Senior Vice President at Mehta Equities Ltd., expressed optimism about the horizon of Samvat 2080, suggesting that investors accumulate value picks with strong fundamentals for potential growth.

The Diwali Muhurat Trading session of 2023 has set a promising tone for Samvat 2080, bringing hope and prosperity to the Indian stock market. As we bid farewell to Samvat 2079, the market’s bullish outlook is fueled by a combination of global and domestic factors. This auspicious session marks not only the beginning of a new Hindu calendar year but also a fresh start for investors and traders alike.