Muhurat Trading 2022: Sensex jumped 647 points to open above 59,950 while Nifty has also gained 192.15 points to reach 17,768.45. L&T led the gainers’ pack, spurting 2.10 per cent, followed by ICICI Bank, Nestle India, HDFC, HDFC Bank, NTPC and PowerGrid.
Muhurat Trading 2022: Muhurat trading started off on a high note with Lakshmi puja to mark the beginning of Hindu Samvat year 2079 on Diwali. NSE Sensex jumped 647 points to open above 59,950 while BSE Nifty also gained 192.15 points to reach 17,768.45. All BSE sectoral indices were in the green, led by telecom, financial services, bankex, industrials and power.
Brokers said buying activity picked up pace as investors opened their books on the first session of Samvat 2079. Barring Hindustan Unilever, all Sensex stocks were trading in the positive zone.
L&T led the gainers’ pack, spurting 2.10 per cent, followed by ICICI Bank, Nestle India, HDFC, HDFC Bank, NTPC and PowerGrid. Meanwhile, foreign institutional investors (FIIs) net bought shares worth Rs 438.89 crore on Friday, while domestic institutional investors sold to the tune of Rs 119.08 crore, as per exchange data.
What is Muhurat Trading?
Muhurat trading is an auspicious session to mark the beginning of a new Samvat 2079 — the Hindu calendar year that starts on Diwali. Every year on Diwali evening, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) conduct a special one-hour trading session. It is believed that trading during the ‘muhurat’ or auspicious hour brings prosperity and financial growth to the stakeholders.
Significance of Muhurat trading
During the Muhurat trading session, investors and brokers buy value-based stocks, which are good for the long term. It is believed that during the particular Muhurat, planets are aligned in such a way that brings good fortune to investors throughout the Samvat. Stocks bought on this occasion are also kept as lucky charms by many investors.
Since Diwali is considered an auspicious day to begin anything new, investors also believe buying and passing shares to the next generation is auspicious.
Because of these developments, it is observed that markets typically move upward during the Muhurat trading session. The investor sentiment is positive with a majority of buying orders across segments.
Stock prices remain stable on this day as most investors prefer buying rather than selling. Investorstypically engage themselves in value investing during Muhurat trading.
The exchanges will remain closed on October 26, on the occasion of Diwali Balipratipada.
Source- INDIA TV NEWS
