Mumbai: Indices of the Indian markets during the auspicious hour of the Muhurat trading on Diwali went up as Sensex surged 562 points to 59,869.22 and Nifty50 rose 157 points to 17,733.40 level on Monday.
Some of the most active stocks during the hour on BSE were Sasken which moved up about 15 percent in the beginning, Borosil Renewables which surged about 5.23 percent and Tejas Networks which rose about 5.8 percent.
The special trading window marks the beginning of Samvat 2079. It is the Hindu calendar that starts on Diwali.
BSE LargeCap was up 56.50 points and Nestle India, HDFC Bank, Berger Paint, Grasim were the most active on the index. BSE MidCap was 115 points and its most active stocks were IDBI, Federal Bank, JSW Energy and Natco Pharma.
The Nifty Next 50 closed 190 points up at 41967.95. Tata Motors, ICICI Bank, Asian Paints, Axis Bank and Tata Steel were the most active stocks on Nifty. While Nifty Bank performed nicely with 525 points up.
Bollywood Actor Ajay Devgn rang the opening bell of the Muhurat hour. BSE Chief Financial Officer Nayan Mehta was also present in the ceremony along with Girish Joshi, head for listing business at BSE and BSE Chief Belief Officer Sameer Patil.
The usual trading session of the Indian stock exchanges were closed on Monday for trading on the occasion of Diwali. Normal trading will resume tomorrow.
The Indian stock exchanges open for an hour in what is called as Muhurat trading. Trading took place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot. It is believed that this auspicious occasion of Mahurat Trading will bring more wealth and prosperity.
During this one-hour window, investors place orders for stocks according to their wishes which they believe to be auspicious and bring in good returns.
Stock brokers perform Lakshmi Puja at the exchange and then the Muhurat trading takes place. It is believed that Goddess Lakshmi comes and resides at the place of puja which is why traders and shopkeepers stay awake with all decorative lights.
In the first minutes of the session, Sensex went up 661.70 points to 59,952.11 levels, while Nifty50 went up 185.65 points to 17,761.95.
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