Muhurat Trading 2021: Sensex climbs 296 points, Nifty settles above 17,900 mark led by auto, banks, FMCG stocks

The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended nearly 0.5 per cent higher during the special Muhurat trading session on Thursday to mark the beginning of Samvat 2078. The gains were led by automobiles, banking and fast-moving consumer goods (FMCG) stocks.

The S&P BSE Sensex rose 295.70 points (0.49 per cent) to settle above the 60,000 level mark at 60,067.62 while the Nifty 50 climbed 87.60 points (0.49 per cent) to end above the 17,900 mark at 17,916.80.

Gains on the Sensex during the one-hour session were led by Mahindra & Mahindra (M&M), ITC, Bajaj Auto, Larsen & Toubro (L&T), Kotak Mahindra Bank and Sun Pharmaceutical Industries.

Among sectoral indices, the Nifty Auto index climbed 1.48 per cent driven by Eicher Motors, Tube Investments of India and M&M. Apart from this, the Nifty FMCG index rose 0.89 per cent led by Radico Khaitan and ITC. The key Bank NIfty too inched up 0.44 per cent aided by Punjab National Bank, IDFC First Bank and Kotak Mahindra Bank.

Muhurat trading time

The BSE and NSE conducted the Muhurat Trading session on the occasion of Diwali today (November 4, 2021) from 6:15 pm to 7:15 pm.

The one-hour special trading session is done to start the new Hindu accounting year – Samvat 2078. Muhurat trading is a symbolic trading session done by the stock exchanges every year on Diwali.

This year, the Muhurat trading session was scheduled between 6.15 pm and 7.15 pm on November 4, 2021. The pre-open session was held from 6 pm to 6:15 pm. The closing session was held between 7:25 pm and 7:35 pm.

Importance of Muhurat trading

This special trading session opens following the Hindu Panchang. This marks the beginning of a new Hindu calendar known as Samvat which begins on Diwali. Muhurat trading is considered to be very auspicious by Indian stock traders who believe that it brings wealth and prosperity throughout the year.