India’s benchmark stock indices ended the Diwali special one-hour Muhurat trading session on a higher note, led by gains in I.T. and metal stocks.
The S&P BSE Sensex Index ended above the 65,200 mark, whereas the NSE Nifty 50 scaled 19,500 during the trading session. Both indices ended at their highest levels since Oct. 20.
The S&P BSE Sensex closed 355 points, or 0.55%, higher at 65,259.45, while the NSE Nifty 50 gained 100 points, or 0.52%, to end at 19,525.55.
“As we bid farewell to Samvat 2079, the horizon of Samvat 2080 looks promising,” said Prashanth Tapse, senior vice president at Mehta Equities Ltd. “We recommend accumulating value picks with strong fundamentals for potential growth.”
The market’s optimism is fueled by factors such as the Federal Reserve’s efforts for a “soft landing”, robust GST numbers, active retail participation, easing Middle East conflict, and declining oil prices, he said.
The special session that ended on Sunday also marked the beginning of a new Samvat 2080—the Hindu calendar year that starts on Diwali.