Indian stock benchmarks rose sharply at the start of Muhurat trading hour on Monday as part of the hour-long window on Diwali, with investors placing bets on the exchange systems available between 6:15 pm and 7:15 pm following their predictions of what the stock would be like. profitable and beneficial.
In the first session of the Samvat year 2079, according to the Hindu calendar, the 30-share BSE Sensex index rose 635.12 points to 59,942.27, and the broader NSE Nifty-50 index rose nearly 200 points to rise above 17,750. to be traded.
Including telecom, financial services, banking, industry and energy, all sectoral BSE indices rose.
Brokers reported that once investors opened their accounts for the first session of Samvat 2079, buying activity increased.
All Sensex shares, with the exception of Hindustan Unilever, were in the green.
With an increase of 2.10 percent, L&T led the group of winners, followed by ICICI Bank, Nestle India, HDFC, HDFC Bank, NTPC and PowerGrid.
Both stock benchmarks rose on Friday to extend earnings for the sixth straight session, braving the sell-off of broader global risk assets.
Due to Diwali, Indian stock markets were closed on Monday and normal trading began on Tuesday.
On Monday, global equities extended the rally that started late Friday in New York, largely on the back of news that the Federal Reserve is considering slowing its rate of appreciation and possibly stepping back at its November meeting.
Fed officials, including Mary Daly of the San Francisco Fed and James Bullard of the St. Louis Fed, said any policy discussion at the November meeting would focus on the extent of tightening.
“What this means for the markets is that rates and currency markets may now become more sensitive to incoming economic data and some evidence of stress in the financial markets,” MUFG head of research Derek Halpenny told Reuters.
The STOXX 600 rose on the day as European indices advanced on a week dominated by gains. Emerging market equities fell, mainly due to a significant sell-off in China.
Chinese blue chips were down about 3 percent. By comparison, Hong Kong’s shares fell 6.4 percent, marking the biggest one-day drop since the financial crisis, after Xi Jinping was elected for a record-breaking third term as president and elected a top governing body brimming with supporters.