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MUHURAT TRADING WRAP: Sensex up 246 points; best Muhurat-day gain in 10 yrs

SI Reporter/New Delhi 07 Nov 18 | 04:00 PM

The BSE lit up for Diwali in Mumbai on Tuesday. The markets will open for muharat trading on Wednesday Photo: Kamlesh D Pednekar

The benchmark indices rallied to their best Muhurat trade session gains in 10 years, settling over 0.5 per cent higher in the Muhurat session of Samvat 2075 led by a rise in automobile stocks and information technology (IT) stocks. The S&P BSE Sensex had gained 5.86 per cent in Muhurat trades on October 28, 2008 (Samvat 2065).

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The S&P BSE Sensex ended at 35,238, up 246 points (0.70 per cent) and the Nifty 50 index rose 68 points (0.65 per cent) to settle at 10,598 levels. 

Among individual stocks, Mahindra & Mahindra (M&M) rose over 2 per cent to Rs 795 on the BSE, while Tata Motors gained 1 per cent to Rs 195. Infosys rose 1.5 per cent to Rs 677.

Diwali Samvat 2075 logo

GLOBAL MARKETS

Wall Street stock futures and Asian shares held earlier gains on Wednesday after Democrats won control of the US House of Representatives, boosting the party's ability to block President Donald Trump's political and economic agenda.

The Democrats' House win creates a clear hurdle for Republicans to easily pass legislation through both chambers of Congress, clouding the outlook for some of Trump's key economic proposals.

While both outcomes were broadly in line with market expectations, a reason markets did not sell off, the prospect of political gridlock creates some uncertainty for investors. The dollar weakened against most of its major counterparts.

In equities markets, US S&P500 futures rose 0.3 per cent, MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent and Japan's Nikkei gained 1.2 per cent.

OIL PRICES

Oil prices were soft after a 2 per cent fall the previous day, with US crude futures hitting an eight-month low as Washington granted sanction waivers to top buyers of Iranian oil and as Iran said it has so far been able to sell as much oil as it needs to.

US West Texas Intermediate (WTI) crude futures traded 0.5 per cent lower at $61.91 a barrel having hit a low of $61.31 on Tuesday, the weakest price since March 16.

(with Reuters inputs)

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Sensex

Company Price Gain (%)
Bharti Airtel333.609.81
Reliance Inds.1,127.502.79
H D F C1,887.551.91
St Bk of India290.301.75
Hero Motocorp2,954.551.28

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