Benchmark stock indices Sensex and Nifty closed higher by more than half a percent in the special Mahurat trading session on Sunday driven by buying across investors.
The 30-share BSE Sensex gained 354.77 points or 0.55 percent to close at 65,259.45, with 28 of its components falling in the green in the first trading session of Samvat 2080.
The broader Nifty50 of the National Stock Exchange rose 100.20 points or 0.52 percent to settle at 19,525.55 led by gains in IT, infra and energy stocks. As many as 43 Nifty50 stocks ended in the green, while seven in the red.
Muhurat trading is a symbolic one-hour trading session conducted by Indian stock exchanges on Diwali, a Hindu festival considered auspicious for new beginnings, including investments.
Buyers flooded Dalal Street on the special occasion of Diwali and drove the benchmark indices higher despite the lower volume, marking a strong start to the Samvat year 2080.
Investors’ wealth increased by over Rs 2 lakh crore, which is reflected in the total market capitalization of BSE-listed companies.
During the Samvat year 2079 ended Friday, the BSE Sensex jumped 5,073.02 points or 8.47 percent while the Nifty climbed 1,694.6 points or 9.55 percent.
Among the Sensex stocks, Infosys rose the most by 1.41 percent, followed by Wipro (0.88 percent), Asian Paints (0.78 percent) and TCS (0.77 percent).
HDFC Bank, ICICI Bank, Reliance Industries, ITC, Kotak Bank, Asian Paints, NTPC and Titan were among the leading gainers.
Ultratech Cement and Sun Pharma were the only losers among Sensex companies.
Broader markets also advanced, with the BSE MidCap up 0.67 percent and the BSE SmallCap up 1.14 percent.
All sector indices closed with gains.
Selling by foreign portfolio investors (FPIs) continued as they dumped over Rs 5,800 crore worth of Indian stocks this month so far on rising interest rates and geopolitical tensions in the Middle East.
(With the exception of the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)