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Mahurat Trading : Diwali 2021



One Hour Diwali Muharat (Samvat 2078) seems to have worked in favour of the Indian Market. Positive Global outlook and cut in excise duty on petrol and diesel encouraged the sentiments of Indians. Sensex which was on a downward curve, climed up 295.70 points / 0.49% and closed at 60,067. NSE also increased by 87.60 points /0.49% and finished at 17,916.80.


Sensex's gains were basically from M&M, ITC, Bajaj Auto, L&T, Kotak bank, Sun Pharma and Nestle India rising almost 2.87%. on the opposite site, ICICI Bank, Ultratech Cement, Asian Paints and Dr. Reddy  lost 0.43%. Except Metal Industry, most of the BSE sectors finished on positive note, which were auto, consumer goods, capital goods, Industrial goods, FMCG. Similar trend was followed in broader market, where small cap BSE rose 1.36% and mid cap rose 0.73%.




NSE AND BSE WILL BE CLOSED ON FRIDAY i.e. NOVEMBER 5th on the occassion of Diwali Balipratipada.


According to Samvat 2077,  Nifty's Mid Cap delivered 40% Return and Small Cap delivered even stronger returns.


Dhiraj Relli, MD & CEO, HDFC Securities, said: "After a great year for equity markets, investors are looking forward to markets continue rising though not at the same pace. Global headwinds in the form of rising inflation and withdrawal of monetary stimulus may impact the momentum, but strength in Indian macros and improving micros may help offset these. Investors need to conduct portfolio review, asset allocation review, and raise the quality of stocks held in their portfolio."


Global stocks markets were mostly higher today, a day after the Federal Reserve said it would this month start tapering its pandemic support programme. 


As widely expected, the Fed on Wednesday said it would start reducing the monthly pace of quantitative easing (QE) stimulus purchases by $10 billion for Treasuries and $5 billion for mortgage-backed securities. But the central bank said the announcement fuelled another record rally on Wall Street, and gains across Asia.

“After the spectacular returns in Samvat 2077, investors should expect modest returns only, say in low teens, in Samvat 2078. This Samvat is likely to be very volatile, unlike last Samvat. Rising inflation would be the biggest known threat to the market. Rate hikes by the Fed can happen by the end of 2022 or, perhaps, earlier than that if persistent inflation and the bond market forces the Fed's hands. Rate hikes by the Fed will lead to some capital flight from emerging markets like India and this is likely to trigger some sharp correction in the market. But the correction may turn out to be low and short-lived if the economy rebounds smartly," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.


(Source: Mint)


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