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Written by 2:53 pm Manufacturing Sector News

Market kicks off Samvat 2081 with strong gains; Sensex adds 335 points, Nifty Bank and Midcaps rally

The Indian stock market began Samvat 2081 on a healthy note on Friday (November 1) during the special Muhurat trading session, with frontline indices posting up to 1% gains.

The BSE Sensex advanced by 335 points to close at 79,724, while the Nifty gained 94 points, ending at 24,300. Nifty Bank also saw a notable rise, climbing 197 points to 51,673, and the Midcap Index surged by 376 points, reaching 56,489.

Auto stocks performed well, primarily due to strong monthly sales figures. Mahindra & Mahindra (M&M) led the Nifty as the top gainer after reporting robust sales.

Also Read: Diwali Mahurat Trading: The two themes to watch out for, according to Ramesh Damani

Among major Sensex gainers, Mahindra & Mahindra rose the most by 3.29%. Adani Ports gained 1.26%, Tata Motors by 1.14%, and Axis Bank by 0.92%. Nestle, NTPC, Reliance, ITC Titan, Kotak Bank, Infosys and TCS also gained.

HCL Tech, Tech Mahindra, and ICICI Bank were the losers.

Midcap stocks were also in the spotlight, with NCC, RBL Bank, Vodafone Idea (Vi), PNB, NBCC, and Aarti Industries among the top performers in this segment. The overall market breadth showed solid momentum in favour of advances.

Meanwhile, global markets were mixed as European shares rose in early trade. Most Asian markets closed with losses. Japan’s benchmark Nikkei 225 dropped 2.6%, the Shanghai Composite slipped 0.2% and South Korea’s Kospi lost 0.5%. Hong Kong’s Hang Seng index added 0.9%.

Also Read: Nifty could reach 29,000-30,000 by next Diwali, predicts Atul Suri

Foreign institutional investors (FIIs) were net sellers in the Indian capital markets on Thursday (October 31), as they offloaded shares worth Rs 5,813.30 crore, according to exchange data.

On Thursday, BSE Sensex tumbled 553.12 points, or 0.69%, while NSE Nifty fell 135.50 points or 0.56%. In October, the BSE benchmark index fell sharply by 4,910.72 points or 5.82%, and the Nifty tumbled 1,605.5 points or 6.22%.

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