Mumbai, November 1 (IANS). A strong rise was seen on Friday during Muhurat trading, the special trading session of the stock market on the day of Diwali. There was widespread purchasing in the market. Almost all the indices closed in the green.
At the end of trading, Sensex was up 335 points or 0.42 per cent at 79,724 and Nifty was at 24,304, up 99 points or 0.41 per cent.
The market was led by small and medium stocks. The Nifty Midcap 100 index was up 383 points or 0.68 per cent at 56,496 and the Nifty Smallcap 100 index was at 18,794, up 192 points or 1.03 per cent.
The broader market sentiment was also positive during Muhurat trading. On the Bombay Stock Exchange (BSE), 3,017 shares closed in the green, 558 shares in the red and 73 shares closed without any change.
25 out of 30 stocks in the Sensex pack closed in the green.
Mahindra & Mahindra, Tata Motors, Axis Bank, Kotak Mahindra Bank, Nestle, NTPC, Tata Steel, IndusInd Bank, Titan, UltraTech Cement, Sun Pharma, ITC, Bajaj Finance, TCS, Maruti Suzuki and JSW Steel were the top gainers. HCL Tech, Tech Mahindra, Wipro, ICICI Bank and Asian Paints were the top losers.
Except IT, almost all the indices closed in the green. Auto, PSU Bank, Power, Realty, Fin Services, Pharma and FMCG were the biggest gainers.
Aditya Agarwal, head of derivatives and technical analysis at Sanctum Wealth, said that from a medium to long term perspective, we remain bullish on Indian markets and expect the indices to deliver double digit returns over a 12-month period. However, markets will remain volatile in the short term and may see a decline of 4-5 percent. Currently, we prefer large-cap stocks over mid- and small-caps and we expect large-caps to outperform over the next 12 months.
The session started with a bang. As of 6:05 pm, Nifty was trading 0.56 per cent higher at 24,341 and Sensex was trading 0.57 per cent higher at 79,849.
–IANS
ABS/ABM