Sensex, Nifty soar to lifetime highs as Samvat 2077 gets off to bright start
Mumbai: Domestic equity benchmarks surged to lifetime highs on Saturday as investors built up fresh positions in the special Muhurat trading session to mark the beginning of Hindu Samvat year 2077.
The 30-share BSE Sensex soared 194.98 points or 0.45 percent to close at a record 43,637.98. Intra-day, it hit its all-time high of 43,830.93.
On similar lines, the broader NSE Nifty advanced 60.30 points, or 0.47 percent, to finish at its lifetime high of 12,780.25. It touched an intra-day record of 12,828.70 during the session.
In the Sensex kitty, prominent gainers were Bharti Airtel, Tata Steel, Sun Pharma, Bajaj Finserv, ITC, Infosys, HDFC Bank, and ONGC, spurting up to 1.17 percent.
Only four constituents closed in the red -- PowerGrid, Titan, UltraTech Cement, and Bajaj Finance, which shed up to 0.32 percent.
Brokers said buying activity gathered momentum as investors opened their new books on the first session of Samvat 2077.
All BSE sectoral indices finished in the green, led by oil and gas, telecom, industrials, realty, tech, and energy.
A similar trend was seen in the broader markets, with the BSE small-cap index jumping 0.84 percent and the mid-cap gauge gaining 0.62 percent.
Domestic markets conduct a special one-hour Muhurat trading session on Diwali every year to mark the beginning of the traditional Hindu calendar year, called 'Vikram Samvat'.
In the previous Samvat 2076, the BSE Sensex gained 4,384.94 points or 11.22 percent, while the Nifty rallied 1,136.05 points or 9.80 percent.
The BSE and NSE will remain closed on Monday (November 16) on the occasion of 'Diwali Balipratipada'.
Meanwhile, foreign institutional investors (FIIs) net bought shares worth Rs 1,935.92 crore on Friday, while domestic institutional investors sold to the tune of Rs 2,462.42 crore, as per provisional exchange data.
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India moving towards becoming global economic powerhouse: Kovind
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Amritsar (PTI): Former president Ram Nath Kovind on Friday said that with digital transformation, economic reforms and a strong focus on the ease of doing business, India is moving towards becoming a global economic powerhouse.
He was speaking after inaugurating the 19th edition of the Punjab International Trade Expo (PITEX) in Amritsar.
The former president said that this 19th edition of PITEX is being organised at a time when India is recognised as one of the fastest-growing large economies in the world.
Speaking at the inaugural ceremony of the event organised by the PHD Chamber of Commerce and Industry (PHDCCI) the former president, while referring to Punjab, said the state is a living example of courage, sacrifice and enterprise.
"The spiritual light of Sri Harmandir Sahib (Golden Temple) inspires peace and humanity across the world. The heritage of Punjab is deep and inspiring," Kovind said, according to a statement issued by the PITEX.
The former president congratulated the PHDCCI for hosting the 19th edition of PITEX and suggested that the chamber should expand PITEX outside Punjab.
He proposed that a similar event should also be held in New Delhi.
