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Muhurat trading 2023: shares may rise at opening bell

Published on Nov 12, 2023 17:43

The BSE and NSE will hold a one-hour special Muhurat trading session today to commemorate the commencement of Samvat 2080. This unique trading session will take place from 6:15 pm to 7:15 pm.

Global Markets:

US stocks rallied on Friday as Treasury yields stabilized. The Dow Jones Industrial Average surged by 391.16 points (1.15%) to close at 34,283.10, while the S&P 500 rose by 1.56% to finish at 4,415.24. The Nasdaq Composite also saw significant gains, increasing by 2.05% to reach 13,798.11, marking its best day since May. All 11 sectors of the S&P 500 showed positive performance, with the tech sector standing out by rising 2.6%. The market`s upward movement was supported by continued high levels of unfilled job openings and strong private sector balance sheets, indicating the likelihood of a gradual economic slowdown in the future, with incremental improvements in inflation expected.

Domestic Equity Market:

The stock market witnessed a turnaround on Friday, with the main indices making slight gains after a day of trading in the red. The Nifty settled above the 19,400 level after hitting the day�s low of 19,329.45 in morning trade. The recovery was primarily fueled by strength in banking, financials, and oil & gas stocks. The market exuded resilience, fueled by expectations of manageable October retail inflation in India and prospects for an upward revision in Q1FY24 GDP growth. Additionally, robust mutual fund flows and the celebratory spirit of Diwali further buoyed the positive sentiment. The barometer index, the S&P BSE Sensex advanced 72.48 points or 0.11% to 64,904.68. The Nifty 50 index added 30.05 points or 0.15% to 19,425.35.

Foreign portfolio investors (FPIs) sold shares worth Rs 261.81 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 822.64 crore in the Indian equity market on 10 November 2023, provisional data showed.

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