Both Sensex and Nifty, along with midcap and smallcap indices, clocked fresh highs today as investors celebrated BJP’s big gains in MP, Rajasthan and Chhattisgarh.
The first trading day of December month started on a strong note, with the Sensex and Nifty rising nearly 0.8% to touch their fresh lifetime highs.
The prediction assumes continuity in a government with a majority mandate.
In the one-hour Diwali Muhurat Trading 2023, the BSE Sensex gained as much as 514 points to 65,419 levels, and the NSE Nifty climbed 122 points to touch 19,547 mark.
Investors lost nearly ₹3.5 lakh cr in intraday trade on Thursday as BSE Sensex tumbled as much as 929 points
Post listing, the shares of the ports arm of Sajjan Jindal-led JSW Group gained 28.4% to hit a high of ₹152.8 on the BSE and NSE, while the m-cap rose to ₹31,920 crore.
Nifty is on track to hit 20,432 this month and 21,000 by Diwali, says Rahul Sharma of JM Financial Services.
Jio Financial Services, Reliance Industries, Power Grid, JSW Steel, Larsen & Toubro, and ONGC contributed the most to the losses in Sensex.
The impact on the Indian stock markets could likely to be negative but not large since the U.S. economy is now headed for a soft landing and not a recession, says expert
The sell-off in the equity market was triggered by weakness in index heavyweights such as Infosys, TCS, HCL Technologies, RIL, and HUL as well as bearish global cues.
