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Diwali Muhurat Trading 2022: Sensex climbs 525 points, Nifty ends above 17,700-mark led by financial stocks

The benchmark equity indices on the BSE and National Stock Exchange (NSE) kickstarted Samvat 2079 on a positive note by surging 0.9 per cent higher during the one-hour special Muhurat trading session on Monday. The gains were driven by the banking and financial stocks.

The S&P BSE Sensex surged 524.51 points (0.88 per cent) to settle at 59,831.66 while the Nifty 50 rallied 154.45 points (0.88 per cent) to end at 17,730.75. During the auspicious one-hour trade the Sensex touched an intraday high of 59,994.25 while the broader Nifty hit 17,777.55.

On the Sensex pack, ICICI Bank, Nestle India, State Bank of India (SBI), Larsen & Toubro (L&T), HDFC twins – Housing Development Finance Corporation (HDFC) and HDFC Bank, Dr. Reddy’s Laboratories, Infosys and NTPC were the top gainers in the one-hour session while Hindustan Unilever (HUL) and Kotak Mahindra Bank were the losers.

Among the sectoral indices on NSE, the key Bank Nifty surged 1.28 per cent while the Nifty Financial Services index gained 1.27 per cent. Additionally, the Nifty Auto index rose 0.78 per cent and the Nifty IT climbed 0.70 per cent.

In the broader market, the S&P BSE MidCap index rose 124.69 points (0.50 per cent) to close at 24,929.84 while the S&P BSE SmallCap ended at 28,848.42, up 281.60 points (0.99 per cent).

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Muhurat trading time

The BSE and NSE conducted the auspicious Muhurat trading session on the occasion of Diwali on Monday (October 24, 2022).

The one-hour special session is done at the start of the new Hindu accounting year – Samvat 2079. Muhurat trading is a symbolic session conducted by the Indian stock exchanges every year on Diwali.

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This year, the Muhurat trading session was scheduled between 6.15 pm and 7.15 pm on October 24, 2022. The pre-open session was held from 6 pm to 6:15 pm.

Historically, the BSE started the Muhurat trading in 1957 and the NSE began conducting it in 1992.

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Importance of Muhurat trading

This special trading session opens following the Hindu Panchang. This marks the beginning of a new Hindu calendar known as Samvat which begins on Diwali. Muhurat trading is considered to be very auspicious by Indian trading community who believe that it brings prosperity and financial growth throughout the year.

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