After Diwali, the upward trend in the Indian stock market continues. On Thursday, the Sensex opened at 85,154 and the Nifty50 at 26,057, remaining in the green for the sixth consecutive day. Even during the Muhurat Trading session, the market touched new annual highs, with shares like Cipla and Bajaj Finserv performing brilliantly.
Stock Market Today: After Diwali, the Indian stock market started b on Thursday. As the Sensex opened at 85,154.15 points and the Nifty50 at 26,057.20 points, enthusiasm was visible in the market. This marks the sixth consecutive day that the domestic market has remained in the green. Earlier, during the Muhurat Trading session on Tuesday, the Sensex and Nifty achieved new one-year highs. Shares like Cipla, Bajaj Finserv, and Infosys saw gains, while Kotak Bank and Asian Paints registered declines.
Strong Market Opening
Today, the Sensex opened at 85,154.15 points, significantly higher than the previous trading day's close of 84,426.34 points. Similarly, the Nifty50 also started at the 26,057.20 level, whereas it had closed at 25,868.60 in the previous session. In early trading, shares across the banking, IT, auto, and metal sectors witnessed an upward trend.
Market analysts state that this bullish trend after Diwali indicates growing investor confidence. Continuous buying by domestic and foreign funds has also bolstered the market.
Sixth Consecutive Day of Gains
This marks the sixth consecutive trading day that the Indian stock market has remained in the green. Investor interest during the festive season and positive cues from global markets have also fueled this rally.
According to market experts, b quarterly results, increased foreign investment, and robust economic indicators have instilled confidence in investors. Both the Sensex and Nifty are trading near their annual highs.
Recap of the Previous Trading Day
On the occasion of Diwali, a special one-hour Muhurat Trading session was held on Tuesday, October 21. The market performed exceptionally well that day too. Both the Sensex and Nifty closed in the green, touching new one-year highs.
During the Muhurat Trading, the Sensex closed up by 62.97 points or 0.07 percent at 84,426.34. The Nifty, meanwhile, set a new record by reaching a 52-week high of 25,934.34. The highest gains in this session were observed in shares like Cipla, Bajaj Finserv, Infosys, JSW Steel, and Grasim Industries.
Which Shares Saw Gains
In today's early session, the IT and metal sectors provided the most support to the market. Heavyweight shares like Infosys, TCS, Tech Mahindra, JSW Steel, and Tata Steel witnessed significant buying.
Furthermore, shares in the pharma sector are also showing strength. Companies like Cipla and Sun Pharma continued their upward momentum. In the auto sector, shares of Tata Motors and Mahindra & Mahindra saw slight gains.
Surge in Midcap and Smallcap Shares
Not just large-cap shares, but midcap and smallcap shares also witnessed b buoyancy today. Both the BSE Midcap Index and the Smallcap Index saw a gain of approximately 0.6 percent.
Investors are now showing interest in shares of smaller companies as well, which has broadened the market's scope.
Positive Cues from Global Markets
Asian markets also experienced a bullish sentiment today. Japan's Nikkei, Hong Kong's Hang Seng, and China's Shanghai Composite all traded in the green. Stability in global crude oil prices and positive expectations regarding interest rates in the US have strengthened investor sentiment.
