Samvat 2075 gets off to a flying start; Sensex surges 246 points

Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck.
The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.

Benchmark Sensex surged 246 points to end above the key 35,000-mark on Wednesday as investors built up fresh positions in the special Muhurat session to mark the beginning of Hindu Samvat year 2075.

The Sensex, after a gap up opening at 35,301.88, advanced to 35,302.25 on a flurry of buying.

It shed some ground on profit-booking and finally settled 245.77 points, or 0.70 per cent higher at 35,237.98.

Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck.

On similar lines, the broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.

A similar trend was seen in the broader markets as investors accumulated stocks available at attractive levels.

The BSE small-cap index jumped 1.08 per cent and the mid-cap gauge gained 0.62 per cent.

The BSE Sensex gained 2,407.56 points, or 7 per cent, in the Hindu Samvat year 2074, while the NSE Nifty rose by 319.15 points, or over 3 per cent.

The BSE and NSE will remain closed Thursday (November 8) on the occasion of 'Diwali Balipratipada'.

Brokers said buying activity gathered momentum as investors opened their new books on the first session of Samvat 2075.

In the Sensex kitty, prominent gainers were M&M, Infosys, Tata Motors, Bajaj Auto, Hero MotoCorp, Vedanta Ltd, ITC Ltd, Asian Paints, Maruti Suzuki, Tata Steel, IndusInd Bank, ONGC, ICICI Bank, HUL, Yes Bank, NTPC, RIL, L&T, Kotak Bank, Coal India, PowerGrid, TCS, Sun Pharma,, HDFC Ltd, HDFC Bank, Wipro and Adani Ports, rising by up to 1.97 per cent.

Globally, Wall Street stock futures rose on Wednesday after Democrats won control of the US House of Representatives, boosting the party's ability to block President Donald Trump's political and economic agenda.

Meanwhile, domestic institutional investors (DIIs) bought shares worth Rs 118 crore, while foreign institutional investors (FIIs) sold equities worth Rs 499.7 crore on Tuesday, as per provisional data.

In the Asian region, Hong Kong's Hang Seng rose 0.10 per cent, while Taiwan was up 0.85 per cent. Japan's Nikkei, however, shed 0.28 per cent.

In Europe, Paris CAC 40 surged 1.36 per cent, Frankfurt's DAX gained 1 per cent, while London's FTSE rose 1.17 per cent in early deals.

Photograph: Shailesh Andrade/Reuters