American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Indian shares rally as Nifty and Sensex rebound in Diwali Muhurat trading

by admin November 2, 2024
November 2, 2024
Indian shares rally as Nifty and Sensex rebound in Diwali Muhurat trading

During India’s annual Diwali ‘muhurat’ trading, the NSE Nifty 50 and BSE Sensex indices showed a notable uplift, rallying on the back of renewed investor confidence and festive optimism.

Both indices bounced back after two days of losses, with Nifty 50 rising by 0.41% and Sensex by 0.42%, showcasing positive investor sentiment as the holiday period fuelled a surge in demand.

All 13 major sectors marked gains, and auto stocks led the rally, with Mahindra & Mahindra notably jumping by 3.27%, reflecting its 25% sales increase in October.

Festive demand drives Nifty 50 and Sensex gains by over 0.4%

The festive boost was evident across all sectors, with mid-cap and small-cap indices rising by nearly 0.7% and 1% respectively.

The gains were largely propelled by the auto sector, as manufacturers reported heightened sales linked to Diwali demand.

Despite recent underperformance in October, which was the toughest month for these indices since March 2020, the Diwali trading session highlighted resilience within the Indian stock market.

Companies like NCC saw a rise of 4.6% following lucrative contract wins, while certain sectors like healthcare saw mixed responses, with Narayana Hrudayalaya dropping by 2%.

This year’s Diwali trading session offered a welcome break from an otherwise challenging October.

With foreign investors pulling out amid subdued earnings, Indian benchmarks experienced significant losses, underscoring the market’s sensitivity to both local and global factors.

While Diwali optimism provided a brief respite, analysts caution that sustaining this momentum will depend on various factors, including corporate earnings and the return of foreign investment.

What’s next for India’s stock market?

While the Diwali rally brought cheer to investors, the Indian stock market remains at the mercy of both domestic and international pressures.

Upcoming indicators like US non-farm payroll data, as well as the US presidential elections, will likely influence investor sentiment in the coming weeks.

On the home front, corporate earnings and foreign investment inflows will play a critical role in maintaining upward momentum post-Diwali.

The auto sector emerged as the top performer during the Diwali trading session, with Mahindra & Mahindra leading the way.

Analysts note that sustained growth in this sector will require continued demand, which could face headwinds if global economic pressures persist.

The festive demand boost reflects positive sentiment, but with foreign investment flows showing caution, the market’s near-term path remains uncertain.

Mid-cap and small-cap stocks also saw a strong boost, with many investors optimistic about long-term growth prospects, supported by favourable domestic policies.

The post Indian shares rally as Nifty and Sensex rebound in Diwali Muhurat trading appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Abercrombie & Fitch stock sits at a key support: wait before buying
next post
Is Intel’s downtrend finally over? Stock signals a rebound

Related Posts

Global debt has grown to $315 trillion this...

May 31, 2024

US, China, Germany drive Bitcoin reserves down to...

April 28, 2025

Ageas to acquire Esure in £1.3bn deal, targets...

April 14, 2025

Coinbase stock price could surge by 70% after...

May 13, 2025

Trump tariffs, tax cuts and interest rates likely...

May 3, 2024

ServiceTitan stock soars 40% on Nasdaq debut

December 13, 2024

EPA bans asbestos, a deadly carcinogen still in...

March 20, 2024

Adani Green Energy rises 19% as stock rebounds...

November 29, 2024

HSBC’s $3B share buyback: What it means for...

October 29, 2024

The Fed may soon cut interest rates. That...

July 12, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved