Friday, Apr 19 2024 | Time 22:00 Hrs(IST)
image
Business EconomyPosted at: Nov 4 2021 7:06PM


Diwali Muhurat Session: Sensex surges 400 points, Nifty 115 points

Mumbai, Nov 4 (UNI) The sensex rose more than 400 points to hit intraday highway of 60,207.97 while Nifty 50 increased by 100 points in one-hour special Diwali Muhurat trading session to mark the beginning of Samvat 2078, the Hindu New year.
The Sensex opened at 60,207.97 points.
At 1830 hrs, the Sensex was up 368.84 points or 0.60 per cent while Nifty 50 up 105.50 points or 0,57 per cent.
HDFC Bank, Infosys, Reliance Industries, ICICI Bank, Hindustan Unilever, Tata Consultancy Services and Axis Bank were among gainers.
Commenting on the outlook of Equity market for Samvat 2078, Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, said it would be unfair to assume that the benchmark indices would deliver similar returns in the short term.
Benchmark index returns in the short term may not be the right way to assess the investment opportunity, he said.
Macro headwinds like high oil prices, supply chain disruptions, the debate on transient versus structural inflation, the possibility of hardening interest rates across the globe, internal economic challenges in China and its global ramifications, and the ongoing US-China spats would keep global and local markets volatile.
''The markets are currently not fully discounting these headwinds but having said that stocks will track earnings and valuations, and to that extent companies whose stock prices are reflecting the optimistic outlook 3-4 years down the line are most vulnerable to price and time corrections,” he opined.
UNI AKM GNK
Please log in to get detailed story.
Tags: #Diwali Muhurat Session: Sensex surges 400 points# Nifty 115 points
More News

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

19 Apr 2024 | 5:34 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

see more..

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
Rupee up 8 paise against USD

Rupee up 8 paise against USD

19 Apr 2024 | 5:05 PM

Mumbai, April 19 (UNI) The Rupee on Friday ended positive at 83.47, rising 8 paise against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image