Muhurat Trading 2024 LIVE Updates: The Indian stock market, both BSE Sensex and NSE Nifty, will be opened for a special one-hour trading session on Friday between 6 pm and 7 pm. The Muhurat Trading Session 2024 today comes at a time when there are heightened geopolitical risks, elevated crude oil prices, and an ongoing domestic market correction amid high valuations.
Muhurat trading, a one-hour symbolic trading session on Diwali, holds a revered position in the Indian stock market and marks a new Hindu calendar year. The Samvat Year 2080 concluded on Thursday and the new Samvat 2081 starts today, November 1, 2024.
Over the past 15 years, Muhurat trading sessions have frequently recorded positive returns, with indices closing in the green 12 times out of 15. This positive trend underscores the festive optimism often reflected during the session, even if trading volumes remain lower than average.
“Samvat 2081 can be the year of consolidation for the first few months followed by the likely beginning of an uptrend post next Union Budget 2025-26 which is likely to be presented in the month of February 2025,” said SBI Securities in its report. Sharekhan said the time has come for rebalancing portfolio and increasing exposure to large caps and at the same time cutting exposure in the small and midcap space, and be very selective.
Bajaj Finserv, Bharti Airtel, RIL, SBI, Tata Motors, Escorts Kubota, ICICI Bank, HCL Tech, L&T, Titan, Zomato, IPCA, and Angel One are some of the stocks recommended by various brokerage firms for the Diwali 2024.
Over the past 15 years, Muhurat trading sessions have frequently recorded positive returns, with indices closing in the green 12 times out of 15.
The Muhurat Trading 2024 to mark the beginning of the Samvat 2081 will be conducted between 6 pm and 7 pm today.
Muhurat Trading 2024: Muhurat trading, a one-hour symbolic trading session on Diwali, holds a revered position in the Indian stock market. Steeped in tradition, it’s more than just a trading day; it’s a time when market participants embrace the hope for prosperity in the coming year. The latest Muhurat Trading 2024 to mark the beginning of the Samvat 2081 will be conducted between 6 pm and 7 pm today. Here’s what data suggest about the movement of the Indian stock markets on muhurat trading session in the past 15 years.
Over the past 15 years, Muhurat trading sessions have frequently recorded positive returns, with indices closing in the green 12 times out of 15. This positive trend underscores the festive optimism often reflected during the session, even if trading volumes remain lower than average.
In the past 15 years since 2009, only three muhurat tradings — in 2012, 2016 and 2017 — witnessed a fall with the Nifty slipping marginally by 0.3 per cent, 0.04 per cent and 0.6 per cent, respectively.
The year 2022 saw the highest jump in Nifty of 0.88 per cent on a Muhurat Trading Day since 2009.
2023 Muhurat Trading Session: A Year of Strong Gains
In 2023, the Muhurat trading session held on November 12 offered significant gains, ending as one of the strongest Muhurat sessions in recent years. The S&P BSE Sensex rose by 355 points, or 0.55%, to close at 65,259, while the Nifty50 gained 100 points, or 0.52%, closing at 19,525. Mid and smallcap stocks outperformed as well, with the BSE Midcap index climbing by 0.67% and the BSE Smallcap index surging by 1.14%. The day’s gains translated into a collective increase in the market capitalization of all companies listed on the BSE, adding an impressive ₹2.2 lakh crore to a total of ₹322.5 lakh crore.
The performance was broad-based, with 28 of the 30 Sensex stocks and 43 of the 50 Nifty stocks closing higher. Notable gainers included Coal India, UPL, Infosys, and Eicher Motors, which led the day’s gains. The robust performance of large-cap, midcap, and smallcap stocks reflected strong investor sentiment and enthusiasm for the year ahead.
Historical Muhurat Trading Trends
Over the years, Muhurat trading has generally aligned with positive market sentiment. The index typically posts gains, reflecting the collective belief in Diwali’s auspicious timing for wealth-building. Here’s the performance of some recent Muhurat trading sessions:
2022: The indices gained around 1%, maintaining a bullish sentiment amid an uncertain global environment.
2021: Muhurat trading recorded a modest 0.5% increase, driven by a post-pandemic recovery.
2020: The markets reflected pandemic optimism, rising by 0.47%.
2019: Despite global economic uncertainties, indices rose by 0.37%.
2018: Another positive year, with a 0.7% increase in the indices.
Some years, however, did see declines. For instance, the Sensex dropped by 0.6% in 2017, slipped 0.04% in 2016, and fell 0.3% in 2012. These dips were often influenced by global headwinds or local economic concerns that tempered Diwali optimism.
The performance of Nifty in the last 15 muhurat trading days:
2023: 0.52%
2022: 0.88%
2021: 0.5%
2020: 0.47%
2019: 0.37%
2018: 0.7%
2017: (-) 0.6%
2016: (-) 0.04%
2015: 0.5%
2014: 0.2%
2013: 0.2%
2012: (-) 0.3%
2011: 0.2%
2010: 0.5%
2009: 0.02%
Muhurat Trading’s Symbolic Value and Market Sentiment
While Muhurat trading remains largely symbolic, it frequently serves as a reflection of investor optimism and market resilience. Its generally positive returns, even during challenging times, make it a unique annual event in Indian markets. For investors, the day isn’t just about potential gains but also about starting the year on a prosperous note. The consistent performance of Muhurat trading sessions over the years reinforces the idea that tradition, combined with a positive outlook, often brings fruitful outcomes.
The 2023 session stands as yet another affirmation of the Muhurat trend, where markets closed higher, reflecting the vibrant spirit of Diwali and the market’s steady resilience.
Diwali Muhurat Trading 2024: Best Stock Picks
Here are top Diwali stock ideas from top brokerages:
Sharekhan: Allied Blenders & Distillers, Bajaj Finserv, Bharti Airtel, Caplin Point Laboratories, Dabur, Dee Development, Hi-tech Pipes, HUDCO, L&T, Mastek, Powergrid, RIL, SBI, Suntech Realty and Tata Motors.
SBI Securities: Coal India, Macrotech Developers, Bharti Hexacom, Glaxosmithkline Pharma, Nippon Life AMC, Escorts Kubota, Chalet Hotels, Newgen Software, Titagarh Rail, PG Electroplast, Arvind Fashions and Kilburn Engineering.
Motilal Oswal: ICICI Bank, HCL Tech, L&T, Titan, Zomato, IPCA, Angel One, Five Star, Amber and Zen Tech.
Axis Securities: Gravita India, Arvind Smart Spaces, Inox Wind, KPIT Technologies, HG Infra, AU Small Bank, Lupin, Indian Hotels and UNO Minda.
HDFC Securities: Bank of India, JK Lakshmi Cement, Jyothy Labs, L&T Finance, NALCO, Navin Fluorine, NCC, PNB Housing Finance, RIL and SBI as Diwali stock picks.
Kotak Securities: Aadhar Housing, Axis Bank, Fiem Industries, Gravita India, Godrej Agrovet, JB Chemicals, SH Kelkar and Zomato.
“Samvat 2081 can be the year of consolidation for the first few months followed by the likely beginning of an uptrend post next Union Budget 2025-26 which is likely to be presented in the month of February 2025,” said SBI Securities in its report.
Sharekhan said the time has come for rebalancing portfolio and increasing exposure to large caps and at the same time cutting exposure in the small and midcap space, and be very selective, while investing in small and microcaps and exiting companies, where valuation is at astronomical levels with little margin of safety.
Newsbusiness » markets Muhurat Trading 2024: Will Markets Gain Today? Here’s What 15-Year Historical Data Suggest
Indian Indices are richly valued compared to their historical valuations, and the current prices of many stocks across different sectors offer a low margin of safety. India’s weight in global indices has been rising sharply over the past few years and continued performance will attract higher attention and allocation from large global funds.
Brokerage firm Kotak Securities said the Nifty surpassed 26,250 and BSE Sensex surpassed 85,900 in September 2024, with both Indexes gaining around 25 per cent during Samvat 2080. The BSE Midcap and Smallcap Index outperformed and gained 45 per cent and 50 per cent respectively. The up move in markets was exceptional considering geopolitical tensions, global weakness, and global elevated interest rates, it said.
The brokerage has identified eight potential stock ideas that are expected to do well in Samvat 2081. Here is a look at those eight names:
Aadhar Housing Finance: Kotak Securities recommends buying the stock with a price target of Rs 550 until the next Diwali. The brokerage said that Aadhar Housing Finance has a long track record, a well-diversified geographical presence, and a customer profile. It has a 7 per cent market share in the affordable segment.
Axis Bank: Kotak Securities has advised investors to buy the stock with a price target of Rs 1,500 until the next Diwali. The brokerage said the bank’s business execution is on expected lines, with a focus on the GPS strategy to build a solid franchise. With losses of over 3 per cent and are also down for the fourth day in a row. The lender is contributing 22 points to the Nifty fall.
Godrej Agrovet: The brokerage said the company’s near-term trends remain mixed, but longer-term outlook stays promising. Kotak believes there is strength in Astec’s product pipeline, which it finds promising. Kotak also said that it consider the acquisition of the 49 per cent minority stake in GTFL an incremental positive. The brokerage has an expectation of healthy earnings growth in FY26 as well. “We roll forward, build in stake purchase at GTFL and assign EV/EBITDA multiple of 15X to standalone crop protection,” it said while maintaining an ‘Add’ rating after the recent rally.
Zomato: Kotak Securities recommends buying the stock with a price target of Rs 315 until the next Diwali. It expects Zomato to deliver a revenue CAGR of 44 per cent over FY24-27E and strong improvement in EBITDA margin over the same period.
FIEM Industries: Kotak Securities has advised investors to buy the stock with a price target of Rs 2,140 until the next Diwali. Kotak said that FIEM is well-placed to benefit from the two-wheeler industry recovery. The company’s debt-free balance sheet; cash flow generation are expected to remain robust, the brokerage said.
Gravita India: The brokerage has an ‘Add’ rating, and a price target of Rs 2,800 per share on the counter. Kotak said that Gravita India’s organised segment’s market share is expected to expand significantly with regulatory tailwinds. Gravita is on best place to capture this opportunity, it said. The brokerage expects earnings per share to grow by 31.8 per cent in FY25E and 31.6 per cent in FY26E.
JB Chemicals & Pharma: Kotak Securities has advised investors to buy the stock with a price target of Rs 2,255 until the next Diwali. The brokerage expects the company to deliver 14 per cent, 19 per cent, and 22 per cent revenue, EBITDA and PAT CAGRs, respectively, over FY24-27E.
SH Kelkar and Company: Kotak said that the company is well-placed to drive double-digit revenue growth. The brokerage sees a long runway for growth, given its established and sticky relationships. The large order win from Unilever bolsters confidence in management guidance. High entry barriers in the F&F industry make for an attractive industry structure. Kotak has reinstated coverage with a buy rating and a price target of Rs 400 per share.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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