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
The BSE MidCap and SmallCap indices outperformed, with 44% and 43% gains, respectively during the year
Domestic equity markets made history in Samvat 2080
Choice Equity Broking has released its annual Muhurat Picks 2024 report, offering investors a comprehensive guide to making informed investment decisions this Diwali.
Domestic equity markets made history in Samvat 2080. The Nifty 50 index crossed the 26,250 mark, while the BSE Sensex surged past 85,900 for the first time in September, both registering gains of approximately 25% during the year.
The BSE MidCap and SmallCap indices outperformed, with 44% and 43% gains, respectively. This rally occurred despite geopolitical tensions, global economic challenges and elevated interest rates. Looking ahead to Samvat 2081, Choice Equity Broking has recommended 10 stocks for Diwali investments.
Bajaj Auto (Target price: Rs 12,483)
Choice Broking is positive on Bajaj Auto’s growth trajectory in the medium to long term, supported by several key factors such as growing focus on exports to drive sales, increasing demand for the 125cc 2W “Freedom”, strong demand for the 2W EV “Chetak” and an aggressive marketing push for CNG-based 2-wheelers and electric variants. With the rising contribution of premium products like Triumph, solid growth in the EV portfolio (2W+3W), and improving profitability from “Chetak,” the brokerage recommend ‘Buy’ rating on the stock.
Bharat Dynamics (Target price: Rs 1,501)
Choice Broking has a positive outlook on Bharat Dynamics (BDL), as it is catering for the strategic needs of the MoD Indian defence forces, supported by a sole supplier of offensive, as well as defensive systems domestically. Upcoming big-ticket projects are in the pipeline it is expected to materialise from FY25 onwards. In addition to this, increasing export opportunities, talks are underway with 4-5 friendly countries, diversified product portfolio across armed forces, the company’s humongous order book, which stood at Rs 19,500 crore as on April 1, 2024, stands at 8.2x of FY24 revenue will support the growth story of the company.
ACC (Target price: Rs 2,795)
India’s cement demand is expected to maintain a growth rate of 7-8%, largely propelled by investments in infrastructure and extensive residential housing projects. The company is targeting to double its capacity to 140 million tonne (mnt) by FY28E, a significant increase from its current capacity of 89 mnt. The company’s strategy revolves around cost optimisation, with a concerted effort to reduce costs to fuel its growth trajectory. As per FY26E estimates, Choice Broking expects revenue and EBITDA to grow at a CAGR of 5.7% and 13.1%, respectively, over FY24-FY26E.
Somany Ceramics (Target price: Rs 965)
Choice Broking expects Somany Ceramics to registered a healthy revenue, EBIDTA and PAT growth of 11%, 13% and 23%, respectively, CAGR over FY24-27E and RoCE expansion from around 14.2% in FY24 to 17.4% in FY27E.
TCS (Target price: Rs 4,664)
The company is investing significantly to create a large footprint in emerging growth markets. A near all-time high TCV and client interest in GenAI shall provide growth. Choice Broking has introduced FY27E and expect revenue, EBIT and PAT to grow at a CAGR of 10.3%, 12.3% and 12.2%, respectively over FY24-FY27E.
HCL Technologies (Target price: Rs 2,105)
The company remains committed to achieving business growth in a sustainable and responsible manner. Their deal pipeline is robust, featuring opportunities in Data & AI, Digital Engineering, SAP migration and efficiency-driven programs. The brokerage expects revenue, EBIT and PAT to grow at a CAGR of 10.5%, 13.5% and 13.7%, respectively, over FY24-FY27E.
EFC (I) Ltd (Target price: Rs 855)
EFC Ltd is a real estate management company headquartered in Pune. Its principal business is to provide managed office spaces for startups, small and medium-sized businesses and large corporations. EFC operates through 3 major verticals: office rentals, interior and furniture and fixture trade. It has recently forayed into furniture manufacturing, in which will complement its existing managed office business and also supply to third parties.
EFC’s plan to scale up all 3 business verticals – managed office space, design and build and furniture manufacturing will establish itself as an integrated player with diverse revenue streams and also able to capitalise on the cross synergies from these 3 verticals. The furniture manufacturing division starts contributing meaningfully from Q2FY25 as the large capacities go live and will be scaled up in FY26. With the market already for EFC as 60-70% capacity utilisation will be met from internal furniture requirement only and then will start pursuing the B2B model.
Granules India (Target price: Rs 723)
Granules is expected to benefit from its strategic shift towards the FD segment, stabilising Paracetamol API sales in Europe, backward integration efforts, the operationalisation of its new FD facility and new product launches, particularly in North America. Choice Broking projects the company’s revenue, EBITDA and PAT to grow at a CAGR of 15%, 22% and 27%, respectively, from FY24-27E.
Global Health (Target price: Rs 1,246)
Global Health is one of the biggest private multispecialty tertiary care providers in the North and East regions of India in terms of bed capacity and operating revenues with key specialties in cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, kidney, and urology. The organisation operates a network of numerous hospitals under the “Medanta” brand, including ones in Gurgaon, Indore, Ranchi, Lucknow and Patna, as well as one hospital that is currently being built in Noida.
Choice Broking forecasts that Medanta’s revenue and EBITDA will grow at a CAGR of 21.6% and 23.0%, respectively, for FY24-26E. The company is in a capex phase, planning to invest Rs 1,000-1,200 crore over the next two years, which may impact margins when the Noida facility begins operations.
Ugro Capital (Target price: Rs 345)
UGRO Capital is well-positioned to capture the growing demand for MSME credit, with its scalable and tech-driven business model driving sustainable growth. The company’s diversified revenue streams, combined with its strong focus on capital efficiency through co-lending partnerships, provide a solid foundation for long-term profitability. Choice Broking projects UGRO to achieve an earnings per share (EPS) CAGR of 42% from FY24-26E.
Newsbusiness » markets Diwali Stock Picks: Choice Broking’s Top 10 Stock Picks For Muhurat Trading 2024
