The 60-minute Mahurat trading session during the Indian festival Diwali, is of importance for the financial markets. What occurred today and how did it impact gold?
30 October, AtoZForex – The Indian stocks exchanges namely Bombay Stock Exchange (BSE) and National Stock exchange (NSE) conducted a special trading session on Sunday. The ‘Mahurat’ trading session was held on the occasion of Diwali between 6:30 pm – 7:30 pm IST. Diwali, the festival of lights is among the prosperous festivals in India and also impacts the markets. It marks the beginning of the New Year in India and it’s believed that the Mahurat trading session today brings wealth and prosperity throughout the year.
The trade began on a positive note, but not for long. The investors’ sentiments subdued, due to the caution ahead of the key global events’ risks and negative international cues. During the trading session, BSE led the market in equity derivatives, currency derivatives, equity and SLB portion. While NSE would direct the same in currency derivatives, futures and options and capital market segment.
Mahurat trading session overview
On Friday, the BSE closed at 27,942 gained 27 points while nifty closed at 8,638 gained 23 points. Riding high on merry energy, the market opened during the Mahurat trading session on a firm note. The Sensex was up 124.49 or 0.4 percent at 28066.00 and the Nifty was up 34.35 or 0.4 percent at 8672.35.
The S&P BSE Sensex finished down 11 focuses at 27,930 and the 50-share Nifty settled 12 focuses bring down at 8,626. In the more extensive markets, the BSE Midcap file increased 0.5% and the Small-top record picked up about 1% to hit 52-week high in intra-day exchange. Showcase broadness finished solidly with 1960 gainers and 495 washouts on the BSE.
How were Gold and silver trading during Mahurat?
Gold cost expanded by Rs 160 to Rs 30,750 for each 10grams on the eve of Diwali at the bullion showcase today on expanded purchasing by diamond setters to take care of merry demand alongside a firm worldwide pattern. Silver recovered the Rs 43,000-stamp per kg by picking up Rs 300 on expanded offtake by coin producers and modern units. On the international benchmark, gold rose by 0.52 percent to USD 1,274.70 an ounce and silver by 0.77 percent to USD 17.73 an ounce.
In overall, 883 shares were progressed, 119 shares declined, and 59 shares were unaltered. Lupin, Bajaj Auto, Axis Bank, Cipla and Sun Pharma were gainers while Dr. Reddy’s Labs, Tata Motors and HDFC were washouts in the Sensex. Related to Forex, the INR remains strong due to the huge rising demand of gold in the Indian market. Tomorrow, 31st of October, the Indian markets will remain closed on account of the ‘Balipratipada’.
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