INSUBCONTINENT EXCLUSIVE:
MUMBAI: Shares recorded the highest Muhurat day gains in 10 years on Wednesday as falling oil prices and a stabler rupee comforted investors
rattled by steep losses in September and October
The Sensex gained 246 points, or 0.7 per cent, to end at 35,237.68, while the Nifty closed at 10,598, up 68 points, or 0.65 per cent.
This
Brothers and the global financial crisis
Of the 2,497 stocks that were traded on BSE on Wednesday, 77 per cent or 1,932 ended in the green
Muhurat trading is a special trading session of one hour on the day of Diwali and is usually marked by token buying by retail investors,
began Samvat 2075, the Hindu calendar year, on a high note and it ended the previous year on Tuesday on a slight high
More than Rs 5 lakh crore of investor wealth was wiped off in September and October after investors took fright at a series of defaults by
Infrastructure Leasing Financial Services and dragged down shares of nonbanking finance companies
The sharp rise in crude prices impacted the rupee which fell to an all-time low of Rs 74.48 to the dollar before recovering to trade around
Crude oil has since been falling and this was reflected in gains in shares of oil marketing companies on Wednesday.
Fund managers and
2074Among the Sensex stocks which led the gains were auto stocks such as MM, Tata Motors, Hero Motocorp, Bajaj Auto along with Infosys and
Vedanta which gained between 1 per cent and 2 per cent.
The BSE midcap and smallcap indices gained 0.80 per cent and 1.19 per cent,
respectively.
Among sectors, the BSE Automobile index rallied 1.08 per cent while indices comprising banks, consumption, IT and metals
rallied nearly a per cent.
Samvat 2074 was the most volatile year with Sensex rallying over 20 per cent between October 2017 and August 2018
before falling 15 per cent in the next two months
Samvat 2074, the BSE Midcap and BSE Smallcap index lost 8 per cent and 15 per cent, respectively.
The year also recorded one of the sharpest
outflows by foreign funds, which sold nearly Rs 23,000 crore in Samvat 2074
However, domestic mutual funds pumped in nearly Rs 1.33 lakh crore during this period
fund manager, Helios Capital.
