The Indian stock markets (BSE and NSE) will open for one hour today (4 November) for the Muhurat Trading session on Diwali.
The Muhurat trading is practised to commemorate the start of the new Samvat 2078. That is when the traditional business community opens its books of account. From Diwali 2020 to Diwali 2021, the 30-strong Sensex index has given a return of close to 40 percent, breaking a chain of records along the way in a liquidity-driven run.
This year, Muhurat trading session will begin at 6:15 PM and end at 7:15 PM, on Thursday on 4 November.
In general, the Muhurat trading session sees several stocks moving up and down quickly. Below are the list of stocks that brokerage houses have recommended to buy in today’s session, as per IANS.
Motilal Oswal Financial Services (MOFSL): State Bank of India (SBI), Larsen & Toubro, Trent, Tech Mahindra and Bata.
HDFC Securities: Bharti Airtel, Alembic Pharma, Cadila Healthcare, Credit Access Grameen, Gujarat Gas, ICICI Bank, Infosys, and Mphasis
ICICI Direct: Bank of Baroda, Bata India, TCNS Clothing and Gateway Distriparks.
Kotak Securities: ACC, BPCL, Hindaloc Industries, Hindustan Unilever and ICICI Band Ltd.
Geojit Financial Services: Aarti Industries, Divi’s Laboratories, Infosys, Info Edge, Minda, Zomato and PVR.
Yes Securities: Apollo Pipes, PNC Infra, IndiaMart, Polycab, Gland Pharma, and Crisil.
Edelweiss: Birlasoft, Brigade Enterprise, IndusInd Bank, Infosys, Home First Finance Company (HFFC), Indo Count Industries, Inox Leisure, Max Healthcare and Mindtree.
Meanwhile, YES Securities has set a target of 72,000 for the BSE Sensex and 21,000 for the NSE Nifty by next Diwali, indicating an upside of over 15 per cent from the current levels, reported Business Today.
AK Prabhakar, head of research, IDBI Capital Markets has set a target of 22,000 for Nifty. However, Vinod Nair, head of research, Geojit Financial Services, sees some corrections going forward. He believes Sensex may fall to 55,500 by next Diwali, while Nifty may touch 16,500.