Closing Bell: Sensex ends 355 points higher, Nifty above 19,500; smallcaps shine, all sectors in green

Indian equities are expected to outperform most other global markets in the face of continued geopolitical uncertainties and relatively higher domestic economic growth. The major themes will be domestic consumption and premiumisation, enabling companies to post strong earnings growth aided by margin accretion. Infra and construction plays are expected to do well as the government’s thrust on infrastructure development is seen to continue, while higher budgetary allocation in rural-focus schemes can help drive a recovery in rural consumption, especially with the upcoming budget being the last one before the general elections.

In spite of rich valuations in the small- and mid-cap segments, companies with fundamentally strong businesses and good earnings growth continue to justify their valuation. If US bond yields start coming down by the second half of CY2024, FPIs will come back to the party. Upcoming state and general elections can make the market move sideways. Inflation, interest rate trajectory, and geopolitical tensions will remain the key risks.”

Muhurat Trading at the National Stock Exchange is a testament to our shared financial aspirations. In the heart of this vibrant marketplace, as the Diwali lights shimmer, we embark on a journey of careful choices and strategic investments. Each trade made during this auspicious time promises growth and the spirit of unity among investors. NSE encourages investors to deal only with registered intermediaries and refrain from dealing in unregulated products. Stock market is meant for long-term wealth creation.

An unpleasant experience disheartens the affected investors to enter the stock market ever again. Trade in derivatives by retail investors should be avoided because of the high risk involved in derivatives. Be a long-term player. This is the best way to participate in India's growth story. May the trades be favorable, the investments be fruitful, and the spirit of Diwali guide us toward abundance and financial success. Happy Muhurat Trading at the National Stock Exchange, where every trade signifies our collective resolve to build a stronger, wealthier tomorrow.

As we bid farewell to Samvat 2079, the horizon of Samvat 2080 looks promising. Wishing you a joyous Deepavali and prosperous times ahead. With Nifty at 19425 and Sensex at 64905, anticipation builds for an electrifying start, especially in today's special Muhurat trading session.

Our 'Diwali Picks 2023' features 12 stocks with balanced investment potential, including names like HDFC Bank, L&T, Tata Motors, Indigo, Tata Power, ABFRL, Crompton Greaves Consumer Electricals, Usha Martin, Doodla Dairy, Ashoka Buildcon, LG Bal Bros, and Imagica. We recommend accumulating these value picks with strong fundamentals for potential growth. The market optimism is fueled by factors such as the Federal Reserve's efforts for a "soft landing," robust GST numbers, active retail participation, easing Middle East hostilities, and declining WTI oil prices. Here's to Happy Investing and a Joyous Deepavali.

It was green all around as buying in every sector pushed benchmark indices higher. Sensex rose more than 350 points while Nifty traded up 100 points above 19,500.

Moody's on November 10 lowered its outlook on the US credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability. The move follows a rating downgrade of the sovereign by another rating agency, Fitch, this year, which came after months of political brinkmanship around the US debt ceiling. Federal spending and political polarisation have been a rising concern for investors, contributing to a selloff that took US government bond prices to their lowest levels in 16 years.