A decade of data reveals why India's stock market has turned Diwali-to-year-end into a predictable bull run
How is India’s economy shaping up? Is the trade deficit a worry? As the recovery makes its way, next week comes with a barrage of numbers that will clear the picture. Alongside, the Fed and the BoE are slated to meet. Also, do watch out for the Mahurat trading on the Diwali day
Leading bourses BSE and NSE will conduct special 'Muhurat' trading session on Diwali on October 30.
Jai Bala, 1857 Advisors says that the market is at inflection point. He feels that bottoming process of the market will be a long drawn. He adds that the Nifty will hold 7540 and even if it slips, it won't go below 7225. According to Bala, chances of the Nifty falling below 7500 is very slim.
Atul Suri said the market mood seems to be cautious at the moment and broader market participation is not high. He believes, retail participation is likely when market hits a new high. The global gold prices are flat at the moment and the local gain is largely due to the currency, added Suri.
Indian equity benchmarks opened flat to positive on mahurat, but immediately slipped into red following weak global trend.
With Mahurat trading coming to an end for 2011, market did not fare too badly. Nirmal Jain of IIFL tells CNBC-TV18 that the valuations in the broader index are beginning to look attractive.
Naveen Mathur of Angel Broking tells CNBC-TV18 that during this festive season, gold is a great play.
Indian equity benchmarks closed the mahurat trading session of Samavat 2068 with moderate gains, helped by capital goods, FMCG, metal and select banks stocks. But, the broader indices outperformed benchmarks quite nicely.
CNBC-TV18's managing editor Udayan Mukherjee says that it is the most auspicious session of the year by the fact that the Nifty has journeyed after a lot of splutters and starts to the 5,200 level.