Sensex surged 525 points to 59832 in late trading

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Start of Samvat 2079: Fireworks of boom in banking stocks

MUMBAI: Samvat 2079 began today with a universal rally in stocks in the early trading session in the Indian stock markets. After the global financial crisis in 2078, the Indian stock markets had a massive boom year due to heavy investment flows from local funds-local institutional investors, with many observers predicting that the market will create a new history in 2079. Sensex ended today by 524.51 points to 59831.66. Which is the biggest jump in the last 14 years. The number of investors in the country has started to increase and the youth group is attracted to invest in stocks. The positive optimism that India will play a bigger role on the world economic map in the coming years has seen the investment attractiveness in stocks increasing. Funds, investors in banking-finance stocks showed bullish fireworks.

Meanwhile, today-Tuesday, October 25, 2022, trading in the stock markets will continue as usual. While the stock markets will be closed on Wednesday, October 26, 2022. Market breadth remained positive with enthusiastic buying in small and mid cap stocks as well. Out of the total 3569 scrips traded in BSE, the number of gainers was 2662 and the number of decliners was only 744.

In the special one-hour trading session today, Sensex opened by 1 percent i.e. 600 points and Nifty also opened by 1 percent i.e. 160 points gap up. , on the back of ICICI Bank's good quarter with heavy buying and Larsen & Toubro, Nestlé India, Mahindra & Mahindra, Power Grid Corp, NTPC, Tata Consumer Products, ONGC, Infosys, Dr. Reddy's Laboratories, Cipla, Divi's Lab, Ultratech Cement, Tata Steel , Tata Motors, Sun Pharma among others saw an aggressive rally as investors bought omens and attracted funds too.

Hindustan Unilever, Kotak Mahindra Bank were the only two stocks in Sensex and Nifty that saw profitable selling. The Sensex touched the 6000 level at 5999.25 at the beginning of the day and ended by 524.51 points to 59831.66. While the Nifty spot touched 17777.55 and increased by 612.15 points to 17738.45.

Bankex jumped 530 points

Aggressive buying by funds, investors in banking-finance stocks today. In ICICI Bank's second quarter results announced last Saturday, net profit rose 37 percent to Rs 7,558 crore, with shares rising by Rs 25.75 to Rs 932.90 on aggressive buying.

State Bank of India rose by Rs.11.15 to Rs.571.95. As a result, Federal Bank increased by Rs.2.40 to Rs.135, HDFC Bank increased by Rs.21.20 to Rs.1459.60, Axis Bank increased by Rs.7.15 to Rs.907.40. The BSE Bankex index rose 530.71 points to close at 47380.29.

The price of palm oil touched Rs.1000 in Muhurta

400 to 500 tonnes of imported palm oil was traded in the Mumbai oil-seeds market today in the New Year rush trades. Malaysia palm oil market was closed today. While the US soybean oil price projection was 18 points lower. In the Mumbai spot market today, in the Muhurta trades, the price of 10 kg of single oil was calm at the head of Rs.1600 while the price of cottonseed oil remained at Rs.1380 to Rs.1390. On the Saurashtra side, cotton washed prices were Rs.1315 against Rs.1300, while Saurashtra single oil prices continued to decline. The price of imported palm oil rose to 995 in the Mumbai market. In hawala-resale, 400 to 500 tonnes were traded at Rs.991 to 995.

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