Indian equity benchmarks started Samvat 2079 on a positive
note led by solid gains in financial and capital goods stocks. In Monday’s
one-hour special trading session, the Sensex climbed 524.51 points or 0.88% to
settle at 59,831.66. The Nifty rose 154.50 points or 0.88% to close at
17,730.80. Nearly 2602 shares have advanced, 727 shares declined, and 153
shares remained unchanged.

All sectoral indices ended in the green with bankex,
telecom, and capital goods indices up by 1% each. The BSE Midcap and Smallcap
are up 0.5% to 1%. The FMCG index ended a tad in red.

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In Asian markets, Tokyo and Seoul settled in the green,
while Shanghai and Hong Kong slipped up to 6.36%, posting their worst day in
more than a decade.

European stock markets were trading with gains in the
afternoon session. 

The benchmark indices registered the best-ever trading
session on Muhurat day in the last 14 years, since 2008.

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Indian Markets conduct a special one-hour Muhurat trading
session on Diwali every year to mark the beginning of the traditional Hindu
calendar year, called ‘Vikram Samvat’.

Top gainers from the Sensex pack were Nifty up by 2.92%,
ICICI Bank up by 2.07%, Larsen & Toubro 1.84%, State Bank of India 1.70%,
HDFC 1.57%, HDFC Bank 1.56%, Dr Reddy Labs 1.25%, Infosys 1.22%, NTPC 1.12%,
Mahindra & Mahindra 1.05%, Tata Steel 1.05%, Asian Paints 0.98%, Axis Bank
0.98% and Bajaj Finserv 0.96%.

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Among the laggards were Hindustan Unilever down by 3.05%
and Kotak Mahindra down by 0.42%.

“Even though Samvat 2078 ended with marginal negative
returns, the overarching feature of the year gone by was India’s distinct
outperformance. While the MSCI World Index and MSCI Emerging Market Index fell
by 23% and 33% respectively, Nifty hugely outperformed with a minor cut of only

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“This outperformance in a year of a war in Europe and
rising inflation and interest rates in the developed world reflects Rising
India’s resilience,” said V K Vijayakumar, Chief Investment Strategist at
Geojit Financial Services.

The BSE and NSE will be closed on Wednesday, October 26, on
the occasion of ‘Diwali Balipratipada’.

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According to stock exchange data, foreign institutional
investors (FIIs) net bought shares worth Rs 438.89 crore on Friday, while
domestic institutional investors sold to the tune of Rs 119.08 crore.