Stock Market Today:
The National Stock Exchange of India (NSE) and the BSE will remain closed on November 5 on account of Diwali Balipratipada.
Wholesale commodity markets, including metal and bullion, will also remain shut. There will be no trading activity in the forex and commodity futures markets either.
The market had a strong start for Samvat 2078 as the benchmark indices gained half a percent on November 4, the Diwali Muhurat Trading Day 2021, driven by buying across sectors (barring metals).
On November 4, the Sensex was up 295.70 points, or 0.49 percent, at 60,067.62 and the Nifty was up 87.60 points, or 0.49 percent, at 17,916.80.
Mahindra & Mahindra and ITC were leaders in the BSE Sensex, gaining 3.1 percent and 2.1 percent, respectively. Bajaj Auto, L&T, Kotak Mahindra Bank, Nestle India and Sun Pharma gained 1-1.65 percent.
However, ICICI Bank, Asian Paints, UltraTech Cement and Dr Reddy’s Labs were only losers, closing with moderate losses.
All other sectoral indices ended in the green with Auto, PSU Bank, and capital goods indices rose 1 percent each.
The broader markets outpaced frontline indices. The BSE Midcap index jumped 0.73 percent and Smallcap index gained 1.3 percent.
The Nifty50 formed bearish candle which resembles a bit of Doji kind of pattern formation on the daily charts, indicating some indecisiveness among the bulls and the bears, said Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One.
Bank Nifty also formed bearish candle on the daily charts as the closing was lower than opening levels. The index was up 171.65 points at 39,573.70, he added.
