SENSEX, NIFTY RECORD NEW HIGHS
The first trading session of Samvat 2070
year concluded on a positive note today with the BSE Sensex and the NSE
Nifty settling at new all-time closing high of 21,239.36 and 6,317.35
respectively. The Sensex, which had surged 626.53 in past four
sessions, advanced further by 42.55 points, or 0.20 to an all-time
closing high of 21,239.36. The gauge hit an intra-day high of 21,321.53
on selective buying, amid renewed optimism on the economic front. The
index had climbed to an all-time high of 21,293.88 in intra-day trade on
November 1 and closed at 21,196.81. The Sensex gained 13.5 per cent in
Samvat 2069 year.
On similar lines, the broad-based National Stock
Exchange index Nifty rose by 10.15 points, or 0.16 to end at 6,317.35,
after hitting a intra-day high of 6,342.95. Its previous record close of
6,312.45 was hit on November 5, 2010. The Nifty had registered its
all-time intra-day high of 6,357.10 on January 8, 2008. The rally in
the Muhurat session was led by stocks of healthcare, auto, metal and
fast moving consumer goods. 22 stocks of the 30-share Sensex pack ended
higher today. Initial gains were minimised as some investors booked
profits to write their first entry with gains on the first special
Muhurat session of Hindu Samvat 2070 year, said brokers. Investors and
funds were seen in a cheerful mood and picking front-runner shares as
well as midcap stocks to mark the begining of their new accounts, they
added. Stock markets will remain closed tomorrow on account of
'Balipratipada' and resume regular trading on Tuesday (November 5).
CSE MISS MURAT TRADING
The Calcutta Stock Exchange (CSE) today
missed its Muhurat trading for the first time in its 105-year-old
history due to regulatory hurdles. However, the bourse officials held
puja on the occasion and Muhurat trading for its members on NSE and BSE
platforms. "SEBI approval is still awaited for clearing activity with
Indian Clearing Corporation Ltd. Trading will resume when the approval
comes and we are hopeful," CSE managing director and CEO B Madhav Reddy
told PTI. "This is the first time since 1908, since the exchange was
incepted that there was no muhurat trading. We had not missed muhurat of
our own trading platform despite extreme odds," CSE employees union
president Gulab D Dubey said. Trading at the bourse has remained closed
since April 4 after the market regulator asked CSE to stop its own
clearing and settlement of trades executed on C—Star unless compliant.
CSE soon tied up with BSE's ICCL to carry out the settlement due to high
capital requirement, but SEBI is yet to approve the same. "We
understand this is due to additional guarantee ... When a regional
exchange is trying to revive why is SEBI not supporting it - we are
unable to understand it," Dubey said. The union, he said, may approach
state Chief Minister Mamata Banerjee, if needed as Trinamool Congress
election manifesto also promised revival of CSE. CSE is the only
regional bourse in the country compliant with regulations and was trying
to attract small companies of other regional exchanges to get listed in
it as a cost effective solution compared to other national exchanges,
its officials said. Trading on BSE and NSE platforms through CSE gets
an average volume of around Rs 40 crore, they added.
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