Dalal Street ushered in Samvat 2083 with lights, diyas and green ticks. In a special Diwali Muhurat Trading session on Sunday, benchmark indices opened higher and extended their winning streak to eight consecutive sessions, the first such run in three years, as traders made auspicious first bets for the new Hindu financial year.
Markets Open Higher For Samvat 2083
The one-hour symbolic session, held every year on Diwali Laxmi Pujan to mark beginning of Vikram Samvat, saw bulls retain control despite thin volumes and global caution.
At opening bell, Sensex opened 271.32 points or 0.33% higher at 81,299.34 versus previous close of 81,028.02, while Nifty 50 opened at 25,070.45, gaining 40.10 points or 0.16% versus previous close of 25,030.35.
Momentum accelerated within minutes:
The 30-share Sensex pack was up 321.29 points or 0.40% to trade at 81,349.31, while Nifty climbed 73.15 points or 0.29% to 25,103.50. At 2:22 PM it was up 394 points or 0.49% at 81,422.51, while Nifty gained nearly 95 points to 25,125.25. The Sensex surged 401.80 points to 81,406 and Nifty to 25,109.40. Intraday high touched 81,442.11, up 414 points or 0.50% on Sensex, and 25,131.85, up 101 points or 0.40% on Nifty.
It was a broad-based Diwali cheer. Broader market outperformed benchmarks, with Nifty Midcap 100 and Smallcap 100 rising 0.30% and 0.85% respectively, indicating retail participation in the auspicious session.
Top Gainers In Muhurat Session
Old economy metals and energy led.
Tata Steel Ltd, Sun Pharmaceutical Industries Ltd, BSE Ltd, Tata Motors Passenger Vehicles Ltd and UltraTech Cement were among top gainers on Nifty, rising up to 4.68%. Tata Steel up 2.5% to 4.68%, Sun Pharma up 1.7%, Hindalco up 1%, Tata Motors PV up 0.7%, Adani Ports up 0.5%, Maruti Suzuki India up 0.6%, ONGC up 0.8%. Tata Steel, Sun Pharmaceutical, Maruti, Adani Ports and BEL were top gainers on Sensex at this hour.
The gains extended Friday’s Dhamaka.
Where We Came From – Biggest Weekly Gain In Six Years
Friday was already a Diwali blast.
The BSE Sensex surged 1,718.01 points or 2.17% to close at 81,028.02, reclaiming 80,000 mark. The NSE Nifty advanced 493.75 points or 2.01% to settle at 25,030.35, moving back above 25,000 level for first time since February 27, 2026. It was best closing since start of West Asia conflict and strongest closing in nine months.
For the week, Sensex and Nifty rallied around 8-9% each, marking biggest weekly gains in six years. Nifty surged 8.58% during week. Combined market capitalisation of BSE-listed companies rose from Rs 475.34 lakh crore to around Rs 503 lakh crore – Rs 28 lakh crore wealth added in a single week. Earlier on Thursday alone, investors had added nearly Rs 8 lakh crore in a day.
The winning run now stands at eight consecutive sessions, with Nifty rallying 7.6% or 1,743 points in last six sessions alone from 22,698.85 on Oct 28 to 24,442 one-month high on Nov 5, and Sensex gaining 7.8% or 5,755 points from 73,246.03 Oct 28 to 79,001.19.
FII Flow Reversal – Rs 38,971 Crore In November
A big reason behind turnaround was return of foreign money.
NSDL data showed FIIs have invested Rs 38,971 crore in Indian equity market since beginning of November 2026, reversing two-month selling streak, as global AI trade reversal steered global investors away from expensive tech and AI stocks in developed markets.
Sustained inflows: Rs 14,974.68 crore on Thursday, Rs 7,284 crore on Wednesday, highest single-day purchase since October 28, 2025, Rs 6,837 crore on Tuesday, Rs 3,114.68 crore on Monday. Three-day heavy buying powered rally.
Domestic flows and rupee also helped. Rupee surges 52 points to close at 93.89 against US dollar on Friday, after ending 10 paise higher at 94.64 Wednesday versus 94.74, helped by oil crash and FII inflows. Bank Nifty surged 8.04% last week to close at 59,086.
Business Beat – Earnings Support Samvat Start
Q2 earnings continued to support festive sentiment.
Bharti Airtel reported 31% YoY rise in consolidated net profit at Rs 8,887 crore versus Rs 6,791.6 crore, revenue up 16.7% to Rs 60,878 crore, ARPU rising to Rs 271 from Rs 264, widening lead over Reliance Jio whose ARPU is Rs 218.8. India mobile base 377.2 million, postpaid adds 1.2 million to 31.2 million.
Titan Company profit more than doubled to Rs 2,393 crore, revenue Rs 20,614 crore up 10%. ONGC profit jumped 57.3% to Rs 15,488.6 crore, revenue up 32.8% to Rs 43,875.2 crore. Britannia revenue up 15.6% to Rs 5,597.8 crore, profit up 10.2% to Rs 721 crore. LIC profit up 20% to Rs 12,076 crore, VNB margin improving to 22.3%. Mahindra & Mahindra standalone PAT up 13% to Rs 5,101.62 crore, revenue up 27% to Rs 42,477 crore. BSE Ltd profit up 44.9% to Rs 809.15 crore, revenue up 34.1% to Rs 1,432.7 crore. Lenskart profit up 122% to Rs 227.1 crore, Nykaa profit up 206% to Rs 101.2 crore.
These earnings, along with soft crude, formed the foundation for Muhurat optimism.
Geopolitics – Oil Roller-Coaster From $118 To $94 To $100
Crude oil was the macro swing factor that defined Samvat 2082 end.
Brent had traded as high as $118 a barrel in October, highest in six months, on fears of escalation after US strikes on Iran’s Qeshm Island at mouth of Strait of Hormuz and attacks on commercial vessels.
Then it crashed: Brent slid 8.47% to $94.83 Thursday, settled $8.98 or 8.7% lower at $94.62 a barrel Wednesday, WTI fell $7.97 or 8.3% to $88.12, both benchmarks closed at lowest since August 31, retreating more than 15% in week. This was biggest weekly drop since April 2020 when US crude briefly fell into negative territory, and biggest absolute drop since 1988.
Reason: US midterm elections in which Democratic Party took control of House and Senate, throwing President Trump’s agenda into uncertainty and raising bets of end to US-Israeli war with Iran. Trump acknowledged Iran war played role in party’s sweeping defeat, told Financial Times US had no immediate plans to strike Iran, while Vice President JD Vance wrote on X that reason we lost is the war. Average US gasoline price stood at $4.12 per gallon, 39% higher than before war began February 28. Crude inventories fell 865,000 barrels to 409.8 million barrels in week ended October 30 per EIA versus expectation of 877,000-barrel rise. Gulf exports averaged 17.1 million bpd in October versus 18.9 million bpd in September, still three-quarters of pre-war levels.
Friday rebound: Brent jumped $3.67 to $98.29 or 3.88%, WTI to $91.07, Brent reclaiming $100 mark at $100.3 up 2%, WTI $91.8 up 1.5% after fresh tanker attacks, but still set for 12-16% weekly decline.
For India, which imports 87% of oil, fall from $118 to $94 was biggest trigger for rally.
Samvat 2083 Outlook – 25,350 To 26,000 In Sight?
Market experts expect bullish momentum to continue after breakout above 25,000.
Nifty outlook: Enrich Money expects bullish momentum to continue, immediate resistance at 25,150-25,200, followed by 25,500, sustained move above could open path towards 25,800-26,000, support at 24,800-24,600. Choice Broking sees resistance at 25,350 and 25,800, support at 24,000-24,400. Religare Broking expects extension towards 25,200-25,600, support base at 24,200-24,500.
Bank Nifty: Surges 8.04% last week to 59,086, resistance at 59,200-59,400, then 60,000-60,200, support at 58,600-58,000. Move towards 59,700-60,200 expected.
Stock picks for Samvat 2083: HDFC Securities favors BPCL, HCL Technologies, IIFL Finance, JSW Steel, Satin Creditcare, and Zensar Technologies, projecting potential upsides of up to 28%. Religare favours BFSI, pharmaceuticals, realty and services. Enrich Money prefers quality large-cap banking, financial services and consumption.
