The Bombay stock Exchange (BSE) and the National Stock Exchange (NSE) will conduct muhurat trading session on account of Diwali on 11 November, 2015, even as sentiments are rather subdued among investors and traders after the Bihar Assembly election results.
The special trading session will be conducted between 5.45 pm and 6.45 pm on Wednesday, heralding Samvat 2072.
With the 30-scrip S&P BSE Sensex falling to a six-week low on Tuesday to close at 25,743 on the last trading day of Samvat 2071 and sentiments not so gungho among investors after the BJP-led NDA suffered a crushing defeat at the hands of the Grand Alliance, one can expect a muted mahurat trading on Wednesday.
The markets ended Samvat 2071 with a net loss, with the S&P BSE Sensex shedding 1,043 points, or 3.90% and the NSE Nifty falling by 212 points, or 2.70%.
Yet, some analysts and investors are optimistic about Samvat 2072, saying there won't be an encore of Samvat 2071.
Ace investor Rakesh Jhunjhunwala believes Samvat 2072 is going to be better than last year. "The market has corrected, time has passed, expectations have moderated and the flow of local money is progressing very well. Slowly but surely the economy is on an uptick. So, with expectations bellied and commitments reduced, with domestic money coming, economy on upswing we are at a bottom," Rakesh Jhunjhunwala told CNBC-TV18, reports www.moneycontrol.com.
Brokerages have their own recommendations for Samvat 2072, with Bangalore-based Infosys being seen by many brokerages as worth-buying. The stock closed at Rs 1,106.40 on the BSE on Tuesday.
Prabhudas Lilladher has a buy rating on the stock with a target of Rs 1,440 per share, while Motilal Oswal's target price is Rs 1,250, justifying the recommendation on the basis of the company's performance in the first two quarters of 2015-16 and sustained improvement in performance in the full year.
Other stocks that are being seen as winners are HDFC Bank (target price of Rs 1,350, Tuesday's closing price Rs 1,054) by Motilal Oswal, though Prabhudas Lilladher's target for the stock is Rs 1,200.
The exchanges will remain closed on Thursday, 12 November, 2015, for Diwali Balipratipada holiday.