Samvat 2078: D-Street gears up for new year after record run

NEW DELHI: Samvat 2077 has been a glorious one for domestic indices with both the BSE sensex and the NSE Nifty scaling new lifetime highs.
The BSE index had a terrific journey since last November — beginning of Samvat 2077 — where it rallied from 43,000-mark to over 62,000 level.
The broader NSE Nifty also scaled multiple highs in the last 1 year as it skyrocketed from 12,700-mark to breach the 18,000-mark.
There is increasing optimism among investors as the new Samvat 2078 begins from November 4.

What is Samvat 2078
Every year on the occasion of Diwali, equity indices conduct a symbolic one-hour trading session known as ‘muhurat trading‘.
Worshipping account books and cash registers on this day is considered to be an auspicious practice by businessmen.
The session marks the beginning of a new Hindu calendar year — this year it will be Vikram Samvat 2078.
The Bombay Stock Exchange (BSE) has been organising this since 1957 whereas, the National Stock Exchange (NSE) started it in 1992.
When is it conducted
Muhurat trading session is held at the most auspicious hour of the day on Diwali.
It is a popular belief that trades executed during this time brings prosperity and wealth throughout the year.
This year, the pre-opening session will be held from 6 pm to 6.08 pm on November 4. While, the one-hour live trading session will start from 6.15 pm to 7.15 pm.
“On account of trading on November 4, the pay in/pay out transactions for the
the trade date November 3 and November 4 shall be settled on November 8 at 8.30 am, the NSE said in an official release.
Samvat 2077: Best in 12 years
The 30-share BSE index started Samvat 2077 at a record high of 43,638 on November 14 last year.
Since then the index has jumped over 16,000 points or nearly 37 per cent. It also breached the all important psychological level of 62,000 in October.

The broader NSE Nifty also surged 5,049 points or nearly 40 per cent during the past one year.
Both sensex and Nifty witnessed their best Samvat in 12 years. It had gained 92 per cent in Samvat 2065 (calendar year 2009).

The historical run experienced by the markets is also significant as they were it kept investors optimistic about recovery from pandemic lows.
After plunging to record lows in wake of the Covid-19 pandemic in March 2020, both sensex and Nifty observed sharp recovery. Both the indices scaled closing as well as intra-day highs.
This can be largely attributed to rapid pace of vaccinating the masses against Covid, containment of Covid cases, liquidity measures undertaken by RBI, recovery in economic as well as industrial activities.
M-cap soared nearly Rs 100 lakh crore
The market capitalisation of BSE listed companies also witnessed a whopping 56 per cent jump in the last 1 year.

With m-cap around $3.6 trillion, India is now the 6th largest market in the world in terms of value.
The year was also good one for investors who gained over Rs 90 lakh crore in Samvat 2077.

Smaller stocks gave higher returns
Smaller stocks have continued to give higher returns to equity investors so far this fiscal, significantly outperforming bigger peers on indices.
In Samvat 2077, the BSE smallcap index zoomed 12,873.49 points or 82.31 per cent, while midcap index had jumped 5,096.41 points or 25.25 per in 2021.

The BSE midcap index reached its record high of 27,246.34 on October 19 and the smallcap hit its all-time peak of 30,416.82 the same day.

In all, the smallcap index has surged almost 83 per cent during the last one year, while the midcap index has jumped about 62.5 per cent.
Most active stocks
Reliance, Tata Power, Adani Enterprises, Tata Motors are some of the stocks that remained pretty active throughout the last year.
RIL and Tata Steel were the major contributors to the surge in BSE index, followed by IT majors TCS and Infosys.
In addition, Bajaj Finserv gained 139 per cent, SBI jumped 130 per cent on strong buying in banking and financial services stocks.

On the NSE, Nifty Metal has given the most returns in the last one year, followed by PSU Banks, Realty and Consumer Durables.
IPO frenzy
The trend started by food delivery platform Zomato has been very well carried forward by subsequent stocks who made their debut on the bourses.
Companies have incurred the highest amount ever via IPO proceeds.
Since January nearly 72 IPOs have hit the markets.
The S&P BSE IPO index is at its all-time high and has also given returns worth 103.12 per cent to investors in the year so far.
Technology startup companies have led the way till now, raising nearly $8.8 billion.
A stellar list of companies including Paytm, LIC are waiting in line to make their market debut in the coming months.
FPI inflows
Even though domestic indices are witnessing some volatility, foreign portfolio investors (FPIs) have been pretty bullish on Indian markets.
Since the last Samvat, net FPI inflows have been around Rs 2.13 lakh crore.