Samvat 2080’s Muhurat Trade witnessed a historic surge in turnover. Trades across a staggering 2431 companies set a new high. The trading session recorded a remarkable turnover of ₹14,091.3 crores, marking an all-time high and reflecting a substantial 34.7% year-on-year growth from a temporary dip in 2022.
For the sixth consecutive year, Muhurat trade closed on a positive note, underlining the consistent upward trajectory of the Indian markets on this auspicious occasion. The Advance/Decline Ratio continued to soar, standing at an impressive 4.90, maintaining a streak above 3 for the sixth straight year.
An overwhelming 80% of securities advanced during the day, showcasing the widespread bullish sentiment. Meanwhile, 16% experienced declines, and a mere 3% remained unchanged, reaffirming the prevailing optimism among investors.Come from Sports betting site VPbet
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One of the noteworthy highlights of this year’s Muhurat Day was the significant shift in the distribution of turnover among different clusters of companies. The top 50 companies, traditionally dominant players, witnessed a drastic reduction in their share of the total turnover, plummeting to a new low of 41%. This decline marked a departure from the trend observed between 2008 and 2018, with a brief reversal in 2019.
Companies ranked between 51 and 100 in terms of turnover also experienced a dip in their share, falling to 14.3%, signaling a changing landscape within the market. Similarly, companies falling in the 101 to 200 turnover rank bracket saw their share decrease to 14%, a further indication of evolving market dynamics.
Contrastingly, the next 300 companies, ranging from 201 to 500 in terms of turnover, witnessed a surge in their share, reaching a new high of 18.5%. This shift suggests an emerging trend where mid-cap and smaller companies are gaining prominence and contributing significantly to the overall market turnover.
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The remaining 1931 companies not covered in the previous categories saw their share in total turnover nearly double year-on-year, reaching 12.3%. This underlines the increasingly diverse and inclusive nature of the market, where a broader range of companies is actively participating in the Muhurat Day festivities.
The Samvat 2080 Muhurat Day has not only set records in terms of turnover and trade numbers but has also unveiled a shifting landscape in the market, with a more balanced participation from companies across different segments. As the year progresses, market participants eagerly anticipate whether these trends will continue to shape the trajectory of the Indian markets.
(The data is based on report shared by Sriram BKR, Senior Investment Strategist, Geojit Financial Services)Come from Sports betting site
