Sensex and Nifty close to record highs; Hero Moto, Bajaj Auto, and Airtel lead

Muhurat Trading is a special one-hour trading session that investors can take part in on the festive day of Diwali. During the special trading session, only one hour is spent conducting business on the BSE and NSE. The market assets that investors can buy and sell include stocks, futures, options, and other assets.

Hyundai Motor India Ltd. is set to hit the bourses with its IPO on Oct. 15. The Creta-maker is looking to raise Rs 27,870 crore making it the biggest IPO in India, surpassing Life Insurance Corp. of India’s Rs 21,000-crore IPO in 2022. This will be the largest IPO globally in 2024 so far and also make it the first automaker to list in India in over two decades.

Chinese stock markets saw significant gains, with the CSI300 hitting two-year highs and the Shanghai Composite rising to its best levels since December 2021. Investors are optimistic about aggressive stimulus measures, though some urge caution given the current substantial market gains.

Rising geopolitical tensions in the Middle East stoked worries of a full-scale Iran-Israeli war, and as a result, the Indian stock market collapsed, with the Sensex and Nifty 50 opening more than a percent lower amid poor global cues.

SEBI New Asset Class: To encourage high-net-worth investors to engage in riskier regulated products, the market regulator Sebi established a new asset class. A minimum of Rs 10 lakh will be invested. The goal of this new course, “Investment Strategies,” is to broaden the scope of the investing environment. The Mutual Funds Lite framework for passively managed schemes was also unveiled by Sebi.

NSE will alter its charge schedule as of October 1. For both purchasing and selling in the cash segment, there would be a fee of Rs 2.97 for each Rs 1 lakh of trade value. In addition, there will be an increase in STT and new share buyback guidelines.