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Mahurat Trading: Nifty breaches 8000, Sensex firm on Diwali

The market starts auspicious Mahurat trading session with smart gains. It also marks the beginning of Samavat 2071. The Nifty opened at 8029 up 21 points while the Sensex is up 68.91 points at 26856.14.

Updated:October 23, 2014, 6:48 PM IST
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Mahurat Trading: Nifty breaches 8000, Sensex firm on Diwali
The market starts auspicious Mahurat trading session with smart gains. It also marks the beginning of Samavat 2071. The Nifty opened at 8029 up 21 points while the Sensex is up 68.91 points at 26856.14.

Mumbai: The market starts auspicious Mahurat trading session with smart gains. It also marks the beginning of Samavat 2071. The Nifty opened at 8029 up 21 points while the Sensex is up 68.91 points at 26856.14.

US stocks erased earlier gains to close lower on Wednesday as a shooting at the Canadian parliament unnerved investors, Boeing and Biogen sold off following results, and energy stocks fell along with oil prices. Indexes had traded in positive territory for much of the session, putting the S&P 500 on track for a fifth straight day of gains.

Earnings initially drove the move higher, with technology and material shares up on the back of strong results. Market benchmarks began drifting lower after the government reported a surprise increase in crude oil inventories.

Energy shares were off 1.7 per cent as crude oil CLc1 fell, settling near USD 80 per barrel. Asian shares sagged on Thursday after a retreat on Wall Street and falling crude oil prices revived investor concerns over slowing global growth, as markets nervously waited for Chinese and European manufacturing reports later in the day.

Japan's Nikkei share average fell 0.8 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.27 per cent.

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