Mumbai: Expectations of healthy quarterly results along with hopes of a sales boost from the ongoing festive season and low crude oil prices pushed the key Indian equity indices to open higher during the special "Muhurat" trade session on Sunday.
The special hour-long session held every year on Diwali day to mark the start of the Hindu New Financial Year saw the key equity indices -- S&P BSE Sensex and NSE Nifty50 -- make gains.
According to market observers, the special session to mark Samvat 2076 witnessed healthy buying in banks, automobile, capital goods and consumer durables stocks.
Just after the start of the trade around 6.15 p.m., the Nifty50 of the National Stock Exchange (NSE) gained 65.20 points or 0.56% to close to 11,649.10 points.
Similarly, the 30-scrip sensitive index (Sensex) made gains at the start of the trade session.
The S&P BSE Sensex, which opened at 39,397.37 points, closed at 39,225.50 points -- up 167.44 points or 0.43% from Friday's close of 39,058.06 points.
Brokers said buying activity gathered momentum as investors opened their books on the first session of Samvat 2076.
Major gainers in the Sensex pack were Tata Motors, Yes Bank, Infosys, Vedanta Ltd, ITC Ltd, Hero MotoCorp, HDFC Bank, Tata Steel and RIL, rallying up to 16.07%.
However, Bharti Airtel, TCS, HUL, Maruti and PowerGrid slipped up to 1.86%.
Meanwhile, foreign institutional investors (FIIs) net sold shares worth Rs 435.42 crore on Friday, while domestic institutional investors bought to the tune of Rs 440.16 crore, as per provisional data.
