Diwali Muhurat Trading on November 8, 2026, ended with the Sensex and Nifty lower after an early rally. The Nifty 50 opened at 25,070.45 points and reached a high of 25,071.05 points before closing down. Experts noted that while broader markets did better, the indices lost their gains as the session went on.
Key Details
HDFC Bank shares dropped 0.32% to ₹784.50 during the trading session, reversing earlier gains. Despite a 13.32% rise in the past week, the stock is still down 20.82% for the year. The Nifty Bank index also fell 0.27%, with declines in other major banks like Federal Bank and ICICI Bank. HDFC Bank's market capitalisation was ₹12,10,672.68 crore, with intraday fluctuations between ₹795 and ₹783.20.
Market analysts showed cautious optimism about the potential for a sustained rally in Samvat 2083. They cited improving earnings and foreign inflows as supportive factors. However, they stressed the need for stronger catalysts to confirm a new bull market. The Relative Strength Index (RSI) is nearing overbought territory, suggesting a possible consolidation phase ahead.
The declines in the Nifty and Sensex could signal caution among investors. This is especially true in the banking sector, where HDFC Bank's performance may affect broader market sentiment. The recent volatility in bank stocks could lead to more scrutiny of financials in upcoming trading sessions.
Background
Watch for upcoming earnings reports from major banks. These could provide further insights into market direction.
Related coverage: Nifty 50 Surpasses 25,000 Amid Diwali Rally, Eyes 25,500.
Based on reporting by: moneycontrol.com, livemint.com