As per the Historical data for the last five years post-Diwali, it reports that Bombay Stock Exchange’s Sensex index has risen one to four percent in the period following Diwali. The BSE Sensex rallied by over 45 post-Diwali in 2019, followed by over three percent gain in 2015.
However, high volatility is seen in the year 2020, because of Covid-19 crisis. The year 2020 has been seen a volatile one for the equity market. At the begenning of the year, equity benchmark indices recorded a high in January and then a Fifty two-week low in a matter of just two months in March. And now, it is just four percent away from reclaiming fresh record highs. The Indian market has recovered most of the losses after hitting a low in March. Both Sensex and Nifty have performed by over fifity percent since then, and are on the edge of breaking into unchartered territory if the momentum continues. Sensex is just 4 percent away from hitting a record high, placed at 42,273 compared to October 21's closing of Rs 40,707. Historical data of last five years suggests that Sensex rallied 0.2-6 percent in the run-up to Diwali, and the trend post-Diwali is much more firm.
Five-year historical data suggests that Sensex has risen 1to 4 percent in the period following Diwali. The Sensex rallied by more than 4 percent post-Diwali in 2019, followed by over 3 percent gain in 2015. If the impetus continues and both benchmarks - Sensex and Nifty - manage to hold on to their key support levels and could hit the magic number around Diwali.
Stock market starts strong today, Sensex rose by 290 points
Market opens with green mark on the last trading day of the week, Sensex crosses 40000 mark
Sensex rises 112 pts¸ Nifty near 11,900; IT stocks rise