NSE, BSE closed tomorrow- holiday; 11 04-Nov-2013 Monday Diwali-Balipratipada

11	04-Nov-2013	Monday	Diwali-Balipratipada
12	14-Nov-2013	Thursday	Moharram
13	25-Dec-2013	Wednesday	Christmas

Sensex hits record high in Muhurat trading

Sensex hits new record of 21,321.53, up 124.72 points in the special Muhurat session being held on Sunday to mark the start of Samvat year 2070. The rally was well supported by heavyweights such as ITC, Reliance Ind, Tata Motors, Sun Pharma, TCS and ONGC.

On the NSE, the Nifty rose to 6,325.75, up by 18.60 points.

Among the top gainers today, Indian Bank gained 5.79% to Rs 98.60, United Breweries up 5.14% at Rs 937.95, Container Corporation up 3.68% at Rs 787.95, Cummins India up 2.97% at Rs 411.10 and Aurobindo Pharma gained 2.83% at Rs 236.40.

Mkt away from real highs; no bubble seen: Jhunjhunwala

Sensex hitting a new high of 21,294 came as a surprise, but there was no doubt in Rakesh Jhunjhunwala's mind that the market's direction was skyward. Jhunjhunwala, who owns Rare Enterprise, is slightly reluctant to call Sensex's milestone a "new high" because of the stark absence of retail investors. He also frowns at the brouhaha over FII buying because, according to him, it has been constant. However, the ace investor believes the market is headed north.

A couple of  months back when the rupee was making a new low everyday despite efforts by government and central banking authorities, even the superbull Jhunjhunwala was frightened.

But now his outlook for the market is brighter. Despite low participation from across-the-spectrum players,  JhunJhunwala is relaxed because "the market is safe to the extent that there is no bubble."

Below is an edited transcript of Jhunjhunwala’s exclusive interview on CNBC-TV18

Q: Would you say that you are pleasantly surprised at the way the market has taken off the last couple of months? Would you have thought, even two-three months back, that we would be trading at all time highs by Diwali?

A: I don't know whether I thought we will make a new high or not but I certainly thought that the market, the way when the rupee went to 69-70 against the dollar, all of us, including Rakesh Jhunjhunwala, had a fright. And the way the market bounced back, it took all of us by surprise. Then seeing the price movement, I was only very bullish from a level of 5,300-5,350.

In the last seven-eight days, the movement of the market clearly indicated that it is move is going to be upwards because it rose from 5,200-6,200, it gave a very poor correction to 6,070-6,080 and then again it took off. So I will not say that I knew about it two-three months back that we are going to have a new high. But I surely thought the path was upward and the way the index behaved, the last seven-eight days gave me a feeling that we are going to go higher.

Special Muhurat Live Trading Session - Sunday November 3rd 2013 -6:00 pm to 7:30 pm.

Special Muhurat Trading Session Special Muhurat Live Trading Session shall be held onSunday November 3rd 2013 on account of Muhurat Trading on Diwali from 6:00 pm to 7:30 pm.

What we can do to save more :: Business Line

Give an auto-debit instruction to your bank account to compulsorily push your money into investments.

Saving is the first step towards accumulating wealth for the future. But spending comes most naturally to us. Marketing strategies that the modern-day supermarkets employ only prompt us to consume more. Why do we face difficulty in saving and what can we do about it?

If you are like most others, you are already saving some proportion of your monthly income. But you are most likely unhappy with the amount. Despite the increase in your monthly income, you have been unable to substantially increase your savings. Why?

To answer this question, we turn to eating. Delaying gratification does not come naturally to us because of lack of self control. That is why we devour junk food every year. We enjoy the food today without considering the health-related issues that we will have to face in later years.

In financial parlance, we perceive the present value of benefits from eating junk food to be much more than the present value of the health-care costs due to eating such food.

EMOTION WINS