Top 5 Stocks Buy List: Sensex Slips 0.04% in Diwali Muhurat Trading
India's Sensex fell 0.04% and the Nifty 50 lost 0.18% in the Diwali Muhurat Trading session on November 8, 2026. Bajaj Broking's Pabitro Mukherjee named five monthly technical picks and urged caution after a sharp rally on Dalal Street.
India's BSE Sensex edged down 0.04% in the ceremonial Muhurat Trading session on Diwali, November 8, 2026, and Bajaj Broking named its top 5 stocks buy list for November the same day. Benchmarks opened higher but gave up their early gains by the close.
The special session followed a strong rally over seven straight sessions. It ended in the red and snapped an eight-year winning streak.
How the indexes closed
The Nifty 50 index lost 0.18%. The Bank Nifty index, which tracks bank shares, fell 0.40%.
Divi's Lab, Tata Steel, Vedanta Aluminium and Metal, CG Power, Sun Pharma and Tata Motors PV were among the top gainers. SBI Life, Tata Capital, IndiGo, DLF, BPCL and Infosys were the top losers.
Shares of Safe Enterprises Retail, Hindusthan Insulators, Finolex Cables, Banco Products India, Dhunseri Ventures and Supriya Lifesciences were among the volume shockers. That label marks stocks that traded far more shares than usual.
Many stocks reached new 52-week highs. They included ICICI Bank, Adani Ports, TVS Motor Company, Kotak Mahindra Bank, Eternal, Indian Hotels Company, Aurobindo Pharma, Ather Energy, Piramal Pharma, MCX, Shyam Metalics, JSW Steel, South Indian Bank, Marico, Divi's Lab, Navin Fluorine and MOFSL.
Analyst urges caution
Pabitro Mukherjee, Deputy Vice President of Technical Research at Bajaj Broking, said the Nifty 50 moved above its 52-week EMA last week. EMA is a moving-average price line that gives more weight to recent prices.
He said a trendline joining the February and August 2026 highs now sits above the August 2026 high of 24,774. He advised investors to stay careful.
"The Nifty 50 index has seen a strong up move of more than 2500 points in the last 10 sessions," Mukherjee said. "Hence, some consolidation cannot be ruled out at higher levels; stock-specific action will continue to remain in focus."
The broker's five monthly picks
Mukherjee's five monthly technical picks for November are SBI, Swiggy, Adani Power, Lloyds Engineering and GE Vernova. Bajaj Broking attached its own entry ranges, price targets and stop-loss levels, with holding periods of 6 or 12 months.
Those are the broker's views, not facts about the stocks, and this article does not endorse them. The views belong to individual analysts or broking firms. Readers are advised to check with certified financial experts before making any investment decision.
What the market watches next
Mukherjee said market participants will closely monitor Brent crude prices and developments around US-Iran tensions in the coming week.
The Q2 FY27 earnings season will also stay in focus, he said. Corporate results and management commentary should offer insight into earnings momentum and the broader business outlook.
