Indian equity markets closed marginally lower during the special Diwali Muhurat trading session on Sunday, ending a seven-session winning streak for benchmark indices, the BSE Sensex and NSE Nifty. Mild profit-booking by investors weighed on market sentiment despite a positive opening.
The special trading session, organised to mark the beginning of the Hindu calendar year Samvat 2083, witnessed early gains. However, the benchmarks failed to sustain their upward momentum and eventually ended in negative territory.
The 30-share BSE Sensex declined 28.62 points, or 0.04 per cent, to settle at 80,999.40. During the session, the index had climbed to an intraday high of 81,442.11, gaining 414.09 points, or 0.51 per cent. Of the Sensex’s 30 constituent stocks, 16 closed higher, while 14 ended lower.
Similarly, the NSE Nifty 50 slipped 43.95 points, or 0.18 per cent, to close at 24,986.40, reversing its initial gains.
Mahindra & Mahindra, InterGlobe Aviation Among Top Losers
Among Sensex constituents, Mahindra & Mahindra, InterGlobe Aviation, Trent, Infosys, Bharti Airtel and Axis Bank were among the major laggards.
On the other hand, Sun Pharmaceutical Industries, Tata Steel, Maruti Suzuki and Power Grid Corporation were among the notable gainers, providing some support to the broader market.
What Is Muhurat Trading?
Muhurat trading is a special, symbolic stock market session conducted annually on Diwali to mark the beginning of the new Hindu financial calendar year. The term ‘Muhurat’ refers to an auspicious period, and participation in the session is traditionally associated with hopes of prosperity, wealth and financial success.
Unlike regular market sessions, which generally operate from 9:15 AM to 3:30 PM, Muhurat trading is conducted for a shorter, designated period.
Markets Recover Strongly Before Samvat 2083
The marginal decline during the Diwali session followed a strong rally in the preceding seven trading sessions. During this period, the Sensex gained 7,781.99 points, or 10.62 per cent, while the Nifty advanced 2,331.5 points, or 10.27 per cent.
The final trading session of Samvat 2082, held on Friday, also witnessed a significant rally. The Sensex surged 1,718.01 points, or 2.17 per cent, to close at its day’s high of 81,028.02. Meanwhile, the Nifty climbed 493.75 points, or 2.01 per cent, finishing at 25,030.35.
Sensex and Nifty End Samvat 2082 in the Red
Despite the strong recovery towards the end of the year, the overall performance of the Indian equity market remained negative during Samvat 2082.
The BSE Sensex declined by 3,398.32 points, or approximately 4 per cent, over the Hindu calendar year. Similarly, the NSE Nifty registered a fall of 838.25 points, or 3.24 per cent.
The latest Muhurat trading session reflected cautious investor sentiment, with profit-booking emerging after the sharp gains recorded in the preceding sessions as markets entered Samvat 2083.
