Suryaa Business Desk: The special Muhurat trading session held on Sunday to mark the festival of Diwali concluded with mixed results. While indices began the new Hindu financial year, Samvat 2083, with significant gains, they slipped into minor losses by the close of the session. Profit booking in the banking and IT sectors impacted market sentiment.
At the start of the session, the BSE Sensex reached a high of 81,442 points, gaining approximately 414 points. The NSE Nifty reached an intraday high of 25,132 points. However, selling pressure toward the end of the session caused the Sensex to decline by 28.62 points, settling at 80,999.40. The Nifty fell by 43.95 points to close at 24,986.40, dipping below the 25,000 mark.
Shares of Mahindra & Mahindra, InterGlobe Aviation, Bharti Airtel, Infosys, and Axis Bank ended in the red. Conversely, stocks including Sun Pharma, Tata Steel, Maruti Suzuki, and Power Grid recorded gains. In the broader market, the Midcap 100 index rose by 0.13 percent, and the Smallcap index gained 0.94 percent.
Financial experts suggest that the trajectory of Indian stock markets in the new Samvat 2083 is expected to remain firm. Analysts noted that market performance will depend on the quarterly earnings growth of companies rather than valuation increases. They advised that India remains a favorable market for long-term investments and suggested that investors focus on quality stocks.