Sensex and Nifty end Muhurat trading in red for first time since 2017
The special Diwali trading session marking the start of Samvat 2083 saw both major indices close lower, breaking an eight-year winning streak.
The BSE Sensex and NSE Nifty 50 ended the special Muhurat trading session in the red on Sunday, November 8, marking the start of Samvat 2083. According to reports from Times of India and Mint, this was the first time since 2017 that both indices closed lower during the auspicious Diwali trading hour.
The 30-share Sensex settled at 80,999 points, down 29 points, after opening higher at 81,299 points and touching a high of 81,442 points. The Nifty 50 closed lower at 24,986 points, according to Times of India, while Mint reported the Nifty settled at 25,023.70, down 6.65 points.
While the leading indices declined, broader markets showed gains. The BSE midcap index closed 0.5 per cent higher, and the smallcap index rose 1.5 per cent, according to Times of India. Mint reported the Nifty Midcap index ended 0.13 per cent higher and the Nifty Smallcap index gained 1 per cent.
Enrich Money CEO Ponmudi R said the modest consolidation appeared to reflect natural profit-booking following a seven-session rally that added over 10 per cent to the indices. He noted that rallies of such magnitude rarely sustain momentum indefinitely without a period of consolidation.
The session followed the tradition of Lakshmi Puja at the bourse, where market players participate in symbolic trades to mark the new Hindu calendar year. The aggregate market capitalisation of companies listed on the BSE reached an all-time high of Rs 506 lakh crore, according to exchange data.