Mumbai: Indian equity benchmark indices opened in positive territory during the special Muhurat Trading session on Sunday, marking the beginning of the Hindu calendar year Samvat 2083 on a bullish note.
At the opening bell at 2:20 pm, the Sensex gained around 250 points, while the Nifty advanced nearly 40 points.
The special 70-minute trading window is scheduled from 2:20 pm to 3:30 pm. The Multi Commodity Exchange (MCX) is also observing the same trading hours.
Muhurat Trading is a long-standing tradition in the Indian stock market, with investors considering the occasion auspicious for making fresh investments. It is widely believed that purchasing stocks during the special session at the beginning of the Hindu calendar year brings prosperity and positive returns in the year ahead.
The markets entered Samvat 2083 amid renewed optimism after recording their strongest weekly gains in nearly six years. The Nifty surged more than 8 per cent over the preceding week, while both the Sensex and Nifty extended their winning streak to seven consecutive trading sessions.
“From a market perspective, we believe the outlook for the coming Samvat remains constructive, albeit with expectations of moderate and more selective returns,” market experts stated. “Earnings growth, rather than valuation expansion, is likely to be the primary driver of market performance going forward,” analysts added.
“As we step into the new Samvat, our view is that India remains well-positioned to deliver sustainable long-term growth. The focus should remain on quality, earnings resilience and prudent investing. We wish investors a prosperous Samvat filled with wealth creation and financial success,” market experts noted.
Muhurat trading is a special truncated session on the occasion of Diwali. Coinciding with Lakshmi Puja, it is considered auspicious and prosperous and marks the beginning of the Vikram Samvat, or the Hindu financial year.
(IANS)
