A cracker of a start to Samvat 2081: Indices climb nearly half a percent in Muhurat Trading Session
Mumbai: Samvat 2081 kicked off on a firm note as the country’s stock benchmarks gained nearly half a percent in Friday’s 60-minute Muhurat trading session, marking the start of the Hindu New Year.
The Sensex closed at 79,724, up 335 points or 0.42%, after advancing as much as 634 points. The Nifty ended 94 points or 0.39% higher to close at 24,299.55. The Nifty Midcap100 index rose 0.67% while the Nifty Smallcap 100 went up 0.87%. Of the 3,648 traded stocks on the BSE, 3,017 advanced, while 558 declined.
The local trader community actively participates in the Muhurat trading session, engaging in token transactions with an intent to take home profits. Making money in this hour is considered auspicious, setting the tone for the year to come.
Many brokers, traders and their family members were present at the customary Muhurat trading function held at the BSE’s Phiroze Jeejeebhoy Towers.
Investors must brace for sharp swings in the market and relatively modest returns in Samvat 2081 following the robust rally in Samvat 2080, said fund managers.
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