Mumbai: Indian stock markets ended marginally lower during Sunday's special Diwali Muhurat trading session, snapping a seven-day winning streak as investors booked profits following a sharp rally.
The session marked the beginning of Samvat 2083, the new Hindu financial year, with benchmark indices surrendering early gains despite positive opening momentum.
Sensex, Nifty Slip
The BSE Sensex declined 28.62 points, or 0.04 per cent, to close at 80,999.40. Earlier, the index had climbed 414.09 points to touch 81,442.11.
Similarly, the NSE Nifty slipped 43.95 points, or 0.18 per cent, to settle at 24,986.40, falling below the psychological 25,000 mark.
Among Sensex stocks, Mahindra & Mahindra, IndiGo, Trent, Infosys and Bharti Airtel witnessed selling pressure. Sun Pharma, Tata Steel, Maruti Suzuki and Power Grid supported the market.
Investors Gain Wealth
Despite benchmark indices closing lower, investor wealth increased by Rs 2.60 lakh crore, taking the total market capitalisation of BSE-listed companies to Rs 505.68 lakh crore.
Broader markets outperformed, with the BSE SmallCap Select index rising 1.18 per cent and MidCap Select gaining 0.22 per cent.
Healthcare, industrials and capital goods stocks attracted buying interest, while realty, banking and IT counters faced pressure.
Seven-Day Rally Ends
Before Sunday's session, the Sensex had surged 7,781.99 points, or 10.62 per cent, over seven consecutive trading sessions. The Nifty gained 2,331.5 points, or 10.27 percent.
On Friday alone, the Sensex jumped 1,718 points, while the Nifty advanced nearly 494 points.
Foreign institutional investors also purchased equities worth ₹13,749.82 crore on Friday.
Samvat 2083 Outlook
Motilal Oswal's Raamdeo Agrawal expects attractive valuations, stronger earnings and returning foreign investors to support equities.
However, analysts believe corporate earnings, crude oil prices, global developments and foreign fund flows will determine market direction during the new Samvat year.
