World · India Bureau
Sensex, Nifty End Lower in Muhurat Trading After Nine-Year Gap
Indian equity indices closed in negative territory during Diwali muhurat trading for the first time in nine years, marking an unusual reversal of the traditional auspicious session. The Sensex declined 28.62 points while the Nifty fell 43.95 points.
LSN India ·
The Indian stock market closed lower during this year's Diwali muhurat trading, ending a nine-year streak of positive closures during the ceremonial trading session. The Sensex slipped 28.62 points, or 0.04%, to settle at 80,999.40, while the broader Nifty index declined 43.95 points, or 0.18%, closing at 24,986.40.
Muhurat trading, held on Diwali evening, is a time-honoured tradition on Indian bourses believed to herald prosperity for the financial year ahead. The session typically witnesses limited trading activity, with investors and traders participating symbolically to mark the auspicious occasion.
The decline during this year's session marks a notable departure from historical patterns. Negative closures during muhurat trading are rare occurrences, making this year's performance a point of interest for market observers tracking the markets' trajectory amid broader macroeconomic conditions.
The benchmark indices have been navigating mixed sentiment in recent sessions as investors assess corporate earnings, monetary policy signals, and global economic developments. The muhurat trading session's performance, while symbolic in nature, has often been viewed by traders as a potential indicator of market sentiment heading into the new financial trading period.