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Sensex and Nifty Close Lower During Muhurat Trading for First Time Since 2017
Sentiment: NeutralHigh Priority
What Happened?
For the second time in a decade, both Sensex and Nifty ended lower during the Diwali Muhurat trading session, marking the start of Samvat year 2083. Sensex closed at 80,999 points, down 29 points, while Nifty fell 44 points to 24,986.
Key points
- Sensex opened at 81,299 points, reaching a high of 81,442 before closing lower.
- Nifty's negative close is the first since 2017 during Muhurat trading.
- The trading session saw profit-taking after a seven-session rally adding over 10%.
- Midcap and smallcap stocks saw buying, with BSE's midcap index up 0.5% and smallcap index up 1.5%.
- The market capitalization of BSE-listed companies reached an all-time high of Rs 506 lakh crore.
Key insights
- The negative close may indicate a shift in investor confidence after a strong rally.
- The buying in midcap and smallcap stocks suggests a potential reallocation of investment strategies.
- The record market capitalization highlights the overall growth in the Indian stock market despite the day's losses.
Why it matters
This trading session reflects changing investor sentiment during a significant cultural event.
Entities
Sensex· IndexNifty· IndexBSE· OrganizationNSE· OrganizationMumbai· CitySamvat Year 2083· Event
Source
Times of India
