Sensex, Nifty End Diwali Muhurat Trading In Red; 8-Year Winning Streak Comes To An End

Indian stock markets failed to maintain their eight-year winning streak during the special Diwali Muhurat trading session on Sunday, with both benchmark indices closing in the red after opening on a positive note.

The BSE Sensex, which had gained around 250 points at the opening bell at 2.20 pm, eventually closed 28 points lower. Similarly, the NSE Nifty 50, which had initially risen by 40 points, ended the special trading session down 43 points.

With this, the nine-year run of positive Diwali Muhurat trading sessions, including the period since 2018, came to an end.

Markets Reverse Early Gains During Special Trading Session

The Indian equity benchmarks began the special 70-minute trading session on a bullish note but failed to sustain their early gains. Both indices slipped into negative territory by the closing bell at 3.30 pm.

The special trading window was scheduled from 2.20 pm to 3.30 pm, with the Multi Commodity Exchange (MCX) following the same timings.

Muhurat trading is a long-standing market tradition associated with the beginning of the Hindu financial year. Investors consider buying stocks during this auspicious period a symbol of prosperity and financial growth in the year ahead.

Markets Enter Samvat 2083 After Strong Weekly Rally

The markets entered Samvat 2083 on an optimistic note following 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 rally to seven consecutive sessions, strengthening investor confidence ahead of the new Samvat year.

The Nifty's ability to sustain levels above the 25,000 mark also offered some reassurance to investors entering the new market year.

However, despite the positive momentum leading into the festive session, the benchmarks failed to extend their Diwali winning streak, with both indices ending the special trading session lower.