Benchmark indices Sensex and Nifty ended the Muhurat Trading session 2025, the first trading session of Samvat 2082, on October 21 on a slightly positive note by inching higher.
The hour-long trading session, held from 1:45 pm to 2:45 pm, saw benchmark indices extend their gains to fifth day albeit on a minor note but they still notched their highest close since September 2024.
Volatility was seen during the Muhurat Trading session as profit booking reigned supreme after markets opened at fresh 52-week high. Sensex fell nearly 250 points from day's high while Nifty shaved off 66 points from the intraday high.
At 2:50 pm, the Sensex closed 62.97 points or 0.07 percent higher at 84,426.34, and the Nifty settled 25.45 points or 0.1 percent higher at 25,868.60. About 2,890 shares advanced, 927 shares declined, and 179 shares were unchanged.
Infosys emerged as one of the top Nifty gainers as the Donald Trump administration has clarified the exemptions to the controversial $100,000 H-1B visa fee introduced via a presidential proclamation in September. Employers can now proceed with change-of-status filings. The proclamation's scope is limited to new petitions for individuals outside the country.
The Nifty Midcap index rose 0.1% while the Nifty SmallCap index rose 0.5%.
Top gainers included Cipla, Bajaj Finserv, Axis Bank, Infosys, JSW Steel, M&M, Grasim, Tata Motors, Dr Reddy's Labs, Bajaj Finance while Kotak Mahindra Bank, HCLTech, ICICI Bank, Max Healthcare, Asian Paints, Bharti Airtel, IndiGo, TCS, ONGC, Trent featured among the top laggards.
Bank Nifty snapped its four-day gains by closing 0.04% lower. On the day, 12 of the 16 major sectors advanced, but the gains were marginal.
Over the past year, the Sensex has risen about 7.5% and the Nifty roughly 9%, moderate compared with historical yearly gains, but sufficient to set a positive tone as Samvat 2082 begins.
"The fiscal and monetary reforms implemented this year have started showing results. Particularly, the sales of automobiles and white goods have shot up early this festive season and, if this trend sustains, earnings growth will be good at around 8 to 10% in FY 26, accelerating to around 15 % in FY 27. If this expectation materialises, the market will rally in Samvat 2082 compensating for the underperformance of Samvat 2081. In the short run the market may get a leg up from a possible India- US trade deal, but the long-term trend will be dictated by earnings growth," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
"The market's strength is underpinned by upbeat quarterly results, along with expectations of return of foreign inflows and improving global risk sentiment," Ajit Mishra, senior vice president of research at Religare Broking told Reuters.
However, with Nifty approaching the 26,000 mark, some consolidation around current levels cannot be ruled out before a fresh breakout, said Mishra.
Indian markets, after a bout of underperformance since their September 2024 peak amid foreign outflows, US tariffs on Indian goods, and earnings worries, are staging a comeback buoyed by policy support, GST rate cuts and optimism over an earnings revival.
European and Asian markets rose as investors cheered signs of easing US-China trade tensions, after US President Donald Trump said he expected to reach a fair trade deal with Chinese President Xi Jinping during their meeting next week in South Korea.
With inputs from Reuters
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