Indian stocks open strong as Samvat 2083 begins with Muhurat trading rally

Mumbai: Indian equity benchmark indices opened on a bullish note for the special Muhurat trading session on Sunday, marking the auspicious commencement of Hindu accounting year Samvat 2083.

The 30-share BSE Sensex jumped 401.80 points to stand at 81,406, while the broader NSE Nifty 50 climbed 79.15 points to reach 25,109.40 shortly after the continuous trading window opened at 2:20 pm IST.

The ceremonial one-hour trading session, hosted annually by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Diwali, saw broad-based participation across retail and institutional segments as traders welcomed the new year. Following the pre-open process from 2:05 pm, the primary equity session runs through to 3:30 pm, with closing processes extending to 4:00 pm. Concurrently, the Multi Commodity Exchange (MCX) commenced its specialized commodity trading session.

Today’s early surge builds upon a powerful momentum generated during Friday’s trade, where benchmark indices staged a massive rally despite mixed global cues. The Sensex had surged 1,718.01 points, or 2.17 per cent, to reclaim the 81,000 mark at 81,028.02. Concurrently, the Nifty advanced 493.75 points, or 2.01 per cent, to close at 25,030.35, locking in a seven-session winning streak.

Banking and financial services equities continued to lead the upward trajectory, supported by consistent gains in consumer durables and pharmaceutical stocks. The Nifty 100 also posted steady advances.

Historically, Muhurat trading has delivered positive returns in eight of the past ten years, driven by symbolic investments intended to bring prosperity. As Samvat 2083 gets under way, market participants remain focused on domestic earnings growth, foreign portfolio inflows, and evolving global macroeconomic trends to dictate near-term equity directions. (Updating ….)