Muhurat 2017: Sensex down 28 points to 32,556; Nifty holds 10,200
Market investors have gained handsome returns from last year's Diwali to this year.
Mumbai: At the Bombay Stock Exchange (BSE), Sensex opened lower as the special one-hour Muhurat trading started at 6.30pm on Thursday welcoming the new accounting year Samvat 2074. The benchmark 30-share index was trading lower by 28 points at 32,556 mark.
Broader Nifty, however, kept moving around the critical 10,200 mark. A report on NDTV citing data compiled by Bloomberg said over the past decade, special Muhurat trading sessions on Diwali have ended on a positive note for as many as seven times.
Market investors have gained handsome returns from last year's Diwali to Diwali 2017. Over the year, the 30-share index went up by 16 per cent and broader Nifty gained 18 per cent. The small- and mid-cap indices gained more than that.
"Despite demonetisation and GST hurting economic growth in June quarter, a key factor supporting the rally in domestic stock markets has been record inflows into equity mutual funds," NDTV report said.
Care Ratings had earlier said in a report: "The Indian economy has undergone major structural changes in the last one year, starting with demonetization in November 16, which was immediately after Diwali (which was in end-October 2016), followed by the implementation of GST in July 17, both of which have led to some disruptions on the demand and supply side."