Muhurat 2017: Sensex down 28 points to 32,556; Nifty holds 10,200

The Asian Age With Agency Inputs

Business, Market

Market investors have gained handsome returns from last year's Diwali to this year.

Brokers stare at fluctuating share prices on Bombay Stock Exchange or BSE Sensex. (Poto: File/PTI).

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."