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Sensex starts Samvat 2072 on positive note, up 124 points


Mumbai: The first trading session of Samvat year 2072 ended on a positive note today with the benchmark BSE Sensex rising 124 points and the NSE Nifty regaining the 7,800-mark, snapping a five-day long losing streak.

In special Muhurat one-hour trading session, the Sensex recovered by 123.69 points, or 0.48 per cent, to close at 25,866.95. Intra-day, the gauge hit session’s high of 25,944.93 and a low of 25,853.42. The gauge had lost 847.33 points in the past five sessions.

On similar lines, the broad-based National Stock Exchange index Nifty regained the psychological 7,800-mark by rising 41.65 points, or 0.54 per cent, to end at 7,825.00 after touching the session’s high of 7,847.95 and a low of 7,819.10.

Market mood changed for the better amid renewed optimism after the government pushed ahead with major reforms, relaxing FDI rules in 15 sectors such as civil aviation, banking, defence, retail and news broadcasting and eased process for approval of foreign investment.

The benchmark Sensex lost 1,043.97 points, or 3.89 per cent, during Samvat 2071 and the NSE Nifty too recorded a fall of 212.55 points or 2.65 per cent.

The gainers in the Muhurat session were Axis Bank, Sun Pharma, L&T, Tata Steel, BHEL, Coal India, Lupin, Hindalco, Vedanta Ltd, Tata Motors, SBI and RIL.

Early gains were trimmed as some investors booked profits to commence their books with gains on the first special Muhurat session of Hindu Samvat 2072 year, brokers said.

Investors were seen in a cheerful mood and widened their positions in frontliners as well as midcap and smallcap stocks to mark the beginning of their new accounts, they added.

Stock markets will remain closed tomorrow on account of ‘Diwali Balipratipada’ and resume regular trading on Friday (November 13).

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