Indian equity markets ushered in the new Hindu accounting year Samvat 2081 with restrained optimism during the special one-hour Muhurat trading session on Sunday. The traditional Diwali-era ceremony witnessed mixed sentiment as benchmark indices struggled for clear direction amid global economic uncertainties.
Market Performance Highlights
The BSE Sensex managed to eke out modest gains, closing 105 points higher at 65,259 levels. However, the broader Nifty 50 painted a more cautious picture, ending virtually unchanged with a marginal decline of 4 points to settle at 19,526.
Sectoral Performance: A Mixed Bag
The trading session revealed distinct sectoral trends that could shape market direction in the coming weeks:
- Banking & Financials: Private banking heavyweights showed resilience while PSU banks witnessed profit-booking
- Auto Sector: Maintained steady momentum amid festive demand optimism
- IT Stocks: Remained under pressure due to global macroeconomic concerns
- Mid & Small-caps: Outperformed benchmarks, indicating continued retail investor interest
Global Factors Influencing Sentiment
Market experts attributed the cautious opening of Samvat 2081 to several international developments:
- Ongoing geopolitical tensions in Middle Eastern regions
- Persistent concerns about global inflation trajectories
- Uncertain interest rate outlook from major central banks
- Volatility in global crude oil prices affecting import bills
Expert Outlook for Samvat 2081
Despite the muted start, market analysts maintain a cautiously optimistic stance for the new accounting year. "The flat closing reflects market consolidation rather than bearish sentiment," noted a senior market analyst. "Historical data suggests that Muhurat trading sessions often set the tone for the coming year, and this stability could indicate measured optimism."
Fund managers and research heads emphasize that domestic macroeconomic fundamentals remain robust, with strong GDP growth projections and controlled inflation providing underlying support to equity markets. The upcoming state elections and general election expectations are also likely to influence market dynamics in the coming months.
Retail Investor Participation
The Muhurat trading session continued to see enthusiastic participation from retail investors, maintaining the decade-long tradition of considering Diwali buying as auspicious for portfolio growth. Demat account openings and SIP inflows have reached record levels, suggesting sustained retail confidence in equity markets despite global headwinds.
As Samvat 2081 begins, market participants will closely monitor corporate earnings, monsoon progress, and global economic indicators for clearer direction. The cautious yet stable Muhurat trading session sets the stage for what analysts predict could be another eventful year for Indian equities.
