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Diwali Muhurat Trading 2017 Updates: Nifty holds 10,200; Sensex edges lower, down 11 points

In the last ten years, Nifty closed in red six times.

Updated: October 19, 2017 8:56 PM IST

By India.com News Desk | Edited by Uddipta Das

New milestones for Sensex and Nifty
New milestones for Sensex and Nifty

Mumbai, October 19: Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will conduct the special ‘Muhurat’ trading session for 2017 on Thursday. Reports claimed that this ‘Muhurat’ trading session which marks the festival Diwali and Lakshmi Puja in major parts of India will begin at 1830 hours (6:30 pm) and end at 1930 hours (7:30 pm). The pre-opening session will be conducted at 1815 hours (6:15 pm).

In 2016, the market ended on a lower note, with Sensex ending over 11 points lower. The Nifty also fell 12.30 points to end at 8,625.70.

The celebration is marked by ringing the ceremonial bell during the Muhurat. It is a symbolic ritual which has been performed for years and investors make some token purchases on this day. Reportedly, people expect to reap greater benefits by investing in the specified hours.

In Hindu religion, a ‘Muhurat’ is an auspicious time and it is believed that if a task is done in this auspicious time, it is profitable. Hence, this event is greatly important for the believers who are seeking to invest on the auspicious day of ‘Diwali’.

As per reports, the Nifty index gained most in 2011 when it rose by 8 percent, followed by the year 2012 when the index rallied a little over 5 percent, and then in 2014 when it saw a surge of 2.5 percent.

However, in the last ten years, Nifty closed in red six times.

Copper futures fell 0.57 per cent to Rs 459.20 per kg in special Muhurat trading today as speculators booked profits to mark the beginning of Samvat year 2074. Copper for delivery in far-month February 2018 traded lower by Rs 2.65, or 0.57 per cent, at Rs 459.20 per kg, with a business turnover of 39 lots.

The metal for delivery in November edged down by Rs 2.55, or 2.56 per cent, to Rs 454.20 per kg, with a business turnover of 1,903 lots.

Benchmark Sensex rose over 72 points in the opening trade. The Sensex was trading higher by 72.40 points, or 0.22 per cent to quote at 32,656.75. The gauge has shed 49.29 points in the previous two sessions.

Sectoral indices led by realty, capital goods, consumer durables, healthcare, teck, FMCG and oil & gas were trading in the positive zone, with gains up to 0.65 per cent.

The broader NSE Nifty too edged up by 1.10 points, or 0.01 per cent to 10,211.95.

The Sensex gained 4,642.84 points, or 16.61 per cent, in the Hindu Samvat year 2073, while the broader NSE Nifty surged 1,572.85 points, or 18.20 per cent during this period.

Gold futures rose 0.29 per cent to Rs 29,654 per 10 grams in special Muhurat trading on the Multi Commodity Exchange after participants built up fresh positions to mark the start of Samvat 2074. At the MCX, gold for delivery in December rose by Rs 86, or 0.29 per cent, to Rs 29,654 per 10 grams in business volume of 557 lots.

Globally, gold traded higher by 0.34 per cent at USD 1,284.80 an ounce in New York on Thursday.

Groundnut oil prices rose marginally in a special Muhurat trading session at the Vashi oils and oilseeds wholesale market here today due to mild demand from stockists and retailers amid festivity. Linseeds oil gained by 25 paise per 10kg to Rs 750.25 from Rs 750 previously.

With agency inputs.

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