MUMBAI: The 8 November Diwali Muhurat trading session marked a muted start to Samvat 2083, with the benchmark Sensex closing 0.04% lower. Over the past 30 years, the Sensex has ended the Muhurat trading session in the red just eight times, including Sunday's decline. On the other 22 occasions, the index closed higher.
The Sensex fell 28.62 points, or 0.04%, to close at 80,999.40 on Sunday. The Nifty 50 declined 0.18% to 24,986.40.
The Nifty 50 has lost 1.1% since the previous Samvat year, reflecting a subdued year for equities.
On Friday, the last trading session of Samvat 2082, the Sensex advanced 2.2% to 81,028, while the Nifty rose 2% to close at 25,030.35.
Muhurat trading is a special stock market session held on Diwali to mark the beginning of a new Samvat year. The Vikram Samvat calendar dates back to 57 BCE and is traditionally associated with King Vikramaditya of Ujjain. The occasion is particularly significant in Gujarat and Rajasthan, where business communities traditionally close their old account books and open new ones at the start of Samvat.