Mumbai (Maharashtra) [India], October 21 (ANI): Indian benchmark indices ended marginally higher during the special Muhurat Trading session on Tuesday, with the Nifty closing around 25,900.
While the Sensex and Nifty remained largely flat, broader markets saw gains. The BSE Midcap index rose 0.3 per cent, and the Smallcap index advanced 1 per cent. At the end of the Muhurat trading session, Nifty stood at 25,868.60, up 25.45 points or 0.10 per cent, while Sensex ended at 84,426.34, up 62.97 points or 0.07 per cent.
Among Nifty stocks, top gainers included Cipla, Bajaj Finserv, Axis Bank, Infosys, and M&M, while Kotak Mahindra Bank, ICICI Bank, Bharti Airtel, Max Healthcare, and Asian Paints were among the losers. Barring Nifty PSU Banks and Realty, all sectoral indices ended in green, with Nifty Media, Metal, and Pharma being the top performers.
The BSE and NSE were open from 1:45 PM to 2:45 PM, marking the beginning of Samvat 2082. Experts highlighted that after a year of high volatility and modest single-digit returns, markets are expected to move out of consolidation into a period of gradual but sustained upside.
Banking and market expert Ajay Bagga noted that the period from last Diwali (Samvat 2081) to this one was turbulent due to external headwinds such as geopolitical tensions, tariff uncertainty, and aggressive Foreign Institutional Investor (FII) outflows of nearly USD 15 billion year-to-date, coupled with high market valuations. However, he added that the outlook for Samvat 2082 is brighter.
“The new Samvat year is poised for a stronger, more stable performance, with gradual but sustained upside driven primarily by domestic fundamentals. We project Nifty at 30,000 by next Diwali, and the BSE Sensex is expected to target around 95,000,” Bagga said.
Muhurat trading traditionally includes all market segments—equity, commodity derivatives, currency derivatives, equity futures and options (F&O), and securities lending and borrowing (SLB)—within this auspicious one-hour session. It is believed that investments made during this time bring good returns.
Last year, benchmark indices surged substantially during the Muhurat session, brightening investor fortunes. The past year for domestic capital markets was marked by heightened volatility, with Nifty largely hovering around the psychological 25,000 mark. External factors such as geopolitical tensions, tariff wars, and global regime changes impacted performance, while domestic macroeconomic indicators improved, including lower inflation (sub-3 per cent), contained fiscal deficit, 7 per cent GDP growth, and a 100-bps interest rate cut by RBI along with adequate systemic liquidity.
Corporate earnings consolidation kept market performance tepid, though FY26 began on a steady note with Q1FY26 earnings growth at 6.6 per cent YoY and full-year expectations of 8.2 per cent YoY. GST 2.0 reforms were seen as a positive surprise, potentially boosting corporate earnings in H2FY26.
Near-term triggers include real demand growth across consumer categories during the festive season, aided by GST rate cuts and a potential US-India trade deal. Corporate earnings are expected to grow at 12 per cent CAGR over FY25-27E, with double-digit growth resuming from FY27E onwards, supporting healthy equity returns. ICICI Direct projects a one-year forward Nifty target of 27,000 (22x PE on FY27E).
Experts remain bullish, citing greater purchasing power through income tax and GST rate cuts, alongside the government’s focus on manufacturing GDP growth through policy reforms, indicating an improved market outlook. (ANI)
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