- Indian markets held special Muhurat Trading for Samvat 2083.
- Sensex, Nifty opened higher, continuing Friday’s strong rally.
- Experts anticipate bullish momentum but warn of profit booking.
Indian stock markets opened for a special Muhurat Trading session on Sunday, November 8, as investors marked the beginning of Samvat 2083, the Hindu financial year. The National Stock Exchange (NSE) and the BSE will conduct the annual session on the auspicious occasion of Diwali.
The one-hour trading window began at 2:20 PM and will continue until 3:30 PM. Investors traditionally consider Muhurat Trading an auspicious time to make fresh investments.
At the opening bell, the Sensex jumped more than 300 points and neared 81,350, while the Nifty50 opened above 25,100, rising 73 points.
Also Read : Diwali Muhurat Trading Today: Kotak Securities’ Stock Picks And Target Prices For Samvat 2083
Friday’s Rally Sets The Tone For Muhurat Trading
The special session comes after a strong rally in the domestic market on Friday. The Sensex climbed 1,718.01 points, or 2.17 per cent, to close at 81,028.021. The Nifty advanced 493.75 points, or 2.01 per cent, to settle at 25,030.35.
Market participants will look to sustain the positive momentum as the new Samvat year begins, although experts have cautioned that intermittent profit booking could emerge after the recent sharp gains.
Global Cues: Wall Street Rebounds, Crude Oil Slips
Global markets offered mixed signals ahead of the special session. On Friday, the Nasdaq Composite and the S&P 500 recovered, supported by a rebound in semiconductor shares. The indices ended 1.09 per cent and 0.31 per cent higher, respectively. Dow Jones futures, meanwhile, declined 0.46 per cent.
Brent crude prices also moved lower after US President Donald Trump signalled progress in talks with Iran, even as hostilities continued in West Asia. January Brent futures fell 0.55 per cent to $97.75 per barrel on the Intercontinental Exchange.
Nifty, Bank Nifty Outlook For Samvat 2083
Market experts expect the Nifty to retain its bullish momentum in the coming week, with immediate resistance seen in the 25,350-25,800 range. The index’s support zone is placed at 24,000-24,400, which analysts consider important for sustaining the current breakout structure.
A sustained move above the resistance range could support further gains, while dips towards support may attract buying interest if the index holds above its breakout levels. Traders have been advised to maintain a positive outlook while remaining selective and watching for possible profit booking.
Bank Nifty also retains a bullish bias following its breakout and strong weekly close. Experts have identified 57,500-58,300 as a key support range, while the index could move towards 59,700-60,200 in the coming sessions.
Key Factors To Watch In The New Samvat Year
As Samvat 2083 begins, market direction is expected to be influenced by domestic corporate earnings, geopolitical developments, crude oil prices, infrastructure spending, interest rates and currency movements.
The sustainability of foreign institutional investor (FII) inflows will also remain in focus after the recent rally. Experts have cautioned that energy-linked inflation, supply chain disruptions and higher overall inflation could weigh on consumption and economic activity.
However, expectations of strong corporate earnings growth in FY27 could help offset some of these headwinds. Investors are expected to focus on fundamentally strong companies and assess market corrections for potential long-term opportunities.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
