Mumbai (Maharashtra) [India], October 21 : Indian benchmark indices ended marginally higher in the special Muhurat Trading session on Sunday, 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. On the flip side, 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 gainers.
The exchange platforms Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) were open for trading from 1:45 PM to 2:45 PM, marking the beginning of Samvat 2082.
Experts in conversation withhighlighted that after a year marked by high volatility and modest single-digit returns, markets are set to move out of the consolidation phase and enter a period of gradual but sustained upside.
Banking and market expert Ajay Bagga said the period from the last Diwali (Samvat 2081) to this one was characterised by turbulence due to external headwinds such as geopolitical tensions, tariff uncertainty, and aggressive Foreign Institutional Investor (FII) outflows, nearly USD 15 billion year-to-date, coupled with high market valuations. However, Bagga added that the outlook for Samvat 2082 is brighter.
"The new Samvat year is poised for a stronger, more stable performance than the last, with a gradual but sustained upside, driven primarily by domestic fundamentals. We project Nifty at 30,000 by the next Diwali. The BSE Sensex is expected to target levels around 95,000.," he said.
The Muhurat trading session typically consists of all the market segments, including equity, commodity derivatives, currency derivatives, equity futures and options (F&O), and securities lending and borrowing (SLB), within this single, auspicious hour.
The tradition of Muhurat trading, however, goes back a long time with the belief that investments made during this auspicious time will usher in good returns.
Usually, trading volumes at exchanges are high because lots of orders are placed all across. Last year, the benchmark stock indices soared substantially to brighten the investors' fortunes during the stipulated one-hour period.
It has been an eventful past year for domestic capital markets, marked by heightened volatility, resulting in flattish performance with Nifty hovering around the psychological 25,000 mark for most of the trading year.
It was largely impacted by external factors such as geopolitical tensions, tariff wars and regime change in key global economies. On the domestic front, however, macroeconomics only improved, with the lower inflation (sub 3 per cent), contained fiscal deficit, healthy 7 per cent GDP growth rate and downward sloping interest rate cycle (down 100 bps in CY25), along with RBI's focus on adequate systemic liquidity.
Market performance was also tepid in the past year, tracking consolidation in corporate earnings, albeit on a high base. FY26 earnings, however, started on a steady wicket with Q1FY26 earnings growth pegged at 6.6 per cent YoY, with full-year expectations set at 8.2 per cent YoY.
The key highlight in the recent past was the GST 2.0 reforms, which came in as a positive surprise and can potentially lift corporate earnings starting H2FY26, experts added.
Key near-term trigger is the real demand growth across consumer categories in the ongoing festive season, consequent to the GST rate cut and a potential US-INDIA trade deal. Corporate earnings are
expected to grow at 12 per cent CAGR over FY25-27E.
"We expect double-digit earnings growth to resume from FY27E onwards, which should ensure healthy equity returns going forward. Our one-year forward Nifty target is placed at 27,000 levels (22x PE on FY27E)," a market note by ICICI Direct.
Bullish on the markets, the noted further added that greater purchasing power in the hands of consumers through income tax & GST rate cuts, as well as the government's relentless focus on increasing manufacturing GDP through policy reforms, depicts an improved outlook.
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