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Mumbai: October 23: Firmly backed by the ’best in past-five-year performance’ put up by the benchmark equity indices in Samvat 2070, that saw the Bombay Stock Exchange Sensitive Index and 50-share Nifty of the National Stock Exchange rising more than 26 per cent, the first trading session or ‘Muhurat sauda’ at Dalal Street today set off on a bullish note with investors picking up shares selectively to minimise risk element.

As is the normal practice on the new year’s inaugural session the Sensex and Nifty increased as investors/traders bought blue chip stocks. At the fag end of the token 60-minute business session, stock prices declined on a brief spell of selling. Investors sold or squared off their newly acquired holdings to carry a token profit back home to celebrate ‘Lakshmi Poojan’.
The indices ended with gains for the fifth session in a row raising hopes that the bull run is likely to persist with a few punctuations of technical correction.

Analysts on Dalal Street claim investors are likely to turn to equity markets for better returns in the new year since in the outgoing Samvat it came on top of realty and bullion markets.

The 30-share Sensex of BSE opened higher at 26,889.51 and gained marginally to reach an intra-day high of 26,930.23. It closed at 26,851.05 points up 63.82 points.

Mumbai, Oct 23 :- BSE Brokers alongwith their family members performed Muhurat Trading at BSE on occasion of Laxmi Pujan. Also seen  actress Kajal Agarwal striking bell.

The Nifty regained the 8,000-mark and stayed above that level. The 50-share NSE index started at 8,027.70 and rose to 8,031.75.

Analysing the indices behaviour in Samvat 2070, brokerages say not only the Sensex and Nifty doubled their performance of the previous Samvat 2069 from 13 per cent and 11 per cent respectively, but broader markets surged more.

The BSE Mid-Cap Index gained 53.4 per cent while Small-Cap was up 74.5 per cent mainly on foreigners picking up select stocks in these segments with a view to cover the risky assets ~ if any ~ in the Sensex or Nifty. The Sensex shares yielded best returns this year, more than 22.2 per cent in Samvat 2066.

Muhurat trading marks the opening of new account book or "chopdi" by traders and traditional brokerages. The traders today closed their old account with great satisfaction as the indices are gaining steadily.

The foreign portfolio investors had net invested $16.9 billion in the domestic stocks in Samvat 2070. Analysts say investment in the new Samvat can be good since valuations have potential to grow if economic and structural reforms initiated recently do not slowdown.

On the caution side, the markets will have to be wary of inflationary behaviour and keep track of a likely rise in the interest rates in the United States and probability of a global economic slowdown.

Meanwhile, Maruti Suzuki and third biggest private lender Axis Bank stood out for best returns in both Sensex and Nifty.

The country’s biggest car manufacturer Maruti-Suzuki with 110.70 per cent return in Samvat 2070 tops the list of best performers in the Sensex. On the NSE it gained 86 per cent. The rise since the start of 2014 calendar year is being attributed to recovery of the automobile sector from the sluggish growth that had bogged it down for almost three years.

Axis Bank with 76.59 per cent returns in Sensex stood second, and third among Nifty stocks with 73 per cent returns.

MUMBAI Oct. 23 :- Laxmi puja is performed on occasion of Diwali Puja at Swaminarayan Temple, Dadar in Mumbai.