Brokers trade as ceremonial purchases of stocks are made during the session marking Diwali at the Bombay Stock Exchange in Mumbai, India. Photographer: Dhiraj Singh/Bloomberg.
8 years ago
Oct 19, 2017
Indian shares swung between gains and losses in an hour-long session, when traders and investors make ceremonial purchases marking the Diwali festival.
The Sensex has risen in seven of the past ten years on the Muhurat trading day and dropped in eight of the following sessions. So, since the market closed lower today, there may be a bounce back in store on Monday?
The NSE Nifty 50 index rose nearly 18 percent and the S&P BSE Sensex climbed 16.4 percent in the last 12 months. The reason for the incessant flows, of course, was the unprecedented note ban implemented by the Narendra Modi government, with an aim to crack down on black money.