Markets closed nearly flat in the special one-hour Muhurat trading session on Tuesday, marking an auspicious start to Samvat 2082, even as experts expressed cautious optimism about a potential revival after a challenging year that saw India significantly underperform global peers.
The Nifty 50 inched up 25.45 points or 0.10 per cent to close at 25,868.60, while the BSE Sensex gained 62.97 points or 0.07 per cent to settle at 84,426.34. The muted performance came against the backdrop of festive cheer, with 3,023 stocks advancing against 954 decliners on the BSE, and 174 stocks touching 52-week highs.
“Muhurat Trading is a time to reflect on the values that shape our financial journey, including trust, knowledge, and discipline. Investing is not only about creating wealth but about participating in India’s remarkable economic growth story,” said Ashishkumar Chauhan, MD & CEO, NSE, marking the occasion.
Among the Nifty 50 constituents, pharmaceutical major Cipla emerged as the top gainer, surging 1.58 per cent to close at ₹1,665.00, followed by Bajaj Finserv which climbed 1.18 per cent to ₹2,165.00. Infosys rose 0.69 per cent to ₹1,471.00, JSW Steel gained 0.68 per cent to ₹1,153.00, and Grasim advanced 0.67 per cent to ₹2,873.00.
On the flip side, Kotak Mahindra Bank led the losers, declining 0.98 per cent to ₹2,192.00. ICICI Bank fell 0.65 per cent to ₹1,381.30, Asian Paints dropped 0.64 per cent to ₹2,500.00, UltraTech Cement slipped 0.61 per cent to ₹12,271.00, and HCL Technologies shed 0.60 per cent to ₹1,486.50.
The broader and sectoral indices mirrored the benchmark’s performance, with Nifty Next 50 up 0.10 per cent, Nifty Financial Services gaining 0.11 per cent, while Nifty Bank edged down 0.04 per cent to 58,007.20. The Nifty Midcap 100 rose 0.11 per cent.
Market experts emphasized that Samvat 2081 was marked by significant underperformance, primarily due to a sharp slowdown in earnings growth. “The important takeaway from Samvat 2081 is India’s huge underperformance. The single major factor is the sharp decline in India’s earnings growth to 5 per cent in FY25 from average 24 per cent during the three years before that,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
However, analysts believe the worst may be over. “We have probably seen the peak of pessimism and negative sentiments for India. For Samvat 2082 we are at reasonable valuations at headline level with several sectors actually having grown significantly in the last year,” said Dr. Vikas Gupta, CEO & Chief Investment Strategist, OmniScience Capital.
Ponmudi R, CEO, Enrich Money, noted that technically the structure remains bullish. “The Nifty 50 closed almost flat, holding steady after a strong multi-day rally. Technically, the structure remains bullish as long as Nifty sustains above 25,800, with 25,750 acting as immediate support,” he said, adding that a decisive breakout above 26,000-26,300 could lead to fresh lifetime highs.
Vikram Kasat, Head – Advisory, PL Capital, observed that the market opened on a positive note supported by upbeat global cues. “Market participants largely focused on large-cap stocks, with selective buying seen in banking, IT, and auto counters. However, some profit-booking in metals and FMCG capped overall gains,” he said.
Looking ahead, Vinit Bolinjkar, Head of Research, Ventura, projected significant upside potential. “We are targeting 27,600 for the Nifty in the next Samvat. Similarly, we expect the Sensex to reach 90,100 during the same period,” he said, citing a domestic consumption-driven earnings revival from Q3FY26 and possible US-India trade deal as key catalysts.
Dr Vijayakumar added that if earnings growth improves to 8-10 per cent in FY26, accelerating to around 15 per cent in FY27, “the market will rally in Samvat 2082 compensating for the underperformance of Samvat 2081.”