Samvat 2073: Sensex, Nifty End Flat In Muhurat Trading

bloomberg quint-Indian shares closed little changed at the end of a special Muhurat trading session as investors booked profits in some of the lenders.
The S&P BSE Sensex was little changed at 27930 while the NSE Nifty lost 0.1 percent to 8,625. The market breadth remained in favour of the bulls with 1,179 advances, 409 declines and 291 stocks remained unchanged. Samvat 2073 The Sensex has climbed 8 percent since last Diwali on November 11, 2015, as overseas investors stepped up purchases of local shares. Twenty two of the 30 index members have risen since last year’s Muhurat day, powered by Tata Steel Ltd.’s 83 percent rally and GAIL India Ltd.’s 54 percent advance. Software maker Wipro Ltd. and Lupin Ltd., a drugmaker, fell 17 percent and 16 percent respectively.
Foreign investors have sold $616 million of local stocks this month, the first outflow since February and the most among eight Asian markets tracked by Bloomberg.
The Sensex has climbed 6.9 percent this year and trades at 16.6 times projected 12-month earnings, compared with a multiple of 12.4 for the MSCI Emerging Markets Index.
The markets will be closed on Monday for Diwali and resume regular trading on Tuesday.

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