Dalal Street Ends Muhurat Trading In Red: Sensex Under 81K, Nifty50 Nearly 50 Points Down

Indian equity markets ended the special Muhurat Trading session on November 8 in the red, with benchmark indices giving up gains as selling pressure in IT, banking and financial services shares weighed on sentiment. At 3:30 pm, the Sensex stood at 80,999.40, down 28.62 points, or 0.04%.

The Nifty50 was at 24,986.40, declining 43.95 points, or 0.18%. The benchmark indices pared their gains during the special trading session as shares of IT companies, banks and financial services firms came under pressure.

The session, held on the occasion of Diwali, is considered auspicious by market participants, who traditionally mark the start of a new Samvat year. Traders across India celebrated Diwali by worshipping traditional account books alongside digital devices such as iPads, laptops, computers and mobile phones, reflecting the growing use of technology in the trading community while retaining long-standing customs.

The practice, encouraged by the Confederation of All India Traders (CAIT) for several years, highlights how Indian commerce is adopting digital tools while remaining connected to its cultural roots. On the occasion, traders performed Lakshmi-Ganesh puja at business establishments across cities, towns and villages, seeking prosperity, business growth and economic well-being.

CAIT also held a special Diwali puja at the residence of its Secretary General and Chandni Chowk MP Praveen Khandelwal in New Delhi. Several trade leaders and representatives of business organisations attended the ceremony.

Acharya Pandit Pramod Shastri conducted the Vedic rituals. The venue was decorated with flowers, rose petals and earthen lamps, while an artistic depiction of a traditional Indian trader holding a computer symbolised the transformation underway in the business sector.

The idols of Lord Ganesha and Goddess Mahalakshmi were ceremonially anointed with Panchamrit. Traders also worshipped Lord Hanuman, revered as Sankatmochan, symbolising their resolve to protect traditional Indian businesses amid the growing presence of global retail corporations following the opening up of the retail sector to foreign direct investment (FDI).

Indian equity markets ended in the red, with benchmark indices Sensex and Nifty declining. This was mainly due to selling pressure in IT, banking, and financial services shares. The session, held on the occasion of Diwali, is considered auspicious.

It traditionally marks the start of a new Samvat year for market participants. Traders celebrated by worshipping both traditional account books and digital devices like iPads and laptops. This signifies the blend of technology adoption with cultural customs in Indian commerce.

The Confederation of All India Traders (CAIT) has encouraged this practice for several years. It highlights how Indian commerce is adopting digital tools while remaining connected to its cultural roots. Traders worshipped Lord Hanuman as Sankatmochan, symbolizing their resolve.

This was to protect traditional Indian businesses amid the growing presence of global retail corporations following FDI. Sakshi Arora is Chief Copy Editor at ABP Live English, working on business stories that track markets, global economies and key financial trends.

A quick and dependable hand on the desk, she balances numbers with nuance, and is an expert on everything Personal Finance, Mutual Funds, and IPOs. For any tips and queries, you can reach out to her at sakshia@abpnetwork.com.