Giving hopes for a better returns,Dalal Street ushered in Samvat year 2068 on a cheerful note with the BSE benchmark Sensex gaining 34 points in the special Muhurat trading on Wednesday. The index gained over 95 points in the opening session on the back of continued fund-based buying and firming global trend,but pared gains towards the end. The Sensex,which had recorded a steep rise of over 315 points on Tuesday following the RBIs announcement of a likely pause in monetary tightening,closed at 17,288.83 with stocks of consumer durable,PSUs,metal and healthcare sectors leading the gains. The Sensex has lost almost 3,640 points or 17.41 per cent since over the last one year. Brokers said the buying activity gathered momentum as investors and funds opened their new accounts on the first session of Samvat year 2068. They said a better trend in overseas markets further influenced the trading sentiment. The Bombay Stock Exchange welcomed the Samvat Year 2068 with much fanfare and panache. The Lakshmi Pooja and the Muhurat Trading session from 4.45 pm to 6.00 pm was graced by several personalities from the broking fraternity,corporates and bollywood too. Actress Mahima Choudhary was at the exchange for the Opening Bell, said a BSE official. Markets will be closed on Thursday before resuming on Friday. Indian markets would get their first chance to react to the Eurozone announcement that is expected on Wednesday, said Amar Ambani,Head of Research,IIFL. The market witnessed only token trades on Wednesday. A clear picture will emerge only on Friday. But we are hopeful of a recovery in the new year, said BSE dealer Pawan Dharnidharka. Dipen Shah,HeadFundamental Research,Kotak Securities,said,the last Samvat year has been challenging for the markets with both global and domestic concerns weighing on the indices. The new Samvat year brings hope of some solution to the global economic crises and speedy action from the Government in India.
