Samvat 2081 kicks off on positive note

7th consecutive year of gains in Muhurattrading

- SUNDAR SETHURAMAN

Domestic equities markets ushered in Samvat 2081 with gains of nearly half a per cent, as all sectors made positive contributions. Following the one-hour ceremonial trading session, the Sensex closed at 79,724, up 335 points, or 0.42 per cent, while the Nifty 50 index finished at 24,304, rising 99 points, or 0.41 per cent.

The broader Nifty Midcap 100 and Smallcap 100 outperformed, rising 0.7 per cent and 1 per cent, respectively. Overall, 3,038 stocks closed with gains, while only 539 ended in the red on the BSE.

Bourses conduct a special one-hour ceremonial Muhurat trading session every year to mark the beginning of a new Hindu calendar year. This is the seventh consecutive year that equity markets have closed with gains on Muhurat trading day.

While domestic markets were closed for normal trading, global cues were mixed as investors awaited the Federal Reserve rate verdict and the outcome of US elections due next week.

Debroy was a member of the NITI Aayog up to June 5, 2019. In September 2017, he was appointed chairman of the EAC-PM.

Debroy had a wide canvas penning books and articles ranging from economics to translations of Hindu scriptures.