Indian stock market investors ended Samvat 2082 on a disappointing note, with benchmark indices Sensex and Nifty recording their weakest annual returns in 15 years. Despite a strong recovery towards the end of the Hindu calendar year, persistent foreign investor selling, global economic uncertainty and concerns over corporate earnings weighed on market performance.
The BSE Sensex declined approximately 4% during Samvat 2082, while the NSE Nifty 50 lost around 3.1%. These were the weakest Samvat-wise returns for both benchmark indices since 2011, when they had fallen 17.4%.
The disappointing performance reflected a challenging year for Dalal Street. Rising crude oil prices, geopolitical tensions, foreign institutional investor (FII) outflows and concerns about expensive stock valuations affected investor confidence. Although domestic investors continued to provide support through mutual fund investments and systematic investment plans (SIPs), buying was not sufficient to prevent annual losses.
However, the final weeks of Samvat 2082 brought some relief. The Sensex and Nifty recorded their strongest weekly gains in nearly six years, rising approximately 8.6% and 8.8%, respectively. The recovery helped reduce losses accumulated during the year and offered investors some encouragement ahead of the new Hindu financial year.
Muhurat trading begins Samvat 2083
Indian equity markets began Samvat 2083 with the traditional special Muhurat trading session on Sunday, November 8. The one-hour session, held on the occasion of Diwali, marks the beginning of the new Hindu accounting year and is considered an auspicious time for investors to make symbolic stock market investments.
The benchmark indices initially opened higher, supported by buying in select heavyweight stocks. The Sensex was initially reported to have gained 401.80 points to reach 81,406, while the Nifty climbed 79.15 points to 25,109.40.
However, the early optimism faded as selling emerged in several frontline stocks. The Sensex eventually closed at 80,999.40, declining 28.62 points or 0.04%. The Nifty 50 settled at 24,986.40, down 43.95 points or 0.18%.
The negative closing ended an eight-year streak of positive Muhurat trading sessions for the two benchmark indices. The last time the Sensex and Nifty recorded losses during the special Diwali session was in 2017.
The broader market performed relatively better. The Nifty Midcap index advanced around 0.13%, while the Nifty Smallcap index gained approximately 1%, indicating stronger participation among smaller companies.
Top gainers and losers during Muhurat trading
Among the Sensex constituents, Sun Pharma emerged as the leading gainer, rising 3.33%. Tata Steel advanced 2.37%, while Adani Ports, Power Grid and UltraTech Cement also ended higher.
On the losing side, Mahindra & Mahindra (M&M) declined 0.92%, making it the biggest laggard among Sensex stocks. Trent, IndiGo, Infosys and HDFC Bank also finished in negative territory.
The contrasting performance of individual stocks indicated that investors continued to favour select sectors rather than making broad-based investments during the special trading session.
Why did markets struggle in Samvat 2082?
Several domestic and international factors contributed to the weak performance of Indian equities during the year. Rising crude oil prices and geopolitical tensions remained major concerns, particularly because India depends heavily on imported energy.
Higher oil prices increase the country’s import bill, put pressure on the rupee and raise operating costs for businesses. Companies in sectors such as aviation, paints, chemicals and FMCG are particularly sensitive to fluctuations in energy and raw material prices.
Persistent FII selling also weighed on the market. Overseas investors redirected funds towards other markets, including those benefiting from the global artificial intelligence investment boom. Concerns over Indian equity valuations and uneven corporate earnings further influenced their investment decisions.
Domestic institutional investors helped absorb some of the selling pressure. Regular investments through mutual funds and SIPs provided support to the market, although they could not completely offset overseas outflows.
Higher US bond yields, inflation concerns, global trade uncertainty and currency fluctuations added to the challenges faced by investors.
Metal and pharma stocks outperform
Despite the broader market weakness, certain sectors delivered strong returns during Samvat 2082. Metal and pharmaceutical stocks emerged among the better performers, with the Nifty Metal and Nifty Pharma indices gaining approximately 22% and 21%, respectively.
In contrast, information technology and FMCG stocks faced considerable pressure. The Nifty IT index declined around 9%, while the FMCG index dropped approximately 18%.
At the individual stock level, BSE, Shriram Finance and Titan Company were among the strongest Nifty 50 performers, gaining 52.3%, 38.6% and 29.6%, respectively. ITC, Tata Motors Passenger Vehicles and HDFC Life Insurance were among the biggest losers.
What investors can expect in Samvat 2083
The outlook for Samvat 2083 will largely depend on corporate earnings growth, domestic consumption, foreign investment flows and global economic conditions. Market participants are expected to closely monitor quarterly results and management guidance to assess whether companies can sustain revenue growth and improve profitability.
Banking, financial services, manufacturing, consumption and capital markets are among the sectors investors may track for opportunities. However, crude oil prices, geopolitical developments and elevated valuations in certain market segments remain potential risks.
The beginning of Samvat 2083 has therefore brought a mixed message for Dalal Street. While the late recovery in the previous year offered some optimism, the negative Muhurat trading close highlighted continuing market uncertainty. Investors will be looking for stronger earnings and more stable global conditions to support a sustained recovery in the new financial year.