Sensex rises by 124 points in Muhurat trading session

Both the benchmark indices have fallen sharply in a year-period with Nifty and Sensex losing 2.7 percent and 3.9 percent respectively. The previous close in the negative was the 52.36 percent fall in 2008.

On similar lines, the broad-based National Stock Exchange index Nifty regained the psychological 7,800-mark by rising 41.65 points, or 0.54 per cent, to end at 7,825.00 after touching the session's high of 7,847.95 and a low of 7,819.10.

The major Sensex losers were Bharti Airtel, down 0.60 percent at Rs.330; Hero MotoCorp, down 0.49 percent at Rs.2,644.40; ITC, down 0.46 percent at Rs.335; NTPC, down 0.38 percent at Rs.131; and ONGC, down 0.19 percent at Rs.236.50.

"The upward development since final Diwali was not sustained past March 2015, as political developments, slower tempo of reforms and disappointing outcomes eroded buyers confidence".

Sector-wise, during the Samvat under review the defensive stocks relatively outperformed with investors preferring pharma (+11 percent) and IT (+4 percent) stocks.

"The disappointment in earnings are not going to last and they are expected to pick up". Key indices in China, Hong Kong, South Korea and Taiwan fell by 0.18 per cent to 1.44 per cent, while Japan's Nikkei firmed up by 0.15 per cent. Singapore market remained closed. "Energy too under performed with losses of 16 percent during the year".

This led the S&P BSE Sensex to close the day's trade on Tuesday down 392 points or 1.50 percent.

Out of the 30-share Sensex, 23 scrips ended lower. It was down 131.eighty five factors or 1.sixty seven % decrease at 7,783.35 factors.

The Sensex touched a high of 25,944.93 points and a low of 25,853.42 points during the intra-session trade.

"Besides the overhang of the Bihar results, sentiments were downbeat in reaction to weak global markets and lack of buying interest among the participants", said Jayant Manglik, President, Retail Distribution at Religare Securities.

"US markets posted their sharpest decline in six weeks, dropping for the fourth consecutive session yesterday. Chinese commerce knowledge additionally confirmed weak spot ensuing in a pointy decline in metallic and oil shares", Agrawal stated.

Sector-wise during the day the special trade session all 12 indices closed with healthy gains.