The old economy clearly ruled the bourses over the last one year with metals, oil & gas and energy sectoral indices gaining the most since last Diwali, the Indian festival of lights that is considered auspicious for traders.
On a lighter note, here’s a heartening aspect for traders and long-term investors alike. If one tracks the logical sequence of the movement of the 30-stock benchmark Sensex through the last decade, Indian market could be at the beginning of at least a four-year bull run. Sensex had moved for two straights years (Diwali to Diwali) before declining in 2011. It moved up for three straight years thereafter before dipping in 2015. It is already up 8% since Diwali last year. It may be set for three more years of upswing before it retraces its steps.
The ‘Muhurat’ trading is scheduled for this Sunday and will be conducted from 6.30 pm to 7.30 pm.
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