Sensex and Nifty Slip in Muhurat Trading to Snap Eight-Year Winning Run as India VIX Jumps — November 8, 2026
Indian equity benchmarks surrendered initial gains at the fag end of Sunday's special Muhurat trading session, snapping an eight-year streak of positive Diwali closes as the market ushered in Samvat 2083. The 30-share BSE Sensex settled 28.62 points, or 0.04%, lower at 80,999.40, while the NSE Nifty 50 dropped 43.95 points, or 0.18%, to conclude at 24,986.40.
The special 70-minute session, conducted between 2:20 PM and 3:30 PM IST, had started on an optimistic note with the Sensex advancing over 250 points and the Nifty touching an intraday high above 25,100 during pre-open and early deals. However, profit booking in index heavyweights dragged both indices to close near the day's lows.
The retreat marked the first negative Muhurat trading session since 2017. Adding to the cautious undertone, India VIX—the NSE's gauge for near-term market volatility—surged nearly 5% to 6% during the session, hovering above 18.
Sectoral Trends and Major Movers
Sectoral performance showed notable divergence during the brief trading window. Gains in healthcare, media, and select metal counters failed to counter the pressure seen in real estate, information technology, and consumer stocks.
Key Outperformers on the Day:
- Sun Pharma: Rose over 3% to lead the blue-chip gainers on the Nifty.
- Tata Steel: Climbed more than 2% amid firm buying in commodity counters.
- ONGC: Advanced over 1.3% as crude oil dynamics drew selective interest.
Key Laggards and Midcap Losers:
- Voltas: Slid approximately 3% to end among the biggest losers in the BSE Midcap space.
- UNO Minda and Jubilant FoodWorks: Declined between 1.1% and 1.3% on profit-taking.
- Nifty Realty and IT: Ended in negative territory, down 0.27% and 0.17% respectively, exerting downward pressure on the headline indices.
Historical Precedent and Market Outlook
While retail and institutional investors traditionally view Muhurat trading as an auspicious window for token investments, historical trends indicate that session direction does not determine broader market trajectory for the ensuing Hindu calendar year. Between 2016 and 2025, the benchmark indices advanced in eight of the ten Muhurat sessions, but broader annual returns were driven by underlying macro fundamentals and corporate earnings.
Analysts noted that while domestic liquidity and technical setups remain constructive above key long-term exponential moving averages, overhead resistance near 25,200–25,350 on the Nifty will require strong institutional participation to conquer decisively. Elevated crude oil prices and global interest rate trajectories remain the primary external monitorables as full-fledged trading resumes.
