Ahmedabad, Ahmedabad: Samvat 2065 is drawing to a close with stock market indices registering over 100% gain during the outgoing year. It is, therefore, an optimistic market that will welcome Samvat 2066 with muhurat trading for an hour on Saturday.
Market players say that the current bull run will also continue during the muhurat trading which is scheduled for Saturday, between 6:15pm and 7:15 pm. They are optimistic that the Sensex will touch 17,500.
"Liquidity is driving the markets," said Vaibhav Shah, MD of Monarch Projects & Finmarkets Ltd. "So long as that continues, and there is inflow of other positive news, markets will, very likely, rise to new highs. In all likelihood, the markets will close with gains on Saturday."
On Friday, Sensex gained 127 points and closed at 17,322.82, just 177 points short of the 17,500 mark. If it touches that mark during Saturday's muhurat trading, it will be at an 18-month high. Nifty was at 5,142 at the end of Friday's trading with a gain of 34 points.
"Looking at the current trend, one should not be surprised if the Sensex crosses 17,500 on Saturday," said Yamal Vyas, research head of KIFS. "I don't see a major fall until the Sensex and Nifty cross 18,500 and 5,300 levels, respectively."
Nilesh Kotak, MD of Dhanvarsha Fincap Pvt Ltd, agreed. He said the positive trend would continue even during the muhurat trading session. "It is likely that Sensex will touch 17,500 in early trades but some profit-booking may take place after that," he said.


