Market benchmark BSE Sensex gave up its early gains to end over 11 points lower at 27,930.21 in a special Muhurat trading session to mark the beginning of Hindu Samvat Year 2073.

In the one-hour session, the Sensex opened higher to regain the 28,000-mark, advancing to a high of 28,095.71 on initial buying as investors and funds opened their new accounts on the first session of Samvat 2073.

However, it dropped to 27,890.14 as participants booked profits at higher levels, before settling 11.30 points, or 0.04 per cent, down at 27,930.21.

The gauge had gained 105 points in the previous two sessions.

On similar lines, the broadbased NSE Nifty index fell 12.30 points to end at 8,625.70.

Initial gains were wiped off as some investors booked profits, brokers said.

Losses in the Muhurat session were led by power, banking and FMCG sectors. Gains in consumer durables, healthcare and IT counters capped the fall.

“The average one-year return for the Sensex from one Diwali to another since 1979 has been 20.78 per cent. However, returns in 11 out of the 37 years have been negative. Besides in 25 out of these 37 years, returns have either exceeded 20 per cent or have been below 10 per cent,” a report by Kurtosis Analytics and Advisors said.

“On an average rolling 3-year CAGR since 1982, the Sensex has returned 17.12 per cent delivering negative returns only in four out of the 35 years.

“In addition, the returns have exceeded 14 per cent in 18 out of those 35 years.”

It was mixed bag for sectoral indices.

Volatility was high and the volatility index India Vix closed 5.71 per cent up 15.4900. Lupin, Wipro, ONGC, Sun Pharma and M&M were the top five Sensex gainers while Dr Reddy’s, HDFC, Powergrid, NTPC and Tata Motors were the top five losers.

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