Akshaya Tritiya is considered auspicious for buying assets, but stocks have usually been the last in the pecking order. On Monday though, the performance of the benchmark indices was the best on any Akshaya Tritiya day in the past 10 years.

This sounds even sweeter given the fact that the Sensex has closed in the green only four times on Akshaya Tritiya in the last decade.

The Sensex closed at 25689, up 460 points on Monday.

Gold, which is usually associated with this day, saw an about 10 per cent spurt in sales with the yellow metal hovering at ₹30,000 levels for 10 gm.

However, Akshaya Tritiya is not the only reason say those in the trade.

“Akshaya Tritiya is considered auspicious to give, to buy and to move into new homes. Beyond that trying to relate events to this is incidental,” says Arun Kejriwal, Founder, KRIS Research. Retail investor Ashish Choudhary agrees.

“Markets appear to be showing an uptick and this might spur investors to look at gold as another bet though it is at ₹30,000 levels.”

Disappointing US jobs data was also the reason for this buoyancy in the Sensex say market experts. Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services Ltd, says, “The domestic market got a push as the disappointment in US job data showed that the economy is not out of the woods, which increased the hope that the FED will remain cautious towards the next rate hike. Additionally, the signs of recovery in fourth-quarter earnings also steered an upturn in the market.”

Jewellery scrips Touted as one of the biggest beneficiaries of Akshaya Tritiya, it was a mixed bag for jewellery stocks. While PC Jewellers (up 1.03 per cent) and Gitanjali (up 0.71 per cent) closed in the green, TBZ (down 0.58 per cent) and Thangamayil (down 5.42 per cent) closed in the red.

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