Brokers said the deals were more token in nature. ``Some small orders came from domestic institutional investors. Retail investors also also made token orders to mark the special occasion,'' said BSE broker B V Shah.

The market sentiment has been buoyant in recent sessions amid signs of buying support from institutional investors.

Sensex (BSE sensitive index) opened sharply up at 4668.45 and moved in a range of 4682.35 and 4642.02 before closing at 4650.54 with a modest gain of 52.09 points compared to the last Friday's close of 4598.45. The BSE-100 index rose by 31.38 to 2182.48 from the previous close of 2151.10. The S&P CNX Nifty Index of the National Stock Exchange rose by 5.05 points to1369.60.

``It is a good sign and points to a good future,'' said a dealer, adding, ``Moorat session in the last couple of years was colourless. But this time the market has big expectations... a stable government is in place in Delhi, new reforms are being introduced. The country needs a higher economic growth for the all-round development.''

Marketmen are now hoping that foreign investors would slow down their sale in India.

Figures from the Securities and Exchange Board of India (SEBI) showed foreign funds were net buyers of $ 110.4 million worth of equities from November 1-4.

Among the leading gainers in the Moorat session were software shares Aptech (up eight per cent at Rs 1,163.15), Digital Equipment 6.03 per cent at 655, Pentafour Software eight per cent at Rs 717.90 and Silverline Industries 7.99 per cent at 445.10. Other gainers included Mahindra & Mahindra, Nestle India, Glaxo India and Hindalco Industries.

Meanwhile, the Jeejeebhoy Towers (which houses the BSE) and brokers offices in thecity wore a festive look with the presence of family members of brokers and dealers. However, the old enthusiasm and fervour to usher the New Year was missing with the information technology explosion and changes in accounting practices.

The tradition which was kept alive by the 125-year old BSE even when it entered screen-based trading system was followed by the National Stock Exchange (NSE) and Over The Counter Stock Exchange of India. ``Families still come to their offices in South Mumbai from different locations of city for Moorat but the enthusiasm is waning,'' said a broker.

``Moorat trading lost its importance since the exchange and brokers' offices gave up the old accounting systems after the government's restrictions to work under the financial year system. The entry of computers also forced them (brokers) to change accordingly,'' said a broker. Before computerisation, the business year ended before Dhan Teras. After Laxmi Pujan, the Moorat trading was performed. "Though the accounting system haschanged, we continue to perform Moorat Trading on the Diwali day," said a BSE member, adding, "We get nominal orders on the Muhurat day, and it is just part of token trading.''

BULLION SUBDUED: Samvat 2056 commenced on a subdued note with both the precious metals showing moderate losses on the bullion market here today as the prices had reached saturated level in the past few weeks prior to the festival of lights.

Silver spot (.999 fineness) and tenderable silver shed another 50 points each to close at Rs 8090 and Rs 8095 as against yesterday's close of Rs 8140 and Rs 8145 respectively. Raw silver (.916 fineness) eased by Rs 25 to Rs 7995 from previous close of Rs 8020. Standard gold and 22-carat gold (nominal price) both finished fractionally down at Rs 4580 and Rs 4240 compared with yesterday's close of Rs 10 each to Rs 4590 and Rs 4245 respectively.