The first trading session of Samvat 2069 ended on a weak note as the BSE benchmark Sensex erased early gains to close nearly 52 points lower at 18,618.87 in the special 75-minute Diwali Muhurat trading on Tuesday after investors preferred to book profits to start new accounts.

After lifting the Sensex nearly 60 points to 18,732.71 at the outset, the momentum quickly evaporated on profit selling and weak global market trends. Sensex closed 51.47 points, or 0.28 per cent, lower at 18,618.87.

Out of the 30-share Sensex, 13 stocks including Bharti Airtel, RIL and ONGC gained while 17 counters, including Tata Motors, HDFC, Infosys and SBI closed with losses.

Investors were seen cautious amid negative factors like contraction in industrial output and higher inflation and disappointing quarter earnings by leading companies, said dealers.

Brokers said a weak trend in overseas markets on reports of a dispute between international lenders threatening to further delay an aid payment to Greece, also influenced the Indian market.

The wide-based National Stock Exchange index Nifty declined by 16.75 points, or 0.29 per cent to 5,666.95 led by stocks of IT, realty and banking sectors.

Indices had last closed with losses on Muhurat trading in 2007 when Sensex had slipped 150 points and Nifty by 36 points.

More In: Markets | Business