For D-Street, the Samvat year 2066 started on a positive note. The Sensex had surged 171 points at its highest point before paring some gains on profit-taking.

The Sensex was up 47 points to 17,370 in the early deals of the 60-minute special trading session to mark the first day of the traditional Hindu calendar year,

Angel Broking CMD Dinesh Thakkar said valuation concerns have been overdone. Though the market has sharply appreciated, it is still not overvalued, he said, adding that the visibility on corporate earnings would be key driver for the markets.