Mid-race concerns turned to post-race celebrations for trainer Luke Oliver after seven-year-old mare Khutulun raced to a narrow victory at Caulfield.

Khutulun ($6) wore down Downhearted ($4.20) in the final 200m to win by a nose in Saturday's The Big Screen Company Handicap (1800m).

The came despite Oliver and apprentice Ben Thompson's mid-race anxiety because the mare was not settling well enough.

"Mid-race she was over-racing so badly I thought she was going to fall in a hole but she was so tough," Oliver said.

"Since we put the blinkers on at her last start of her last preparation, she really fights hard and that was probably one of her best wins today."

Saturday's victory was the mare's first win this campaign at her fourth start and took her overall record to eight wins from 43 starts.

It was her first open company win and third career city victory.

"I'm just so proud of her to come back again as a seven-year-old mare and get another city win," Oliver said.