Diwali Muhurat trading on Nov 4 evening

Mumbai: Indian bourses would conduct one-hour special ‘muhurat’ trading on November 4 between 6.15-7.15 IST. The timing of ‘muhurat’ trading is beyond normal trading hours but it has been fixed as per the astrologically defined auspicious moment of the day.

The customary stock trading on Diwali is an old symbolic ritual that the trading community has followed for more than half a century.

This year’s session would mark the beginning of the Samvat 2078 of the Hindu calendar. It is widely believed that ‘Muhurat’ trading brings prosperity and wealth throughout the year in the market. Traders consider it a good omen to do token trading on Diwali day to propitiate Goddess Lakshmi. Equity indices have historically ended in gains in these special trading sessions though the trading volume remains very low.

In 2020, 22 of 30 Sensex stocks had closed in black with BSE Sensex scaling a fresh high while the NSE Nifty50 had topped 12750 points. In 2008, Sensex had surprised many as it had jumped 5.86 percent in a one-hour special session.

 

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