Leading stock exchanges BSE and NSE will conduct a one-hour special muhurat trading session on Monday, marking the beginning of a new Samvat 2079 -- the Hindu calendar year that starts on Diwali.
The symbolic trading session would be held between 1815 hrs and 1915 hours, the stock exchanges said in separate circulars. It is believed that trading during the 'muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders. Diwali is considered to be the ideal time to start anything new. The market sentiment is quite positive, with a majority of buying orders across segments. Investors are said to benefit from trading during this session all through the year," Puneet Maheshwari, Director at Upstox, said.
Since the trading window is only open for an hour, markets are known to be volatile. Therefore, new traders should be watchful. The focus might not be on profitability as much as it might be on the gesture, he added. Trading would take place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot. Muhurat trading is the auspicious stock market trading for an hour on Diwali (Deepawali) when Hindus in India worship Goddess Laxmi for her blessings. On the BSE, the practice was started in 1957 and in 1992 on the NSE.