NSE will conduct a one-hour special ‘Muhurat Trading’ session on the occasion of Diwali on October 21.The symbolic trading session will be held between 1:45 pm and 2:45 pm, the stock exchange said in a circular. The exchange announced that the pre-opening session will take place from 1:30 pm to 1:45 pm. The NSE is planning to have the Special Muhurat Trading during afternoon this Diwali, unlike in the evening, as it used to be conducted in the past.
MD and CEO of NSE Ashishkumar Chauhan said, "It's called Mururat trading, happens on Diwali, sometimes Muhurat is late in the evening which is inconvenient for trading, after many years, this time the Muhurat is in the afternoon. That is the reason, most brokers welcomed it, they want to be with their families in the evening, they asked to keep it in afternoon, even in future, we are looking to conduct in afternoon."Accordingly, the block deal session will be between 1:15 pm – 1:30 pm. Special pre-open session (for IPOs & relisted securities) will be between 1:30 pm – 2:15 pm. Normal market open for stocks in special pre-open session will be from 2:30 pm – 2:45 pm. Closing session time is fixed between 2:55 pm – 3:05 pm and trade modification cut-off time will be between 1:45 pm – 3:15 pm, announced NSE. The session also marks the beginning of a new Samvat — the Hindu calendar year that starts on Diwali — and it is believed that trading during the ‘Muhurat’ or auspicious hour brings prosperity and financial growth for the stakeholders.
The market will remain closed for regular trading on Diwali, but a special trading window will be open for one hour in the afternoon.Muhurat Trading, a long-standing tradition in Indian stock markets, is held every year on Diwali. The session marks the start of the new financial year as per the Vikram Samvat calendar, currently the Vikram Samvat year is 2082. Trading on Muhurat day is seen by investors as a symbolic gesture to usher in prosperity and wealth.