Mumbai (Maharashtra) [India], October 20 : The National Stock Exchanges (NSE) has announced Diwali Muhurat Trading to be held on November 1, marking the commencement of the Hindu Calendar year Samvat 2081.
This year Diwali, the festival of lights, will be celebrated on October 31 and a special window for the Diwali Muhurat Trading will commence on 6 pm and go on till 7 pm the next day.
Due to the Diwali festival, the stock markets will be closed for normal trading but the special window will open for just one hour in the evening.
The NSE in a circular today said, "A special live trading session shall be held on Friday, November 1, 2024 on account of Muhurt trading on Diwali." As per NSE, while the normal trading will be conducted between 6 pm to 7 pm, the trade modification end timing will be 7:10 pm.
Meanwhile, the Bombay Stock Exchange will also conduct special Muhurat Trading on November 1, as per the information available on its website, but the the exchange has not notified the timings.
As per NSE, any buying or selling of stocks done during the special Diwali Muhurat trading session will have to be completed just like any other regular trading day. After the trading, both parties (buyers and sellers) will have to fulfill their responsibilities, meaning the buyer will pay for the stocks and the seller will deliver them as per normal settlement rules.
During this one-hour window, investors placed orders for stocks according to their wishes which they believe to be auspicious and would bring in good returns.
Diwali, dedicated to worshipping the Goddess of Wealth, marks an auspicious day for new purchases and people tend to grab onto some form of financial investment.
Also, the purchase of precious metals such as gold and silver, real estate, electronic items, and automobiles, among others, is specially timed by many on this auspicious day.
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