Akshaya Tritiya is considered as one of the auspicious days. It is a good day to buy precious things. it is considered as the one off the three important Muhurtas. During certain auspicious times, markets can experience notable fluctuations due to changes in buying behaviors. This is particularly true when people consider the best times to purchase items like gold, cars, homes, mobile phones, TVs, and more. Akshaya Tritiya, a day seen as favorable for new beginnings and investments.
In the lead-up to Akshaya Tritiya, traders in various industries prepare for increased activity. With the current heatwave conditions, markets have witnessed a rise in demand for air conditioners, a larger TVs due to the popularity of the Indian Premier League (IPL). The demand for 5G mobile handsets is also on the rise, indicating a trend towards more advanced technology. Regarding the bullion market, gold and silver prices have been climbing. As Akshaya Tritiya approaches, the price of 10 grams of gold has risen to Rs 71,800, and silver has climbed to Rs 85,000 per kilogram. These fluctuations are often associated with increased buying, as Akshaya Tritiya is considered an ideal time for investment.
Also Read: - Gold Rate on May 10, 2024: On Akshaya Tritiya Check Prices of Yellow Metal in Mumbai, Delhi and Other Cities
In preparation for the day, some car showrooms have made arrangements to offer "Muhurta" vehicles, ensuring that customers can purchase two-wheelers and four-wheelers with ease. This advance planning helps meet the demand for new vehicle purchases on this auspicious day. In addition, during Akshaya Tritiya, there's expected to be significant activity in the real estate sector, with bookings for 500 to 800 flats projected. In the cultural context, Akshaya Tritiya is a time for various rituals and traditions. People honor their ancestors by worshipping with "Kara-Keli" (earthen pots filled with water) to symbolize the act of sacrifice and the hope of cool water from ancestors. These items are commonly purchased for ceremonies during this period.
Another tradition is the Chaitra Gauri Haldi Kumkum ceremony, a ritual where married women give turmeric and vermilion to other women and engage in social gatherings. This event culminates during Akshaya Tritiya, with women visiting each other's homes, exchanging Haldi Kumkum, and sharing traditional herbs and leaves. Overall, Akshaya Tritiya has significant cultural and commercial impacts, leading to a surge in market activities, traditional ceremonies, and an overall atmosphere of celebration and renewal.