On Diwali, the stock market in India remains closed for normal trading. However, they conduct a one-hour special Muhurat trading session every year during the festival of lights. This year too, the BSE and the NSE will conduct a Muhurat trading session on November 4.
Here's all you need to know about the Muhurat trading session on Diwali:
1. What is the significance of Muhurat trading? The practice, which dates back to the year 1957 when trading began for the first time at BSE, started in order to tap the benefits of ‘Shubh Muharats’ or auspicious times. Trading during this session is believed to bring prosperity and abundance to investors throughout the year.
2, The session mostly encompasses buying orders, which adds to the market thrust and makes the market close with a positive note. Hence, it is observed that markets typically move upwards during the Muhurat Trading session.
3. Today's trading session will mark the beginning of a new Samvat or Samvat 2078 — the Hindu calendar year that starts on Diwali.
4. There will be a pre-open Muhurat Session from 6:00 pm to 6:15 pm and a post-closing Muhurat Session between 7:25 pm and 7:35 pm.
5. The one-hour normal market session trading would be held between 6:15 pm and 7:15 pm, the stock exchanges said in separate circulars.
6. The block deal session timing will be from 5:45 pm to 6 pm.
7. Both benchmarks indices Sensex and Nifty closed Hindu calendar year Samvat 2077 on a positive note. The Sensex rallied 4,384.94 points or 11.22 per cent, while the Nifty soared 1,136.05 points or 9.80 per cent.
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Published 04 November 2021, 07:18 IST