On the Indian festival of lights, Diwali, a unique stock market session known as Muhurat Trading takes place. In Hindu astrology, a “Muhurat” is a fortunate time. This custom has cultural importance and has been followed for many years.
An hour or so is usually allotted for the Muhurat Trading session, which ushers in the Hindu calendar year. Starting new investment ventures now is seen to be auspicious since it represents money and prosperity for the following year.
Major Indian stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), are open during Muhurat Trading. Buying and selling stocks is a symbolic act of wealth creation that market players partake in. The gathering makes investors feel good about themselves, which adds to the joyous atmosphere.
During Muhurat Trading, brokers and investors closely monitor market developments, frequently using them as a predictor of the coming year. In order to identify possible market trends, the performance of important stocks and indices during this brief trading time is examined.
Muhurat Trading involves a number of rituals, such as executing a Lakshmi Puja, calling upon the goddess of prosperity, and requesting her blessings for profitable and successful transactions. The ceremonial bell ringing to open the trading session is a momentous occasion that draws market participants’ attention.
In India, Muhurat Trading is open from 6:15 to 7:15 p.m.
In conclusion, Muhurat Trading is an enlightening and culturally rich custom in the Indian stock market. It represents the start of a new fiscal year, when investors hope for success and good fortune in their financial ventures. This short and unique trading session captures the fusion of custom and commerce, generating a distinct environment in the financial markets on this auspicious Diwali day.