Diwali Muhurat trading session on November 1: Check timings
What's the story
The National Stock Exchange (NSE) has announced its annual Diwali Muhurat trading session for November 1, 2024. The special one-hour session will be held from 6:00pm to 7:00pm ushering in Samvat 2081, the new year in the Hindu calendar. The tradition is deemed auspicious for starting new business ventures, and has historically delivered positive returns for investors.
Trading details
Pre-opening session and historical performance
The NSE has also announced that a pre-opening session will be held from 5:45pm to 6:00pm. This special trading tradition, which is based on planetary positions, is observed amid the festive cheer of Diwali. Notably, the BSE Sensex has closed higher in 13 out of the last 17 special sessions, showing a trend of positive returns for investors during this time.
Market sentiment
Muhurat trading's significance and investor beliefs
Muhurat trading holds immense significance as it marks the beginning of the financial new year for Indian stockbrokers. Many investors believe that buying stocks during this session, brings prosperity for the year ahead. The event also gives traders a chance to diversify their portfolios and open new settlement accounts, adding to its importance in the financial market.
Ritual significance
Muhurat trading and Laxmi Puja
The Muhurat trading session falls on Laxmi Puja, a ritual that marks wealth and prosperity. However, participants must note that all the intraday positions will be automatically squared off 15 minutes before the session ends, so those involved in same-day trades should plan accordingly.