Diwali 2024 Muhurat trading: Know auspicious time, its significance and more
Muhurat trading, a unique one-hour session coinciding with Diwali and the Hindu New Year, blends financial opportunity with cultural significance. This tradition, practiced since the 1950s and formally established by BSE in 1957 and NSE in 1992, is believed to bring prosperity for the coming year.
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FollowEven though Diwali 2024 is a stock market holiday, muhurat trading gives the festival of lights, sweets, and family get-togethers great significance for Indian investors. The unique Muhurat trading session will take place on November 1 from 6pm to 7 pm. Before the BSE and NSE open for Muhurat trading on Friday, a pre-opening session will take place from 5:45 to 6 p.m. It is seen auspicious to trade currencies, derivatives, and stocks at this time. These are some fascinating facts regarding trade in Muhurat. Muhurat trading coincides with Diwali celebrations and the beginning of the Hindu New Year, Vikram Samvat 2081.One-hour trading combines financial possibility with cultural importance.
As investors trade and hold out hope for riches and success all year long, the Diwali custom of Muhurat trading represents the triumph of light over darkness.
Tradition since 1950sTrading during the Muhurat trading session has been a tradition since the 1950s, when it was officially institutionalized by the Bombay Stock Exchange (BSE) in 1957. The National Stock Exchange (NSE) decided to follow the custom and began opening the Muhurat trading window in 1992, thirty years later.
For many years, muhurat trading has been practiced, and investors have often seen profitable returns during these periods. Remarkably, thirteen out of the previous seventeen Muhurat sessions have seen the BSE Sensex close the special trading session higher.
2008 Muhurat session
During the 2008 Muhurat trading session, which was tainted by the global financial crisis, stock market indexes saw a sharp increase. The largest gain of the session occurred on October 28, 2008, when stock market indexes surged to around 6%. It is said that the stocks purchased during this unique trading session provide investors throughout the Samvat with riches and success.
How does it work?
Muhurat trading generally begins after a person of repute rings the special bell to start the session. Apart from investing in equities, most traders and investors worship the Goddess of Wealth, Lakshmi, during the session. On the day, stock market exchanges are adorned with flowers, lamps, and lights. Traders visit the stock market in traditional attires.
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