Samvat 2080 Muhurat Trading: Top stock picks, trading duration and more
Samvat 2080 Muhurat Trading: This limited-time session, encompassing a 15-minute pre-market period, offers investors a strategic window for transactions during this symbolic trading interval.
Sunday, November 12 marks the beginning of Samvat 2080. In the stock market, the commencement of any Samvat is marked by Muhurat Trading. The one-hour trading session is seen as a promising opportunity to invest in stocks, and many traders accept that it can bring abundance and prosperity.
Trading Time on Diwali
Muhurat Trading on Diwali kicks off at 6 pm, lasting until 7.15 pm, as outlined by notifications from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This limited-time session, encompassing a 15-minute pre-market period, offers investors a strategic window for transactions during this symbolic trading interval.
Purpose of Muhurat Trading
Rooted in tradition, Muhurat Trading has been a longstanding practice in the stock market on Diwali. Deviating from regular trading hours, exchanges open for a special one-hour session in the evening, creating an auspicious environment for investors. Participating in the share market during this time is considered highly propitious, emphasizing investment over active trading. The tradition originated in BSE in 1957 and extended to NSE in 1992.
Top Picks by Financial Platforms
HDFC Securities has asked investors to be wary about global conflicts, inflation, and rising bond yields. The stockbroking platform's top picks include Dr Reddys Laboratories Ltd (Pharmaceuticals) (Current Market Price: Rs 5,345.35, Buy Range: Rs 4,850-5,400, Target: Rs 6,250), Equitas Small Finance Bank (Small Finance Bank) (Current Market Price: Rs 91.35, Buy Range: Rs 82-92, Target: Rs 112), GAIL (India) (Gas Transmission/Marketing) (Current Market Price: Rs 118, Buy Range: Rs 106-120, Target: Rs 140), Godrej Industries (Diversified) (Current Market Price: Rs 621, Buy Range: Rs 555-624, Target: Rs 735) and Grasim Industries (Cement & Paints) (Current Market Price: Rs 1,878.3, Buy Range: Rs 1,700-1,925, Target: Rs 2,275).
According to Kotak Securities, the market will scale new heights the coming year. Its top picks include Canara Bank (Current Market Price: Rs 384, Target: Rs 425), Reliance Industries (Current Market Price: Rs 2,288, Target: Rs 2,725), Cipla (Current Market Price: Rs 1,200, Target: Rs 1,320), Cyient (Current Market Price: Rs 1,589, Target: Rs 2,000) and Godrej Consumer Products (Current Market Price: Rs 992, Target: Rs 1,135).
Market Performance in Samvat 2079
Examining past performance, benchmark indices Sensex and Nifty witnessed gains of 0.88% during the one-hour Muhurat Trading session in the previous year and 0.49% in 2021. While past results don't guarantee future outcomes, these positive trends hint at the potential profitability associated with Muhurat Trading, providing investors with a unique Diwali opportunity.