Everything you need to know about Diwali Muhurat trading 2023
As the Hindu calendar ushers in Vikram Samvat 2080, stock market investors are gearing up for a prosperous new year. The Vikram Samvat is a lunar calendar observed in India and Nepal, with the new year commencing on the Diwali festival. While the market will be closed on the day of Diwali (Sunday, November 12), both the BSE and the NSE will conduct a Muhurat trading session for one hour.
What is Muhurat trading?
On Diwali, the Indian stock market hosts a special hour-long trading session known as Muhurat trading, which is believed to be a favorable time for investing in stocks. Market analysts believe that starting something new during Diwali is auspicious. It is believed that trading during the 'muhurat' or auspicious hour brings prosperity and financial growth.
Date and timings of Muhurat trading
This year, NSE has scheduled the Muhurat trading session from 6:00pm to 7:15pm. The session will begin with an eight-minute pre-open session from 6:00pm to 6:08pm, and the block deal window will start at 5:45pm. Muhurat trading for commodity and currency derivatives will take place from 6:15pm to 7:15pm, with the option to make trade modifications until 7:25pm to accommodate any adjustments.
Market often ends in green on Muhurat trading days
In the previous year, both the Sensex and Nifty indices increased by 0.88% during the one-hour trading session, whereas in 2021, they each saw a gain of 0.49%. The indices have generally performed decently on this occasion even though the trading volumes are pretty low. In the last 15 years, 12 out of the 15 Muhurat trading sessions ended in the green.
