New Delhi: Indian stock markets remain closed on Diwali for normal trading. However, the Indian bourses will open on the occasion of Diwali (October 24) for one hour for the Muhurat Trading session, offering investors a chance to rake in quick money on the festival day.
History of Muhurat trading
The practice of Muharat trading started way back in 1957 when it was decided that trading should be done at Bombay Stock Exchange on Diwali to tap the benefits of ‘Shubh Muharats’ or auspicious times. There is common belief that Muharat trading brings prosperity and wealth. It is to be noted that people of Dalal Street switch to a new accounting calendar on Diwali day.
Significance of Muhurat trading
Many traders believe that during Muharat occasion, the planets are aligned in such a manner that the trading or any other work done during this time is free from the influences of evil forces and anyone who invests in market during this time is more likely to see a rewarding outcome. This is one of the main reasons why buying and selling of stocks during Muharat trading hour is believed to result in prosperity and wealth.
Diwali 2022: Muhurat trading timings
It is to noted that the one-hour special Muhurat trading session is conducted annually on the auspicious day of Diwali. Keeping up with the tradition, BSE and the NSE will conduct Muhurat trading session on Diwali (October 23). As has been generally practised, this year too the Muhurat trading session is scheduled to start at 6:15 and it will end at 7:15.
Diwali Muhurat Trading Session Timings
Nomral Market Open - 6:15 pm
Normal Market Close - 7:15 pm
Set up cut-off time for Position Limit/ Collateral value - 7:25 pm
Trade modification end time - 7:25 pm
Meanwhile, Sensex and Nifty defied gravity for the sixth session on the trot on Friday as healthy corporate earnings and fresh foreign fund inflows offset negative cues from global markets. Recovering after a sharp sell-off in later afternoon trade, the 30-share BSE Sensex ended 104.25 points or 0.18 per cent higher at 59,307.15. Similarly, the broader NSE Nifty rose 12.35 points or 0.07 per cent to 17,576.30.
