Don't just eat Laddoo's this Diwali! Here's to Muhurat trading..
As you know, Indian stock markets are open for trading only until 3:30 pm on weekdays and remain closed on weekends and other holidays.
However, every Diwali, a special one-hour trading session is conducted based on an astrologically defined auspicious time slot. The stock exchange specifies the time of Muhurat trading every year. This year, this special session will be from 6:15 p.m. to 7:15 pm on November 4th, which is beyond the normal trading hours. Trading during this hour is called “Muhurat Trading”
“The word "Muhurat" means an auspicious time. Muhurat trading is believed to bring prosperity and wealth throughout the year.
Watch this video to understand this better..
Now the interesting part is that this one-hour trading holds a historical significance. This ritual is being performed ever since 1957 - more than half a century now. Diwali marks the start of Samvat 2078 based on Hindu calendar year - a new accounting year for many stockbrokers.
CA Shikha Rao says....
“Since there is only a one-hour time slot, it is recommended to consider investing, not trading, unless the market fundamentals suggest otherwise. Look for high-quality companies and purchase some stocks with a long-term horizon and in sync with your investment plan"
Disclaimer:
Now the interesting part is that this one-hour trading holds a historical significance. This ritual is being performed ever since 1957 - more than half a century now. Diwali marks the start of Samvat 2078 based on Hindu calendar year - a new accounting year for many stockbrokers.
