🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Muhurat trading to mark auspicious start of new financial year

EditorAmbhini Aishwarya
Published 06/11/2023, 12:32
© Reuters.
NSEI
-
BSESN
-

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India are set to hold their traditional Muhurat Trading sessions on the evening of Diwali, November 12, 2023. This symbolic trading event, which marks the beginning of the Hindu accounting year Samvat, is believed to herald prosperity for the upcoming financial year.

The NSE and BSE will host a one-hour trading session from 6:00 PM to 7:15 PM IST on November 12. The NSE's session will also feature a pre-open segment and a block deal window starting slightly earlier. The Commodity Derivatives Segment, Currency Derivatives Segment (including IRD and cross currency derivatives), and Equity Derivatives Segment will have log-in times from 5:15 PM-6:15 PM, with continuous trading from 6:15 PM-7:15 PM. Specific times have also been allocated for trade modifications and annulment requests.

In addition, the Electronic Gold Receipts Segment will allow log-in from 5:00 PM-6:00 PM, a pre-open order entry period at 6:00 PM-6:08 PM, a pre-open matching period at 6:08 PM-6:15 PM, and continuous trading from 6:15 PM-7:15 PM. Fixed closing and post-closing times have been established for this segment.

The Muhurat Trading tradition was reportedly initiated by King Vikramaditya in ancient India and officially recognized by BSE in 1957 and NSE in 1992. Most traders participate in buying stocks during this evening session as it is considered particularly lucky. It is believed that investing during this auspicious hour can lead to significant earnings from small investments.

According to Motilal Oswal, a renowned brokerage firm, this tradition is seen as an auspicious one-hour trading on Diwali, fixed annually by the stock exchange. The ritual pays homage to Lakshmi, the Hindu goddess of wealth and prosperity, and is widely accepted by a diverse group of investors as a fortuitous start to their financial year.

The performance of Sensex, India's benchmark stock index, during Muhurat Trading, is closely watched as a predictor for the coming year's market trends. The Sensex performance history during Diwali Muhurat Trading has shown a mix of gains and losses, setting the tone for the market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.