As the name implies, it is a fortunate hour when investors from all over the country come together to invest. It is a tradition carried on by traders who used to start their business on the festival day by paying homage to the goddess of wealth, Lakshmi. Muhurat trade is a Gujarati culture, and Gujaratis are the most powerful investors on Dalal Street. The significance of Muhurat trading has been observed for centuries. This one-hour Muhurat trading is usually thought to be an auspicious time for traders to enter the market. Many investors think that the planets are aligned during the Muharat occasion in such a way that trading done during this time is free of the influence of bad forces, and anyone investing in the market at this period is more likely to have a profitable outcome.
The Bombay Stock Exchange and National Stock Exchange determine the timing of Muhurat trading. A set amount of time is allotted for trading. People who trade during this one hour, according to legend, have a better chance of accumulating wealth and prospering throughout the year. Most people opt to buy stocks as a gift to Goddess Lakshmi during this period.
In addition to stock exchanges, commodity exchanges offer Muhurat trading for investors. For the business community, the new fiscal year begins with Diwali, when they perform the ‘Chopda or Sharda Puja,’ in which old account books or ledgers are closed and new ones are opened.
This year, stock exchanges will hold the customary one-hour special ‘Muhurat’ trading between 6:15 p.m. and 7:15 p.m. on 4th November. The block deal session will take place from 5.45 p.m. to 6 p.m and the pre-open session will begin at 6 p.m. and end at 6:08 p.m.
On the Muhurat trading day, the sensex usually closes higher.
Today, Muhurat commerce has become more of a symbolic gesture because people feel the period is auspicious. The planets are thought to be aligned in such a way during this Muhurat that it delivers success to the investors. Many traders keep stocks purchased on this occasion as lucky charms.
As an end, if you’ve never invested in stocks before, Diwali might be a fantastic time to start.