Indian stock markets remained closed on Diwali for normal trading but 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 in 2020 too on Diwali (November 14). The Muhurat trading session is scheduled to start at 6:15 and it will end at 7:15. There will be pre-open Muhurat Session from 6:00 pm to 6:08 pm and a post-closing Muhurat Session between 7:25 pm and 7:35 pm.
Significance 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.
It is widely believed that the one-hour Muhurat trading is the perfect time for millennials to enter the market. 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.
Meanwhile, markets closed in the green on Friday (November 13) tracking recovery in financial stocks amid mixed cues from global markets.
The 30-share BSE Sensex ended 85.81 points or 0.20 percent higher at 43,443. The broader NSE Nifty rose 29.15 points or 0.23 percent to 12,719.95.