 "Why 'Muhurat Trading' is a must, and what the tradition holds for investors")
Muhurat Trading 2024: The festive season of Diwali, which is eagerly awaited by investors and traders alike, is often viewed as an auspicious time for financial activities. Investors are hyped for the Muhurat Trading 2024 session that will be conducted today, November 1, 2024. In the lead-up to Diwali, brokerage houses traditionally provide stock recommendations for the upcoming Samvat year. Investors use these to trade their favourite stocks and hoping for a favourable outcome.
Muhurat Trading is an auspicious and culturally significant session held yearly on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India, on the festival of Diwali.
The term 'muhurat' signifies an opportune moment to start new projects or make financial decisions, and this special trading session for equities, which lasts about one hour in the evening, marks the beginning of the traditional Hindu accounting year known as Samvat.
Why is Muhurat Trading Important?
Muhurat Trading is more than just a trading session; it embodies a blend of cultural significance and financial opportunity. Muhurat Trading represents a fresh start for investors, both spiritually and financially. As the Hindu community celebrates Diwali, a festival that symbolises the victory of light over darkness, investors engage in trading to welcome prosperity and success in the coming year. This tradition helps set a positive tone for the financial year ahead.
Additionally, traditional practices reflect cultural dynamics, with Gujarati merchants typically buying shares and Marwari traders selling, rooted in the belief that money should not be kept at home during the festival. This influx of activity can lead to favourable market conditions, benefiting those who trade during this period.
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What traditions hold?
Prior to the commencement of the Muhurat Trading session, many brokers and traders participate in the Chopda Pujan ritual, where they worship their account books and trading tools. This ritual is essential for invoking blessings for a prosperous financial year.
The trading session itself operates like a standard market day. Investors can execute trades, buying and selling stocks as they normally would. However, the atmosphere is charged with a celebratory spirit. Many investors also perform Lakshmi Pujan, a sacred ritual dedicated to Goddess Lakshmi, the deity of wealth and prosperity. The session concludes with celebrations on the trading floors of major stock exchanges, further emphasising the festive mood.
Timings of the Session
This year, Muhurat Trading is scheduled for Friday, November 1, 2024. The timings are as follows:
Pre-Open: 5:45 PM to 6:00 PM
Normal Market: 6:00 PM to 7:00 PM
Closing Session: 7:10 PM to 7:20 PM