1 week Ago By Arjit Saxena
The National Stock Exchange (NSE) will host its annual Diwali Muhurat trading session on Friday, November 1, 2024, from 6:00 PM to 7:00 PM, marking the auspicious start of the new financial year and to commemorate the beginning of the Hindu calendar year Samvat 2081. The regular trading will be closed, but this special one-hour session provides a symbolic start to the fiscal year. As per the NSE's circular, "a special live trading session shall be held on Friday, November 01, 2024 on account of Muhurat trading on Diwali as per the following schedule:" According to the NSE, the pre-opening session will take place between 5:45 PM and 6:00 PM, followed by the Muhurat trading window.
This custom is significant in India's financial industry, as many investors believe that trading during this session will bring them success in the future year. It also offers the option to diversify investments and open new settlement accounts. The equity indices have done well during Muhurat sessions.
Although trading volumes are often modest during this one-hour period, sentiment is generally positive. One major exception occurred in 2008, amid the global financial crisis, when the Sensex increased by 5.86% in a single hour, although the market remained range-bound for the remainder of the year.
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