The National Stock Exchange (NSE) announced the timings for the Muhurat Trading Session 2023 on the occasion of Diwali considered auspicious by many investors.
According to the NSE, the Muhurat Trading session will take place on November 12, Sunday. The stock market will open from 6 pm to 7:15 pm on the occasion of Diwali.
Muhurat Trading is an old ritual with symbolic meaning. Many investors in India treat Muhurat Trading as auspicious and believe it will bring them good luck and wealth throughout the year.
This year, the stock market opening dedicated to Muhurat Trading will include an 8-minute window for the pre-open session between 6 PM and 6:08 PM. In addition, the block deal window will open at 5:45 PM and continue till 6 PM. The call auction illiquid session will take place between 6:20 PM and 7:05 PM, while the regular market session will be held between 6:15 PM and 7:15 PM. The trade modification will be allowed till 7:25 PM. Finally, the closing session will be held between 7:25 PM to 7:35 PM.
What is Muhurat Trading?
Muhurat Trading is a special trading session conducted on the occasion of the Diwali festival, India’s biggest and most important holiday of the year. Although the stock market remains closed throughout the festival, it opens for a special one-hour session called Muhurat Trading.
There is a widely-held belief that trading during this one hour is auspicious. It is supposed to bring investors luck and prosperity in the new Samvat. Therefore, investors place orders and buy stocks for themselves and their children during Muhurat Trading Session to hold these assets for the long term, while traders usually book their intraday profits.
The tradition of Muhurat trading was initiated by the Bombay Stock Exchange (BSE) over 60 years ago. The National Stock Exchange (NSE) also eventually embraced this auspicious tradition in 1992. Today, most third-party brokers allow investors to participate in the Muhurat Trading session which typically results in a significant market boost.