In view of Diwali festival, the stock market remains closed all day except for one hour for the Muhurat Trading session. According to beliefs, the Muhurat trading brings wealth and prosperity throughout the following year. Before the Muhurat Session begins, traders perform Chopra Pooja in which accounting books are worshipped.
Muhurat trading started at BSE in 1957, taking queue from the two prominent business communities, Gujaratis and Marwaris, who have a century-old tradition of performing pooja of their ledgers and wealth chest every Diwali. NSE has been holding it since 1992. Both BSE and NSE permit trading for one hour on Diwali evening.
This year the Muhurat Trading will start at 6:15 pm and last till 7:15 pm on November 14. 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.
Muharat Session is defined as “Muhurat is an occasion in which the investing and trading communities pay tribute to goddess Lakshmi, the benevolent deity of wealth and prosperity, and celebrate the start of ‘Samvat’ or the New Year. According to the Hindu calendar, Muhurat is considered an auspicious time. And during this hour the planet set themselves in such a way that work done during this time gives good result and prosperity,” Jaikishan Parmar, Senior Equity Research Analyst of Angel Broking Ltd, was quoted as saying by CNBC TV18.
The market is usually bullish during Muhurat trading owing to the optimism of the traders. But Parmar advises traders to perform due diligence before investing their money. “The trader must have identified the correct trade set up for profit. Just because it is Muhurat session investors should not buy stock, which is not backed by fundamental and focused management,” cautioned Parmar.
Muhurat Trading Session Timings 2020:
Block Deal Session: 5:45 pm to 6:00 pm
Pre-open Muhurat Session: 6:00 pm to 6:08 pm
Muhurat Trading Session: 6:15 pm to 7:15 pm
Call Auction: 6:20 pm to 7:05 pm
Post-closing Muhurat Session: 7:25 pm to 7:35 pm
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