Following the half-century-old tradition, this year too, on November 4, the stock market will be closed for trading all day, except for an auspicious hour on Diwali. The one-hour special Muhurat Trading session for Equities, Equity F&O, Currency F&O, and Commodities for Diwali 2021 will be executed between 6:15 PM and 7:15 PM. Before the one-hour-long session begins, the 5:45 PM-6 PM window is reserved for the block deal session, followed by the pre-open session between 6 PM and 6:08 PM.
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Muhurat Trading session is organized on Diwali to mark the advent of a new year according to the Hindu Calendar, also known as the Samvat Vikram Calendar. (Representative Image: Shutterstock)Last year, the special Muhurat trading session was held on November 14. The ritual followed by traders and investors has been around since 1957 when for the first time Bombay Stock Exchange (BSE) reserved an hour on Diwali for stock trading. The National Stock Exchange (NSE) followed suit and permitted trading for an hour on Diwali in 1992.
According to popular belief, the ‘Muhurat’ is a pious occasion and a time when any task or deal done churns fruitful results and leads to prosperity. Moreover, the one-hour trading window is a way the community pays tribute to Goddess Laxmi, the Hindu deity of wealth and prosperity.
Apart from the religious aspect, the Muhurat Trading session is organized on Diwali to mark the advent of a new year according to the Hindu Calendar, also known as the Samvat Vikram Calendar.
According to past observations, equity indices have always ended with positive climbs during the Muhurat trading session, although the stock movement is less, accompanied by a very low trading volume.
In the year 2020, the Muhurat trading session saw BSE Sensex ending at 43,638, citing a rise of 195 points, while the NSE closed at 12,771, citing a rise of 51 points.
The highest climb during the Diwali Muhurat trading session was in 2008 when traders and investors witnessed Sensex proliferating by 5.86%. This year, on November 4, people are expecting to close the market on a positive note, just like every year.
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