Stock markets will open for an hour on Thursday for Diwali special Muhurat tradition session. Stock markets remain closed on Diwali but open for this special window every Diwali evening, marking the beginning of Samvat 2078, the Hindu New year. This is an auspicious moment for business communities to open their books of account.
This year, the Muhurat trading session will begin at 6.15pm and end at 7.15pm. The pre-open session will be held from 6pm to 6.15pm. The closing session will be held between 7.25pm and 7.35pm.
For stock markets, Muhurat trading is a symbolic ritual. For the BSE, the practice started in 1957 and for the NSE, the practice stayed in 1992. Last year, the special Muhurat trading session was held on November 14. The Muhurat trading session saw BSE Sensex ending at 43,638, while the NSE closed at 12,771.
What do to for Muhurat trading
According to experts, investors may make toke purchase of an initial investment that could deliver a long-term return on their investment. Buying reliable and quality stocks at some reasonable valuations is another option for investors. Since the Muhurat trading has a symbolic connotation of a year yielding good business, investors want to make some profit on this day. But overtrading should be avoided, according to experts.
What not to do in Muhurat trading
Placing large orders should be avoidable as this is a short trading session of one hour. Investors are advised to not lose focus because of the festivity all around. Investment philosophy of buying companies with good models, honest management teams should be kept in mind.
How Samvat 2077 ended
The domestic markets closed Hindu calendar year Samvat 2077 with stellar gains. The Sensex rallied 16,133.94 points or 36.97 per cent, while the Nifty soared 5,048.95 points or 39.50 per cent. Sun Pharma was the top laggard in the Sensex pack, falling 3.06 per cent, followed by IndusInd Bank, Kotak Bank, Bharti Airtel, ICICI Bank, M&M and HDFC Bank.
On the other hand, L&T, UltraTech Cement, Asian Paints, SBI, Tata Steel and Bajaj Finance were among the gainers, spurting as much as 3.99 per cent.
(With agency inputs)
