Mumbai: For the first time in decades, India’s stock exchanges are changing the timing of one of the market’s most symbolic events — the Diwali Muhurat Trading.
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will hold the special trading session in the afternoon today, between 1:45 p.m. and 2:45 p.m., instead of the usual evening slot.
This marks the beginning of the new Hindu financial year, Samvat 2082.
Muhurat trading has always been seen as an auspicious event that combines faith and finance. Traders and investors believe that making trades during this period brings prosperity and good fortune for the year ahead.
According to the schedule, a pre-open session will begin at 1:30 p.m. on both the NSE and BSE, followed by the one-hour Muhurat trading session.
All trades executed during this period will carry normal settlement rules, meaning delivery and payment obligations will be completed just like on a regular trading day.
Commodity markets will also participate in the festive trading. The Multi Commodity Exchange (MCX) and the National Commodity & Derivatives Exchange (NCDEX) will conduct special Muhurat trading sessions today.
The MCX pre-open session will run from 1:30 p.m. to 1:44 p.m., followed by trading between 1:45 p.m. and 2:45 p.m.
Client code modifications will be allowed until 3:00 p.m. The NCDEX will follow a similar schedule, with its pre-trade session from 1:30 p.m. to 1:45 p.m., and Muhurat trading between 1:45 p.m. and 2:45 p.m.
As per the Diwali trading schedule, on October 22 (Wednesday), the MCX will remain closed during the morning session and reopen in the evening from 5:00 p.m. to 9:00 p.m., while the NCDEX will observe a full trading holiday.
Normal operations on both exchanges will resume on October 23 (Thursday).
Muhurat trading is a long-standing Diwali tradition that began with the BSE in 1957 and was later adopted by the NSE in 1992.
In earlier times, brokers would perform Chopda Pujan, a ritual of worshipping account books, to seek blessings for wealth and success in the new year.
Market experts expect a positive and cheerful Muhurat session this year, with indices likely to remain in the green amid festive enthusiasm and strong investor sentiment.
(IANS)
