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The National Stock Exchange (NSE) on Monday said it will conduct a special Muhurat trading session on Tuesday, October 21, to mark the festival of Diwali.
The symbolic trading session will be held between 1:45 pm and 2:45 pm, the stock exchange said in a circular.
Last year, the special Muhurat trading session was held from 6 pm to 7 pm.
The new session also marks the beginning of a new Samvat (Vikram Samvat 2082) -- the Hindu calendar year that starts on Diwali -- and it is believed that trading during the 'Muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders.
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The market will remain closed for regular trading on Diwali, but a special trading window will be open for one hour.
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The exchange announced that the pre-opening session will take place from 1:30 pm to 1.45 pm.
Market analysts noted that Diwali is considered an auspicious occasion to begin new ventures, and many investors believe participating in the Muhurat trading session brings prosperity throughout the year.
However, with the trading window limited to just an hour, the markets often witness heightened volatility. Analysts added that the significance of the session lies more in its symbolic value than in immediate profitability.
Trading would take place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot, according to separate circulars issued by the bourse.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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