Vikram Samvat is a lunar calendar followed in India and Nepal. The new year begins with the festival of Diwali. As per the Gregorian calendar, Samvat 2080 started on November 12. In the stock market, the commencement of Samvat 2080 is marked by muhurat trading.
What is Muhurat trading?
Muhurat trading is basically an hour-long trading session that is convened on the day of Deepawali in the Indian stock market. It is considered an auspicious time to invest in stocks.
The National Stock Exchange (NSE) has announced that the stock market will be open from 6 pm to 7:15 pm on Diwali for the Muhurat trading session on November 12.
The trading session includes an eight-minute window for pre-open session between 6 pm and 6:08 pm. The block deal window will open at 5:45 pm on November 12.
The Muhurat Trading in the commodity and currency derivative segment will occur from 6:15 pm to 7:15 pm. But trade modification will be available until 7:25 pm to accommodate any changes.
Why is Muhurat trading significant?
Muhurat trading is considered an auspicious occasion for traders and investors to begin new ventures and invite prosperity into their financial initiatives. It is believed that trading during this ‘Muhurat’ or auspicious time can bring wealth and success.
Last year, both the Sensex and Nifty indices rose by 0.88% during the one-hour trading session, while in 2021 they each gained 0.49%.