India's leading stock exchanges, BSE and NSE, would be conducting one-hour Mahurat Trading session on 27 October on the occasion of Diwali.

In separate circulars, the exchanges informed that the session will be held between 6:15 pm to 7:15 pm.

All trades executed in this Diwali Muhurat trading session would result in settlement obligations, NSE said.

The session will mark the beginning of a new Samvat, which is the start of the Hindu calendar year and it is believed that Muhurat Trading brings prosperity and wealth throughout the year.

The exchanges will remain closed on the following day, that is 28 October, on account of Diwali Balipratipada.

Mahurat Trading has been conducted by Indian stock exchanges for years as traders welcome the Goddess Lakshmi. In 2018, the session was conducted between 6:30 pm to 7:30 pm on 7 November.

Since there will be more buy orders than sell orders during the one-hour, markets tend to move upwards.