MCX (Multi Commodity Exchange of India) has announced that it will hold a special Muhurat Trading on Saturday 14 November 2020 on the occasion of Diwali (Laxmi Poojan Day). Contracts of all commodities will be available for Muhurat Trading on the day, the exchange said.
The market timings for MCX Muhurat Trading session on 14 November 2020:
- Special Session: 6:00 pm to 6:14 pm
- Trading Session: 6:15 pm to 7:15 pm
- Client Code Modification Session: 7:15 pm to 7:30 pm
What is the Mahurat Trading?
Exchanges in India, including NSE and BSE, hold special trading on the occasion of Diwali and this is called the Mahurat Trading session. The session, which lasts for an hour, is considered auspicious to make purchases and begin the traditional Hindu accounting year, called Samvat. It is believed by the Hindu community that buying small quantities of shares on this occasion can bring the blessings of Goddess Lakshmi, the goddess of wealth and prosperity, throughout the Samvat year.
Historically, the market momentum is positive during the Mahurat Trading and is become a symbolic ritual for the Indian trading community for over half a century.