Special Live Trading Session: The stock market will be open for 1 hour on November 1, 2024, an auspicious day for Laxmi Pujan, in the Diwali festival. Officially, November 1 is a public, bank, and stock market holiday. However, just for one hour, the trading window will be opened for investors to buy/sell. In generic terms, this special live trading session is called Muhurat Trading.
Muhurat Trading 2024:
As per the BSE and NSE website, Muhurat Trading shall be held on November 01, 2024 (Diwali - Laxmi Pujan).
However, the timings of the Muhurat Trading will be notified subsequently.
During this one-hour special muhurat live session, trading will be allowed in equity, equity derivatives, derivates, commodities, bonds, and the current market on BSE and NSE. The 1-hour session will have its pre-and-post-market settlements as well.
In simple words, in that one hour, the market will be opened just like its regular trading days.
Last year, Muhurat Trading took place on November 12, 2023, and the timings were 6:15 pm to 7:15 pm. There were 15 minutes of pre-and-post-market settlement sessions. Overall, the market was open from 6 pm to 7.30 pm.
Why does Muhurat Trading Take Place On Laxmi Pujan?
As per Kotak Securities website, the event finds its place as the auspicious stock market trading, which is conducted for an hour on Diwali, by the stock market exchanges. The practice is in line with the traditions of traders who used to begin their commerce on the festival day by paying obeisance to the goddess of wealth, Lakshmi.
Also, the brokerage's note said that it also holds importance in the investing world as the session kick-starts the new Samvat each year. This is the year that starts on Diwali according to the Hindu calendar.
Benefits of Muhurat Trading:
As per Religare Broking's website, the following are the benefits of Muhurat Trading:
1. Auspicious Start: According to the Hindu calendar, The session is considered an auspicious beginning to the new financial year. This emotional uplift can positively impact your trading mindset throughout the year.
2. High Liquidity: Due to its popularity and the volume of traders participating, there's generally high liquidity in the market during this session. This makes it easier to buy and sell stocks at favourable prices.
3. Quality Research: In the lead-up to the trading session, various financial institutions and analysts released special research reports. These provide valuable insights into market trends and can guide your investment decisions.
4. Diverse Investment Options: Financial institutions often launch new schemes and products on this occasion. This allows investors to diversify their portfolios or start new investments on a favourable note.
5. Psychological Benefits: The blend of spirituality and finance serves as a reminder that ethical and mindful trading is the path to long-term success. It sets a tone for the trading activities for the coming year, encouraging traders to adhere to best practices.
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