Diwali Muhurat Trading 2023: What to expect today
Diwali Muhurat Trading 2023: The special symbolic trading session will mark the beginning of a new ‘Samvat 2080’.
Diwali Muhurat Trading 2023: Leading stock exchanges BSE and NSE are set to hold a one-hour special ‘Muhurat’ Trading session - a revered tradition - on the occasion of Diwali on Sunday evening. It is considered to be an auspicious window for stock market activity. The session, inclusive of a 15-minute pre-market segment, will occur from 6 pm to 7.15 pm.
The special symbolic trading session will mark the beginning of a new ‘Samvat 2080’ - that marks the beginning of a new Hindu year or Vikram Samvat. This ritual is said to bring wealth and prosperity throughout the year.
What to expect from the Diwali Muhurat trading session?
- Various segments, including equity, commodity derivatives, currency derivatives, equity futures and options, and securities lending and borrowing (SLB), will be open during this time slot for the ‘Muhurat’ trading session.
- The market is expected to be mostly bullish as people are emotion-driven rather than the number on this day.
- Since many people are calculating the new fiscal year during Diwali, businesses of all sizes are expected to buy and sell stock options.
- During this session, is believed that trading 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%.
What happens during Muhurat? All about the 5 stages:
The trading session comprises five sessions - Block deal, pre-open, main trading, call auction, and closing session.
Block deal session is the first phase in which traders commit to buying or selling stocks at a fixed price and inform the stock exchange about it.
Pre-open session is where the stock exchange determines the opening price based on supply and demand. This usually takes place for around eight minutes.
The main trading window is the key part of the Muhurat trading which lasts for approximately one hour.
Call auction session is where illiquid securities (trades involving securities that are not frequently traded) are traded.
Closing session is the last phase where traders or investors can place a market order at a closing price.
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