BSE announces Diwali Muhurat trading time
BSE on Friday announced that it will conduct a special Muhurat trading session on Diwali festival, on which many traders do token buying, on November 12 from 6 pm to 7:15 pm.
Normal trading would be shut on November 12, which is a Sunday. As Diwali also marks the Day 1 of the Hindu accounting calendar, Samvat, it is believed that Muhurat trading on this day brings wealth and prosperity throughout the year.
On this day traders retain the age-old tradition of executing trades in the special one-hour session, whose timings are decided based on planetary positions, as it is deemed auspicious to start new business activity in the light of diyas and amid colours of rangoli patterns.
History suggests the day hardly disappointed investors, with the BSE Sensex closing higher in 7 of the last 10 such special sessions.
Trading volumes have usually been low as many traders prefer to make token purchases rather than full-fledged trades.
