Diwali, the festival of lights, brings a special tradition in the financial world – the Diwali Muhurat Trading 2023. This auspicious occasion holds immense significance in India, especially for the trading community. Scheduled during the Diwali festival, Muhurat Trading marks the beginning of the Hindu accounting year and is believed to bring prosperity and wealth. In 2023, this tradition continues to hold its cultural and economic significance, drawing traders, investors, and NRIs together for a brief but highly anticipated session.
Date and Time of Diwali Muhurat Trading 2023
Diwali Muhurat Trading 2023 falls on November 12th. Both BSE and NSE have confirmed that the trading window is scheduled for this evening, running from 6:00 p.m. to 7:15 p.m. It’s a short but vital window for making symbolic trades and seeking blessings for the year ahead.
Also read: Diwali Celebrations for NRIs 2023
Diwali Muhurat Trading Time 2023
| Event | Time |
| Pre-Open Session | 6:00 PM – 6:08 PM IST |
| Muhurat Trading | 6:15 PM – 7:15 PM IST |
| Post-close | 7:30 – 7:38 PM IST |
| Market Close | 7:40 PM IST |
Diwali Muhurat Trading Session 2023
| Muhurat Trading 2023 | Start Time | End Time |
| Equity | 6:00 PM | 7:15 PM |
| Derivatives (F&O) | 6:30 PM | 7:15 PM |
| Currency | 6:15 PM | 7:15 PM |
| MCX | 6:15 PM | 7:15 PM |
What happens during Muhurat Trading?
Muhurat Trading, permitted by both the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange) during Diwali, consists of 5 segments:
- Block Deal Session: Involves two parties agreeing on buying or selling a security at a fixed price, reported to the stock exchange.
- Pre-Open Session: The exchange determines the equilibrium price within roughly eight minutes.
- Normal Market Session: A one-hour trading period.
- Call Auction Session: Facilitates trading of illiquid securities based on exchange criteria.
- Closing Session: Allows traders and investors to place market orders at the closing price.
Importance of Muhurat Trading in Diwali
The word ‘Muhurat’ signifies an auspicious time, and Muhurat Trading is considered highly propitious for the financial markets. It’s believed that investments made during this time carry the blessings of the Goddess of Wealth, Lakshmi, bringing good fortune and prosperity to the investors. Traders often engage in symbolic trades, buying stocks or making investments, aiming to kickstart the year positively.
Also read: 5 Financial Lessons From Diwali for NRIs
Traditions and Practices of Muhurat Trading
For over 50 years, Muhurat Trading has been a customary practice on Indian stock exchanges. Initiated by the Bombay Stock Exchange (BSE) in 1957, this tradition was later adopted by the National Stock Exchange (NSE) in 1992. Since then, this special trading session has become an integral part of Diwali celebrations.
Traditionally, Diwali signaled the start of the fiscal year for stockbrokers, prompting the initiation of new settlement accounts during the auspicious Muhurat. Brokers observed the ritualistic Chopda Pujan, worshipping their account books during Diwali.
Market Expectations
While the actual trading time is short, the anticipation and fervor among traders are palpable. It’s a moment when market sentiments are often positive, and investors expect an auspicious start to the new financial year. The hope for a bullish market during and after Muhurat Trading is common.
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FAQs
What is Muhurat Trading 2023?
- Muhurat trading is an auspicious trading occasion that is celebrated on the occasion of Diwali. The trading opens for an hour and traders can buy/sell stocks during this period.
How can NRIs participate in Muhurat Trading 2023?
- NRIs can make investments across different options like mutual funds and PMS to participate in Muhurat Trading.
