The beginning of a new Samvat 2079, the Hindu calendar year that begins on Diwali, will be celebrated on October 24 with a one-hour special Muhurat Trading session on the world’s two most prominent stock exchanges, the BSE and the NSE. The stock exchanges announced the time frame for the symbolic trading session in separate circulars: 6:15 PM to 7:15 PM. Muhurat Trading, or trading at the auspicious hour, is thought to bring stakeholders prosperity and financial success.
Trading would take place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot.
Markets are considered to be erratic because the trading window is only open for an hour. New traders should therefore use caution. The act itself could be more important than financial success, Puneet Maheshwari, Director at Upstox, said.
The ideal time to start any new project is thought to be around Diwali. The vast majority of purchase orders across all categories indicate the largely positive market sentiment. Investors are said to benefit throughout the year from trading during this session, he added.
Although 11 of the previous 15 mahurat sessions ended in the green, Upside AI Co-Founder Kanika Agarrwal stated that Muhurat Trading might be favourable for traders. If you go long early in the session then close your positions at the close of the transaction, there may be a case for hope arbitrage.
A strong economic comeback in India and domestic liquidity that will offset FPI (Foreign Portfolio Investors) withdrawals have resulted in Indian stocks outperforming global markets by a significant margin in Samvat 2078. It is projected that this outperformance will continue in Samvat 2079, he added.
