There is a tradition of Muhurta trading in the Indian stock market on the occasion of Diwali. Although there is a holiday in the stock exchange on this day, but even on the holiday, it is opened only for one hour especially in the evening, which is called Muhurta trading.
On this occasion itself, a one-hour special Muhurta trading session will be organized on the stock exchanges BSE and NSE on 1 November 2024 i.e. Friday from 6 pm to 7 pm. Pre-opening session on Muhurta trading will be from 5.45 pm to 6 pm.
The Muhurta trading time slot will also see trading in multiple segments such as Equity, Commodity Derivatives, Currency Derivatives, Equity Futures & Options, and Securities Lending and Borrowing (SLB). BSE-NSE had announced this in separate circulars on October 20.
There was a decline in the stock market yesterday
Diwali was celebrated on 31 October (Thursday) in many cities of the country. However, there was no market holiday yesterday, so trading took place in it. Sensex fell 553 points and closed at 79,389. At the same time, Nifty also declined by 135 points, it closed at the level of 24,205. Today is Diwali holiday in the stock market, but like every time on this occasion, the market will remain open for 1 hour for Muhurta trading.
On normal days the market opens from 9:00 am to 3:30 pm from Monday to Friday. Pre market session takes place from 9:00 to 9:15. Then normal session till 3:30 pm.
Last year the market had closed with an increase of 354 points
Last year, in the Muhurta trading session, the Sensex closed at 65,259.45 with a gain of 354.77 points (0.55%). Nifty also had a rise of 100.20 points, it closed at the level of 19,525.55. If we talk about the last 5 years i.e. 2019 to 2023, the stock market has closed with gains every time. The Sensex closed with an increase of 525 points in the year 2022, 295 points in 2021, 195 points in 2020 and 192 points in 2019.
Muhurta trading tradition is about 68 years old
The tradition of Muhurta trading on Diwali in the stock market is about 68 years old. According to the Hindu calendar year, Hindu Vikram Samvat year 2081 is starting from the day of Diwali this year. Throughout India this festival is considered the most auspicious time to welcome wealth, prosperity and good fortune. Similarly, a similar concept is associated with this Muhurta trading also. Stock market investors consider this day very special to start investing.
Muhurta trading is considered auspicious
In Hindu customs, Muhurta is a time when the movement of planets is considered favourable. Starting any work during the auspicious time ensures its positive results. That is why on the auspicious time of Diwali, when the stock market opens for an hour, many people of Hindu religion start their investments. Most people like to buy stocks as a symbol of Goddess Lakshmi. According to beliefs, people who trade during this one hour have a better chance of earning money and achieving prosperity throughout the year.
5 things that stock market investors should keep in mind…
1. Maintain discipline
Making dramatic changes to a portfolio increases risk. Such a habit can have a negative impact on long-term goals. It would be better to ignore the immediate fluctuations in the market and maintain discipline. If changes in the portfolio feel necessary then make small changes.
2. Keep tracking investments
When you invest in multiple types of assets, you may not be tracking all investments regularly. In such a situation, it will be difficult to respond accurately to changing market trends. So if you are unable to track your investments, take the help of a trusted financial advisor.
3. Do not sell shares at loss
Ups and downs are the nature of the stock market. Investors should not panic due to the decline in the stock market. Even if you have invested money in the stock market and have incurred loss in it, you should still avoid selling your shares at a loss, because there is hope of recovery in the market in the long term. In such a situation, if you hold your shares for a long time, your chances of loss will be reduced.
4. Diversify your portfolio
Portfolio diversification is a good way to maintain stable investment value in a volatile market. Diversification means dividing investment among different assets according to risk appetite and goals. Its advantage is that if one asset (like equity) is falling, the simultaneous rise in another asset (like gold) will minimize the loss.
5. Stock basket will be right
In this you create a basket of shares and invest in all these shares. That means, if you want to invest a total of Rs 25 thousand in these 5 shares, then you can invest Rs 5-5 thousand in each. This reduces the risk.
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Also read this market related news…
There was a decline in the stock market on the day of Diwali: Sensex fell by 553 points and closed at 79,389, Nifty fell by 135 points; IT shares fell the most
There was a decline in the stock market on 31st October, the day of Diwali. Sensex fell 553 points and closed at 79,389. At the same time, Nifty also declined by 135 points, it closed at the level of 24,205. Out of 30 Sensex stocks, 22 saw a decline and 8 saw a rise. Out of 50 stocks of Nifty, 34 stocks declined and 16 stocks rose. Read the full news…
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