image credit - PTI
Special Diwali Muhurat Trading Sets Indian Share Market Abuzz
Today, the Indian share market opens briefly in the evening for the annual Muhurat trading session on Diwali. A unique tradition in India, this session celebrates the Hindu New Year, Samvat 2081, following the lunisolar Vikram Samvat calendar, which is 57 years ahead of the Gregorian calendar.
Understanding Muhurat Trading
In Hindu custom, “Muhurat” means an auspicious time. The annual Muhurat trading session, observed by Indian stock traders, is believed to bring good fortune to investors. Today, this hour-long session begins at 6 p.m. on both the National Stock Exchange and the Bombay Stock Exchange, with a pre-opening phase from 5:45 p.m. to 6 p.m. Regular trading hours resume on Monday after Diwali market holidays.
Market Sentiment and Stock Highlights
Despite recent market dips, the festive optimism surrounding trading could create a bullish outlook. Analysts suggest long-term investors focus on large-cap stocks during this period.
Key stocks to watch today include MCX, following Praveena Rai’s recent appointment as MD and CEO, and Reliance, as its joint venture with Walt Disney Co. for Jio received EU approval. Tata Investment Corp and Narayana Hrudayalaya, which reported Q2 earnings post-market on Thursday, may also influence investor decisions.
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