Diwali Muhurat Trading 2022: Are You Ready For This Auspicious Hour?
- Stocks Updates
Sahil Patil- 0
- 4 minutes read
Diwali Muhurat Trading 2022 is going to be live on Monday, October 24, 2022. On this day, you will be able to trade stocks for one hour as the Indian stock market would be closed for the entire day observing the public holiday for Diwali. For the important details, read the paragraphs below.
Important Details About Diwali Muhurat Trading 2022
The Diwali Muhurat Trading 2022 will be live from 6:15 p.m. to 7:15 p.m. strictly on the above-mentioned date. This Muhurat trading time has been chosen according to the information that has been gathered from the Hindu Panchang. The information noted here was revealed in a notice that was rolled out for equity and derivative stock trading on the BSE and NSE on that day. On the other hand, the pre-market trading session will go on from 6:00 p.m. till 6:08 p.m.
Therefore, Muhurat stock trading is considered to be prosperous and after this hour Hindus generally worship Goddess Laxmi to attain her blessings and good luck. This stock trading practice originally started on the BSE in 1957. Years later, NSE adopted the same thing in 1997 for supporting the religious beliefs of Hindus on the occasion of Diwali.
The concept of Muhurat trading has been introduced to recognize the start of a new Samvat with the new year as per the Hindu calendar. During this time the traditional business community is known to open new books of accounts. Also, this timing is considered to be auspicious to do something new or good as this is what Muhurat means in terms of Hindu astrology.
According to a statement by Axis Securities, an Indian domestic brokerage and research organization, quoted by Mint, the Samvat 2079 is going to be much brighter. They noted that after the downfall of the Indian economy and the stock market in recent times, this might be a time that would actually bring prosperity. They believe that the country still is standing against the volatile extreme conditions in the economies globally. Also, the firm said that the Indian stock market might sustain such a performance during Samvat 2079, Moreover, the stock market is expected to see a line of favourable macroeconomic factors.
On the other hand, HDFC Securities, another brokerage firm quoted by Mint, stated their opinion on Diwali Muhurat trading session saying:
“In Samvat 2079, volatility could continue, though at a slower pace, being close to a peak in the rate hike cycle. The resumption of growth at the global level and particularly on the domestic front is required to shake off the sluggish mood and get back on the path of a sustained uptrend in the markets."
The Indian stock market will be closed on October 24, 2022 (would be just open for an hour due to the Muhurat trading activity) and October 26, 2022, for Diwali Laxmi Pujan and Diwali Balipratipada festivities, respectively.
