Monday is Diwali, so the Indian stock market will be closed. But the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will both be open for Muhurat trading for one hour overnight.
According to notices from BSE and NSE, trading in the equities and derivatives segment will begin at 6:15 a.m. and end at 7:15 p.m. on Diwali. This was reported on HT’s sister site Mint. The pre-opening session, on the other hand, will start at 6:00 p.m. and go until 6:08 p.m.
What is Muhurat trading?
The Muhurat trade marks the start of a new “Vikram Samvat,” which is a historical calendar used in the Indian subcontinent. It is also called “Samvat.” According to Hindu mythology, muhurta is the optimal time for beginning any endeavor. The corporate sector usually opens its books at the start of a new “Samvat” year.
Hindus ask Goddess Laxmi to bless them on Diwali. Muhurat trading started on the BSE in 1957, and it started on the NSE in 1992.
The next Samvat, in 2079, looks “much brighter and more promising,” and the Indian economy is at a growth sweet spot and remains the land of stability in the face of a volatile global economy, the company said. research and national brokerage Axis. Values.
Also, the stock market will be closed on Monday and Wednesday because of the Diwali Balipratiprada holiday.