BSE, NSE to conduct one-hour Diwali 'Muhurat Trading' on Nov 1

New Delhi: Leading stock exchanges BSE and NSE will conduct a one-hour special 'Muhurat Trading' session on the occasion of Diwali on November 1, marking the start of the new Samvat 2081.

The symbolic trading session will be held between 6 pm and 7 pm, the stock exchanges said in separate circulars.

The session also marks the beginning of a new Samvat -- the Hindu calendar year that starts on Diwali -- and it is believed that trading during the 'Muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders.

The market will remain closed for regular trading on Diwali, but a special trading window will be open for one hour in the evening. The exchanges announced that the pre-opening session will take place from 5:45 pm to 6:00 pm.

Market analysts said that Diwali is considered to be the ideal time to start anything new. Investors are said to benefit from trading during this session all through the year.

Since the trading window is only open for an hour, markets are known to be volatile. The focus might not be on profitability as much as it might be on the gesture, they added.

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.