- National Stock Exchange will hold Diwali Muhurat trading on Oct 21 from 1:45 pm to 2:45 pm
- All trades in the Muhurat session will result in settlement obligations
- The session marks the start of the Hindu calendar year Vikram Samvat 2082 on Diwali
The National Stock Exchange (NSE) of India will hold a special Diwali muhurat trading session on Oct. 21, according to a circular issued by the bourse on Monday.
The trading session will commence at 1:45 pm, and last for an hour, according to the NSE circular. The ending time is stated as 2:45 pm.
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Additionally, the trading modification end time is stated as 2:55 pm. "All trades executed in this Diwali Muhurat trading session shall result in settlement obligations," the circular further said.
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The BSE is also expected to conduct a special 'muhurat session' on the ocassion. The timings are yet to be announced.
The session marks the beginning of a new Vikram Samvat 2082 — the Hindu calendar year that starts on Diwali. It is believed that trading during the auspicious hour will bring financial growth and prosperity for the stakeholders.
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 sentimental value.
What Happens In Muhurat Trading?
During Diwali, the NSE and BSE conduct the Muhurat trading session. The session comprises of:
Block Deal Session: In this initial phase, traders commit to buying or selling a security at a predetermined price, which must be reported to the stock exchange.
Pre-Open Session: Also known as the 'Call Auction,' this is when the stock exchange calculates the opening price based on supply and demand, a process that usually takes around eight minutes.
Main Trading Window: This is the core of the Muhurat trading, lasting for approximately one hour, where the bulk of transactions are executed.
Call Auction Session: During this part of the session, trades involving securities that are not frequently traded, known as the 'illiquid', based on the specific criteria outlined by the exchange.
Closing Session: In this stage, traders and investors are allowed to place orders at the market's closing price.
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