Indian stock markets marked a bright beginning to the Hindu calendar year Samvat 2081, as shares rose during the special one-hour Muhurat trading session on Diwali evening.
The Sensex closed 0.4% higher at 79,688 points, while Nifty ended up 0.4% at 24,300 points, bouncing back from two days of losses. All sectoral indices opened in green, maintaining gains throughout the Muhurat hour, with only Nifty IT showing a marginal dip of 0.02%.
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) conducted trading from 6:00 pm to 7:00 pm, marking the start of Samvat 2081. The pre-market session began at 5:45 pm, allowing investors to place their trades within this auspicious window. During the hour, all market segments, including equities, commodity derivatives, currency derivatives, and equity futures and options, were available for trading.
Muhurat trading has a long-standing tradition on Diwali, with the belief that investments made during this time are destined to bring prosperity. Many also time their purchases of assets like gold, silver, real estate, and electronics to coincide with the auspicious hour.
Trading volumes are generally high during Muhurat sessions, reflecting strong investor sentiment. In recent years, investor participation has surged during this hour, reflecting broader growth in India’s market participation.
“This festive Muhurat session has historically been positive, with markets closing in the red only three times in the last decade,” said Vikram Kasat, Head of Advisory at PL Capital – Prabhudas Lilladher, ahead of Diwali, adding optimism for continued gains in upcoming sessions.
(Inputs from ANI)