Diwali 2020 Special Trading Time
On the occasion of Diwali on November 14, 2020, BSE and NSE will conduct a one-hour special Muhurat trading from 6:30 pm. The two stock exchanges said in separate circulars that Muhurat trading on Diwali would be from 6.15 pm to 7.15 pm. All trades done in a Muhurat trading session are accompanied by a settlement obligation.
For the uninitiated, stock exchanges in India perform a special one-hour trading session on Diwali, the event of lights, which additionally marks the start of the traditional Hindu accounting year called Vikram Samvat. It is believed that trades conducted in this one hr brings prosperity, wide range and good fortune.
Muhurat trading timings:
Both BSE and also NSE will certainly permit trading for a hour, beginning 6:15 pm. A block offer session will precede this main session and the pre-open session between 5:45 pm to 6:00 pm. Traders have actually been encouraged to login in between 5:15 pm to 5:45 pm.
Significance of Muhurat trading:
Muhurat trading session marks the start of a new Samvat or Hindu fiscal year. Despite all technological innovations such as Algo trading, high-frequency trading and so on stock exchanges have actually been conducting Muhurat trading for greater than six years. The trading area takes into consideration doing profession during Muhurat trading as a promise as it brings true blessings of Goddess Lakshmi, the goddess of wealth and success.
Traders believe that on the night of Lakshmi Pooja, Goddess Lakshmi comes to stay at the place where she is propitiated. According to a BSE agent, that is the reason traders as well as storekeepers remain awake with lights burning all evening to invite Goddess Lakshmi at any time she selects to find.
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BSE, which is the earliest stock exchange in Asia, has been conducting Muhurat trading for over half a century. While BSE has actually been holding muhurat sessions because 1957, NSE is doing it given that 1992. During earlier days when electronic trading was not there, traders utilized to literally come on the BSE floor and trade.
It is worth adding that the exchanges will continue to be shut on the event of Diwali Balipratipada on November 16. Typical trading would certainly resume from Tuesday.