Muhurat Trading 2024: As Diwali 2024 festivities unfold, India’s stock market held its annual Muhurat Trading session, a revered one-hour tradition. Muhurat Trading took place on Friday, November 1, 2024. The Hindu calendar highlights the significance of ‘Muhurat’, an auspicious time to start positive endeavours.
The Stock market closed in the green territory on Friday, November 1, 2024, withholding the traditional culture of Muhurat trading. The Sensex surged 335.06 points to close at 79,724.12 on Friday. Nifty50 index also jumped 94.20 points to end at 24,299.55 level.
On Friday, Sensex gainers were led by Mahindra & Mahindra (M&M), Adani Ports, and Tata Motors. HCL Technologies, Tech Mahindra, Asian Paints, and ICICI Bank were the only Sensex losers.
Notably, Foreign investors withdrew Rs 94,017 crore from Indian equities in October 2024, shows NSDL data.
Muhurat Trading 2024: What It Is?
India’s leading stock exchanges, BSE and NSE, host an annual Muhurat Trading session on Diwali day. The term ‘muhurat’ denotes a propitious moment, and this unique session, spanning about an hour in the evening, marks the commencement of the traditional Hindu accounting year, Samvat. During this session, share market witnesses a strong participation, and market sentiment remains largely positive. This was no exception this time.
The custom of ‘muhurat’ trading session is connected to several faiths. In a long-standing tradition, Gujarati investors purchase stocks during Muhurat, contrasting with Marwari custom, who sell equities, adhering to the belief that money should not be kept at home on Diwali. Currently, this session is largely a symbolic gesture.
What Happens During This Session?
In this special session, many brokers and traders observe the traditional Chopda Pujan ritual. Traders traditionally worship their account books, and trade tools during this period. The one-hour Muhurat Trading session works just like a regular trading day. During Muhurat Trading, investors worship Goddess Lakshmi, and the session ends with a sense of celebration on stock exchange trading floors.
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