Major stock exchanges BSE and NSE will hold a one-hour special Muhurta trading session on Monday, marking the beginning of a new Samvat 2079 – the Hindu calendar year that begins with Diwali.
The stock exchanges, in separate circulars, said that the symbolic trading session would be held between 1815 hrs and 1915 hrs.
It is believed that doing business during ‘Muhurta’ or auspicious time brings prosperity and financial growth for the stakeholders.
Puneet Maheshwari, Director, Puneet Maheshwari said, “Diwali is considered to be the ideal time to start anything new. The market sentiment is quite positive, with buy orders in most sectors. Investors can trade throughout the year during this session. is said to benefit from.” In Upstox, said.
Since the trading window is only open for one hour, the markets are considered volatile. So new traders should be cautious. He said the focus may not be on profitability as much as it could be on gesture.
Trading will take place in different sectors like Equity, Commodity Derivatives, Currency Derivatives, Equity Futures & Options, and Securities Lending and Borrowing (SLB) in the same time slot.
Narayan Gangadhar, CEO, Angel One Limited said, “India is a land of unique traditions. Even in the stock market, we have a tradition which is unique to us – Muhurta Trading.”
Kanika Aggarwal, Co-Founder, Upside AI, said that although 11 out of the last 15 Muhurta sessions have closed in the green, it could be a good day for traders. There is probably a case for “hope arbitrage” where you can go very early in the session and close out positions at the end of the trade.
Overall, Indian equities have outperformed global markets in Samvat 2078 and are expected to continue to outperform in Samvat 2079, driven by strong recovery in the Indian economy and domestic liquidity, increased FPI (Foreign Portfolio Investor) outflows. Bharpayee, Manish Jelloka, Co-Head Product and Solutions, Sanctuary Wealth, said.
However, investors need to keep in mind that the slowdown in the global economy due to tight liquidity conditions could lead to volatility seen in Samvat 2078.
Nilesh Shah, Group Chairman and Managing Director (MD) Kotak Mahindra Asset Management Company said.
Banks, capital goods, manufacturing are expected to outperform the market in Samvat 2079. Also, technology and pharma reforms will provide interesting opportunities on a bottom-up basis, he said.
The exchanges will remain closed on October 26 on the occasion of Diwali Balipratipada.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)