Diwali Muhurat Trading 2023 India's Auspicious Stock Market Tradition
Diwali, also known as Deepavali, is a widely celebrated festival in India that holds immense significance, not only for its cultural and spiritual aspects but also in the world of finance. One of the key financial traditions associated with Diwali is the practice of Muhurat Trading, a unique and auspicious event in the stock market. This article explores the reasons behind the widespread desire to purchase shares during Muhurat Trading, a tradition with a rich history spanning several decades.
The Significance of Diwali and Mother Lakshmi
Diwali is a festival celebrated with great fervor in India, signifying the victory of light over darkness and the triumph of good over evil. It is a time of family gatherings, feasts, and the exchange of gifts. However, it is not just a religious festival; it also has significant implications in the world of finance. On Diwali, people worship the Goddess of wealth, Mother Lakshmi, seeking her blessings for prosperity and abundance in the coming year. This focus on wealth and fortune extends to the stock market as well.
Muhurat Trading: A Time of Auspiciousness
Muhurat Trading, as the name suggests, signifies a specific and auspicious moment. On Diwali, the act of buying is considered highly propitious, and this belief carries over to the stock market. Despite the stock market being closed on Diwali day, a unique trading session, known as "Diwali Muhurat Trading," is conducted. During this session, a 15-minute pre-opening session begins at 6:00 PM, followed by regular trading from 6:15 PM to 7:15 PM, concluding with market settlement at 7:25 PM.
The emphasis during Muhurat Trading is on acquiring shares, not selling them. Investors and traders participate with the sole intent of invoking good fortune. Even those who do not plan to accumulate a significant number of shares often purchase one or two as a symbolic gesture of good luck, intending to hold them within their investment portfolios. There is a belief within the trading community that those who buy shares on this day are destined for financial prosperity in the coming year.
A Time-Honored Tradition
Diwali Muhurat Trading has a tradition that spans nearly five decades. It was initiated in 1957 on the Bombay Stock Exchange (BSE) and later introduced on the National Stock Exchange (NSE) in 1992. Over the years, it has become deeply ingrained as a revered tradition, and every investor or trader aspires to secure their preferred shares on this cherished day.
The Legacy Extending Across Generations
Shares acquired during Muhurat Trading are considered symbols of auspiciousness. Many investors choose to transfer these cherished holdings to the next generation, believing that they bring good fortune. These assets are maintained within family portfolios, ensuring the continued growth of wealth. It is not uncommon for investors to pass down these propitious shares to their children and generations to come, reinforcing the belief in the enduring power of Diwali Muhurat Trading.
- PTC PUNJABI