18 Oct 2017, 15:14 — 2 min read
In a tradition unique to India, markets open for a short time on Diwali in tribute to Goddess Lakshmi. Goddess Lakshmi is the deity for wealth and prosperity. Lakshmi Puja is another name for Diwali.
Mahurat trading is a centuries old tradition that marks the beginning of the new year in the Hindu calendar or Samvat 2074. Mahurat means auspicious time. Traders and businesses used to conclude the financial year at this time and take stock of their enterprises and invest in this time window.
This year, Mahurat Trading will be conducted on Diwali day on October 19th, 2017 between 6:30 and 7:30 PM for stock exchanges. The pre-opening session will start at 6:15 PM. New traders often pick this day to start their foray into the world of trading. Seasoned traders also make at least a token investment.
This circular outlines the timelines around this event. Though this particular circular is for the equity markets, the same timings will hold for commodities as well and other segments. All MIS, BO, CO positions will be squared off 15 minutes before the closing of the market.
The indices generally stay positive on this day.
Good luck investing.
Posted byGlobalLinker Staff
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