Muhurta Trading 2022: The Muhurta trade began on a high note with Lakshmi Puja to mark the beginning of the Hindu Samvat year 2079 on Diwali. The NSE Sensex jumped 647 points to open above 59,950, while the BSE Nifty also gained 192.15 points to reach 17,768.45. All BSE sectoral indices were in the green led by Telecom, Financial Services, Bankex, Industries and Power.
Brokers said buying activity picked up pace in the first session of Samvat 2079 as investors opened their books. Barring Hindustan Unilever, all Sensex stocks were trading in positive territory.
L&T gained 2.10 per cent, followed by ICICI Bank, Nestle India, HDFC, HDFC Bank, NTPC and PowerGrid. Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 438.89 crore on Friday, while domestic institutional investors sold Rs 119.08 crore, according to exchange data.
What is Muhurta Trading?
Muhurta trading is an auspicious session to mark the beginning of a new Samvat 2079 – the Hindu calendar year that begins with Diwali. Every year on the evening of Diwali, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) conduct special one-hour trading sessions.
It is believed that doing business during ‘Muhurta’ or auspicious time brings prosperity and financial growth to the stakeholders.
What is Muhurta Trading?
Muhurta trading is an auspicious session held to mark the beginning of a new Samvat 2079 – the Hindu calendar year that begins with Diwali. Every year on the evening of Diwali, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) conduct special one-hour trading sessions. It is believed that doing business during ‘Muhurta’ or auspicious time brings prosperity and financial growth to the stakeholders.
Importance of Muhurta Trading
Investors and brokers buy value-based stocks during the Muhurta trading session, which are good for the long term. It is believed that during the special Muhurta, the planets align in such a way that brings good luck to the investors throughout the Samvat. The shares purchased on this occasion are also held as lucky charms by many investors.
Since Diwali is considered an auspicious day to start anything new, investors also believe that it is auspicious to buy shares and pass on to the next generation.
Due to these developments, it is observed that the markets generally move upwards during the Muhurta trading session. Investor sentiment is positive with buy orders across most segments.
Stock prices remain stable on this day as most of the investors prefer to buy rather than sell. Investors usually engage in value investing during Muhurta trading.
The exchanges will remain closed on October 26 on the occasion of Diwali Balipratipada.
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