Significance of Diwali Muhurat Trading 2023
Introduction
Each Diwali, the Indian market hosts a unique trading session known as 'Muhurat trading.' This article explores the importance of this event, its history, and what investors can anticipate in the upcoming Diwali Muhurat trading session in 2023. Diwali, the festival of lights, is not just a time for joy but also considered opportune for new beginnings. Muhurat trading, held during this auspicious hour, is believed to set a prosperous tone for the financial year. Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) open for this special session, emphasizing the belief that trading during this time brings financial growth.
Diwali Muhurat Trading 2023
The upcoming Muhurat trading session in 2023 is scheduled for Sunday, November 12, from 6:00 pm to 7:15 pm. As per the BSE and NSE notices, this symbolic session includes a 15-minute pre-market session.
A Glimpse into the History of Muhurat Trading
Muhurat trading is a tradition with a history spanning over half a century. The BSE initiated this practice in 1957, predating the era of online trading. The NSE followed suit in 1992. Traders, in the pre-online trading era, gathered at the BSE floor dressed in festive wear, placing orders for stocks they intended to hold for at least a year.
Traditions within the Broking Community
On Diwali, the broking community completes 'Chopda Pujan,' worshiping their books of accounts. Gujarati traders are known for buying shares during Muhurat trading. Traditionally, this ritual involved placing orders for long-term investments.
Beliefs of Investors
Investors hold strong beliefs in the prosperity Muhurat trading brings. Many buy stocks symbolically, holding them for the long term. While serious financial decisions are discouraged on this day, it's a time for investors to review portfolios and make symbolic purchases for a better future.
Evolution of Muhurat Trading Rituals
In the past, traders would gather at the BSE floor, dressed in festive attire. Today, with the advent of online trading, the rituals have evolved, but the essence of symbolic purchases and reverence for the Goddess of Wealth, Lakshmi, remains. Diwali Muhurat trading is not just a financial event but a cultural and traditional ritual observed by the investor community. It reflects the reverence for new beginnings and the belief that auspicious trading on Diwali brings prosperity and success throughout the year.
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FAQs related to Diwali Muhurat Trading 2023 Q: What is the significance of Muhurat trading on Diwali?
A: Muhurat trading on Diwali is considered auspicious, bringing prosperity and setting the tone for financial growth in the upcoming year.
Q: When did the Muhurat trading tradition start?
A: The tradition began in 1957 by the BSE and later in 1992 by the NSE.
Q: What rituals are associated with Muhurat trading?
A: Traditionally, traders complete 'Chopda Pujan' and worship their books of accounts on Diwali.
Q: Why do investors place token orders during Muhurat trading?
A: Investors believe it symbolizes prosperity and success, holding stocks for the long term.
Q: Can serious financial decisions be made during Muhurat trading?
A: It is advised against making significant financial decisions on this day; instead, it's a time for symbolic purchases and portfolio reviews.
Q: What is the time for Muhurat trading in 2023?
A: The session is scheduled for 6:00 pm to 7:15 pm on 12th November 2023. DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor before making any actual investment decisions, based on the information published here. Any reader taking decisions based on any information published here does so entirely at their own risk. Investors should bear in mind that any investment in the stock market is subject to unpredictable market-related risks. The author has no plans to invest in this offer and also the author does not recommend investing in any offer published on this website.