Muhurat trading: Sensex zooms over 350 points in opening session; Nifty above 12,800 – Times of India

NEW DELHI: Markets conducted a special one-hour Muhurat trading session on Diwali (Saturday) to mark the beginning of Samvat 2077. The Hindu calendar year that starts on Diwali – and it is believed that Muhurat trading brings prosperity and wealth throughout the year.
The benchmark BSE sensex 370 points or 0.85 per cent to 43,814; while the broader NSE Nifty surged 102 points or 0.80 per cent to 12,822.
Both the indices closed Hindu calendar year Samvat 2076 with smart gains. The Sensex rallied 4,384.94 points or 11.22 per cent, while the Nifty soared 1,136.05 points or 9.80 per cent.
Investors and traders perform rituals to honour account books and cash chests. Before the trading session, investors and stockbrokers perform ‘Chopda Poojan’ to seek blessings from Laxmi and Ganesh.
The timing of trading changes every year, depending on the auspicious hour of the day. The trading community has been following this tradition for over half a century now. Since 1957, BSE has been holding this special trading session and NSE followed along since 1992.
“Muhurat trading is the auspicious stock market trading for an hour on Diwali (Deepawali) … As Diwali also marks the beginning of the New Year, it is believed that Muhurat trading on this day brings and wealth and prosperity throughout the year,” according to the NSE.
Both stock exchanges will remain closed on November 16 for Diwali Balipratipada.