Indian stock exchanges BSE and NSE will conduct a one-hour
special Diwali ‘muhurat trading’ session on Monday, marking the beginning of
the new Samvat 2079, the Hindu Calendar year that starts on Diwali.

The symbolic trading session in the equity and equity
derivative segment will be held between 6:15 pm and 7:15 pm, the BSE and NSE
said in separate notices. The block deal session will start from 5.45 pm to
6:00 pm. The pre-open session will start at 6:00 pm and last till 6:08 pm, the
exchanges said.

Also Read | Prime Minister Narendra Modi celebrates Diwali with the troops: A retrospective

The Laxmi Pujan will be held at 3:30 pm at the BSE, followed
by an award distribution ceremony to top volume performers from 4:45 pm to 5:45

The markets will remain closed on October 24 for regular
trading on account of Diwali and Laxmi Pujan. Muhurat trading is a symbolic and
old ritual that has been retained and observed for ages by the trading
community. The practice was started in 1957 on the BSE and in 1992 on the NSE.

Also Read | Over 15 lakh diyas lit at Ayodhya Deepotsav to set Guinness world record. See pics

It is believed that trading during the ‘muhurat’ or the
auspicious hour, brings prosperity and financial growth for the stakeholders.
The muhurat trading is practiced to mark the start of the new Samvat. That is
when the traditional business community opens their books for accounts.

Also Read | Dhanteras 2022: 5 auspicious things to buy

“Diwali is considered to be the ideal time to start
anything new. The market sentiment is quite positive, with a majority of buying
orders across segments. Investors are said to benefit from trading during this
session all through the year,” Puneet Maheshwari, Director at Upstox,

Also Read | Diwali food hacks: 9 tips for a healthy festive season

Overall, key benchmark indices are marginally changed from
the levels observed during last Diwali, the market has seen a lot of
volatility. Since last Diwali, Indian stocks have been volatile, following
global peers amid expectations of rate hikes by central banks across the world
to control higher inflation. Geopolitical tensions and the persistent energy
crisis have also dampened investor sentiment.

Also Read | Dhanteras 2022: Things to avoid buying this year

The benchmark indices have historically performed quite well
on these special trading sessions. Since 2012, the Sensex has settled with
gains in 7 out of 10 times. On November 4, 2021, the 30-share index had surged
295.7 points or 0.49%.

The bourses will remain closed on October 26, on the
occasion of Diwali Balipratipada.