India’s stock markets will hold a special Muhurat trading session on Sunday, Nov. 8, for Diwali, marking the start of the Hindu calendar year, Samvat 2083. The ceremonial session, running from 2:20 p.m. to 3:30 p.m., is intended to bring prosperity but comes amid a challenging market backdrop. Equity benchmarks are down over 3% for the year, their worst performance in more than a decade.
The tradition, observed by NSE and BSE since 1957, involves token trades to usher in the new commercial year. Rooted in Gujarati and Marwari business customs, the ritual includes Lakshmi Puja and the symbolic opening of account books. Though trading has moved from open floors to screens and smartphones, the practice persists as a cultural and commercial milestone.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing