Suryaa Business Desk: Indian stock markets are stepping into the new Hindu year Samvat 2083 on the occasion of Diwali. To mark the auspicious occasion, the country's major stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), are conducting a traditional one-hour special Muhurat Trading session this evening. For decades, investors, traders, and brokerage firms have maintained the tradition of performing Lakshmi Puja and making token purchases to wish for financial prosperity and profits in the new year.
According to the schedule of the exchanges, this special one-hour session is typically held in the evening. Transactions are conducted across equities, equity derivatives, commodity derivatives, and currency markets during this specified timeframe. Historical records show that more than 70 to 80 percent of previous Muhurat trading sessions have closed in the green with gains.
At the beginning of Samvat 2083, market analysts hold a positive outlook primarily on sectors linked to domestic economic growth. Banking and financial services shares look attractive owing to stable credit growth and robust asset quality. Auto and consumer durables are strengthened by festive season demand and recovery in rural market purchases. Infrastructure and manufacturing, including capital goods, are set to receive crucial support from government budget allocations and domestic manufacturing incentives. Additionally, investors view pharma and healthcare as defensive sectors capable of enduring global market uncertainties.
Market experts advise that Muhurat Trading is considered an auspicious start for wealth creation and should not be treated as speculation or intraday gambling. Given that the session lasts for only one hour, market volatility may be high. Therefore, experts suggest that investors make token investments with a long-term perspective in quality blue-chip company shares, Gold ETFs, or index funds.