NEW DELHI: Muhurat trading on Diwali is a tradition Indian stock exchanges have been observing for years now. Might sound out of place in times of algorithmic trading, but with the broking community, it’s an age-old tradition which they have retained.In Hindu lexicon, muhurat means an auspicious time decided by planetary movements. Trading activity in this hour is considered auspicious.Offices of brokerages and stock exchanges are done up in distinctly ethnic look with rangoli patterns and diyas to welcome Goddess Lakshmi.On Thursday, muhurat trading will be conducted on both the stock exchanges for an hour between 6.30 and 7.30 pm. Last year, it was conducted between 6 pm to 7 pm.Thursday marks the beginning of a new Hindu accounting year, Samvat 2074. The day holds significance, as it is seen as an auspicious occasion for starting new business activity.While there is much hype and buzz around muhurat trading, the BSE Sensex has generally remained flat with a positive bias in muhurat trading every year.The biggest exception to this was October 28, 2008, when the index surprised many by soaring 5.86 per cent to settle at 9,008.

Source: Economic Times October 19, 2017 07:18 UTC