Athira Sethu
Kochi, 1 Nov 2024
Muhurat Trading is a special trading session conducted on NSE and BSE during Diwali at the Lakshmi Puja hour. The event combines the financial culture with spirituality and celebrates the start of the Hindu fiscal year, which is called Samvat.
Cultural Significance
On the day of Goddess Lakshmi, goddess of wealth, and Lord Ganesha, the remover of obstacles, this trading of Lakshmi Puja Muhurat is considered an auspicious day when traders begin their new trades as it will bring all the blessings to succeed financially. It symbolizes the beginning of the new season, and therefore, represents a good atmosphere for the upcoming year.
Traditions and Customs
Muhurat Trading session converts the brokerage offices into an atmosphere of vibrancy and festivity. Desks are decorated with rangoli in vibrant colors, diyas, and marigold garlands. The pictures of Lakshmi and Ganesha are given importance and surrounded by incense and flowers. Most brokers share sweets and wear traditional attire to give a feeling of celebration.
Special pujas take place, and the desk becomes an altar to the goddess of wealth. Pujas or prayers are held with offerings made; often new account books are blessed at the beginning of a new inning. Even in this scenario of the modern electronic day, many companies carry forward this tradition, sprinkling turmeric and rice over their trading terminals to ward off bad luck.
Traders often exchange tokens at this point. Those who do not trade are often expected to purchase at least one small amount as a token to lure good fortune into the approaching year.
Market Atmosphere
While Muhurat Trading is usually characterized by low traded volumes, the sentiment is overtly bullish. The transactions are primarily small, as a means of participating in the celebrations. However, the session usually ends in the green, reflective of the buoyancy of the festival.
The Muhurat Trading is viewed as an inspiration by many while also seen as a tradition in financial circles. This tradition represents hope and a better future while lighting diyas and praying.
