The common functioning of the inventory market will stay closed on Nov. 1 to mark the event of Diwali, one of many nation’s largest festivals. The buying and selling of equities, foreign money derivatives, fairness futures and choices, and securities lending and borrowing will happen solely throughout the one-hour particular time slot.
Carried out yearly on Diwali, the muhurat buying and selling normally witnesses excessive volatility. The buyers, largely within the retail section, are pushed by a customary apply relatively than profitability, market analysts stated.
“Since Muhurat buying and selling occurs in a really quick span, it witnesses volatility. A number of buyers have a tendency to purchase on that day as a customary apply. Nevertheless, institutional participation can be very restricted to negligible. There can be no participation from international portfolio buyers,” stated Kranthi Bathini, Fairness Strategist at WealthMills Securities Pvt.