Markets to hold special Diwali trading session Wednesday

October 25th, 2011 - 5:05 pm ICT by IANS  

Mumbai, Oct 25 (IANS) Indian equities markets will hold a special ‘muhurat’ trading on Diwali evening Wednesday to pay obeisance to Lakshmi, the Hindu goddess of wealth and prosperity.

The trading will begin at 4.45 p.m. and last till 6 p.m.

The other major bourse, the National Stock Exchange, will hold a similar session during the same time to also mark the New Year for traders as per the Hindu lunar calendar, or Samwat 2068.

Traders make token purchases on this day. In stock markets, where the tradition of muhurat trading dates back over a century, key indices have often ended with gains as most people believe in buying than selling on that day.

Derivatives and Futures trading will similarly be conducted at all the three major commodity exchanges in India - the Multi-Commodity Exchange, National Multi-Commodity Exchange and National Commodity and Derivatives Exchange.

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