Business · Markets · 8 hrs ago

India’s stock exchanges will hold a shortened Diwali trading session

India’s stock exchanges will hold a shortened Diwali trading session

India’s NSE and BSE will open for a special Diwali session on Sunday, Nov.

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Known as Muhurat trading, it marks the start of a new Hindu calendar year, called Samvat.

The tradition reflects merchant families’ custom of starting the year with an auspicious transaction.

It also grew from Diwali practices of closing accounts and opening new business ledgers.

BSE has observed the tradition since 1957, and it continues even though trading has moved from exchange floors to phones and computers.

The session is shortened, but trades must still be settled normally.

This year it comes as Indian equity benchmarks are ending Samvat 2082 down more than 3%, their worst annual performance in over a decade.

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