Sensex opens 271 points higher in Diwali Muhurat trading on a Sunday

Muhurat trading began on the stock market today on the occasion of Diwali, even though it is a Sunday. The special session opened on a strong note, with the market appearing to enjoy Goddess Lakshmi's blessings.

The Sensex opened 271.32 points higher at 81,299.34. The Nifty 50 also opened about 40 points up at 25,070.45. Shortly afterwards, the Sensex gained more than 400 points. Several stocks rose sharply during this period, including Tata Steel, Sun Pharma, Adani Ports and HDFC Bank.

On Friday, the Sensex had closed 1,731 points higher. The Nifty 50 also posted a big gain that day, closing 493.75 points up at 25,030.35. In Sunday's trading on the Diwali muhurat, Goddess Lakshmi appeared to be pleased.

Indian markets recorded a record rally just ahead of Diwali. Both the Sensex and the Nifty closed higher for seven straight trading days. In this period the Sensex made a spectacular jump of 10.6 per cent, or 7,782 points. It is considered the biggest pre-Diwali rally in the past 35 years. The Nifty also rose 10.27 per cent. The rally has added an estimated Rs 29.57 lakh crore to investors' wealth.

Many people ask what Muhurat trading is. It is a special trading session held on the stock market on Diwali day. The session is held every year on the occasion of Lakshmi Puja. The day also marks the start of the new Samvat year in the Hindu calendar. Indian investors consider Muhurat trading auspicious. By tradition, many people begin new investments and buy shares on this day. However, the session is no different from a regular trading session, and investments made in it remain subject to market risk.

It has also been clarified when payments will be settled. Trades made during Muhurat trading will be settled as per exchange rules. According to an NSE Clearing circular of October 21, trades made on the stock market on November 8 will be settled on Monday, November 9. The pay-in time has been fixed at 4:30 pm and the pay-out time at 9 pm. This means the money and shares related to investors' trades will be settled under the T+1 settlement rule.