Muhurat trading, the symbolic trading on the auspicious day of Diwali has ended with a positive note with both the indices in green. While the BSE Sensex closed after climbing 192.14 points to 39,250, NSE Nifty also surged by 43 points at 11,627. Among the biggest gainers are, Spicejet, Tata motors,Pfizer,Yes Bank and Infosys, while the biggest losers are Bharti Airtel, DHFL.
‘Muhurat (Auspicious) Trading’ marks the beginning of the new trading year for the Gujarati community, who form the bulk of share brokers in India. For the trading communities, the new financial year begins with the next day after Diwali. That is the reason pooja is performed for account books, safes and tijoris on Dhanteras as well as on Diwali day. A coin is placed on the account books before the pooja which is supposed to signify wealth, and the coin is preserved and again used in the pooja in the next Diwali. The stock brokers perform “Chopra Pooja (Worshipping of Account Books)” at the exchange and a customary ‘Muhurat Trading’ trading takes place at the stock exchange. The story goes that on the night of Lakshmi Pooja, the Goddess comes to reside at the place of the Pooja that is the reason the traders and shopkeepers keep awake with lights burning all night to welcome Lakshmi any time she chooses to come. Mahurat trading has been organised by BSE since 1957 while NSE started it from the year 1992.