Markets to open for 'Muhurat' trading Tuesday
India's leading bourses, the Bombay Stock Exchange and the National Stock Exchange, will conduct 75 minutes of special trading, called "Muhurat", Tuesday on the occasion of the Hindu festival of Deepawali.
The Muhurat trading will be conducted from 3.45 p.m. to 5 p.m. The pre-open order entry will start at 3.30 p.m.
The short duration trading is conducted to pay obeisance to Lakshmi, the goddess of wealth and prosperity.
It also marks the beginning of new year, Samvat 2069, for traders based on the lunar calendar as per ancient Hindu tradition.
The special Muhurat trading is conducted every year on Diwali day, a tradition that dates back over a century.
The timing of trading varies from year to year. Last year the special trading was conducted from 4.45 p.m. to 6 p.m.
The market is likely to remain range-bound during the special session, after witnessing lacklustre trading Monday.
The benchmark Sensex of the Bombay Stock Exchange (BSE) closed 0.07 percent down at 18,670.34 points, while the wider 50-scrip S and P CNX Nifty of the National Stock Exchange fell 0.04 percent at 5,683.70 points.