Nothing says India like Diwali does: a nationwide celebration that is good for families, and is good for the economy! Diwali is when companies declare bonuses, gold prices rise in anticipation of Dhanteras, consumer durables go out of stock, and just about every retailer (whether online or offline) is running deep discounts. Of course, the same can be said of the Christmas season, but there is a crucial cultural difference here: Diwali isn't about gifts alone, but instead, about courting and engaging with our wealth.
Diwali is when we pay obeisance to the goddess of wealth and abundance. We court her by cleaning our homes, lighting diyas, dressing up, and offering her our prayers. We also find fun ways to engage with our wealth - we spend it on gifts, on self care, on beautifying our homes and businesses. We also bring home something new on Dhanteras, a day that demands it. We get playful with it, when we allow ourselves that one night when we play cards with 'real money', and of course, we invest because it is the most auspicious time of the year.
In fact, we even have a name, and a special time for it: Muhurat Trading! On Diwali, during the most auspicious time of the evening, the Indian stock market opens for an hour, to give each of us an opportunity to create wealth, trade and start the new year, the Samvat, on the right note. It is believed that doing so brings us greater prosperity all year long.
So strong is our belief, that investors have had positive experiences, with the BSE Sensex closing higher in seven out of the last ten such special sessions. During the last two Muhurat Trading sessions, the stock markets have closed in the green on the Muhurat trading day. Both the Sensex and the Nifty gained 0.88 percent each on Muhurat trading in 2022, while in 2021, the two benchmarks moved up by 0.49 percent each. However, customers should also undertake enough due diligence to ensure informed
decisions are made.
What do people do during Muhurat Trading? They buy stocks! And not just any stocks, but ones they believe in. In companies that have earned their trust, and in whose future they feel confident in. This year, Muhurat trading is set to happen between 6pm to 7.15 pm(which includes a 15-minute pre-market session) on November 12th, Sunday.
If you aren't sure which companies and stocks you want to buy, ICICIdirect has some great recommendations for you. These Muhurat Picks are research-recommended stocks, in addition to numerous basket orders created just for the Muhurat trading sessions. Of course, if you don't have liquidity to do so, ICICIdirect lets you buy assets using your existing shares as margin. You also have the option to systematically invest in your favourite stocks using SIPs during Muhurat Trading and otherwise.
Moreover, Muhurat trading isn't just about stocks! You can trade and invest in the asset class of your choice. If commodities are your jam, then so be it! Beat the gold rush by investing in Gold ETFs. Give yourself a stability boost with debt instruments and bonds, or strengthen your portfolio by investing in a variety of mutual funds. It's your wealth journey, and you get to choose!
The beauty of it lies in its simplicity - be it Muhurat Trading or managing your investments long term, the ICICIdirect app lets you do it all, from the comfort and convenience of your phone. ICICIdirect is trusted by over 9.5 million customers and manages over 6.5 lakh crore in client assets, which makes it the ideal partner for you on your investment journey. Over the years, ICICIdirect has built a strong reputation for itself by providing comprehensive services, fair and transparent fee structure, and strong security policies and fraud prevention practices.
Another factor that sets ICICIdirect apart is its unique research desk that offers various research based products designed to meet your needs across different time horizons.
Let this be the year that you start your wealth building journey in earnest, with ICICIdirect by your side, and in your pocket this festive season.
Disclaimer:
ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, CIN: L67120MH1995PLC086241 Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code: 07730), BSE Ltd (Member Code: 103) and Member of Multi Commodity Exchange of India Ltd.(Member Code: 56250) and having SEBI registration no. INZ000183631. I-Sec is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990. Name of the Compliance officer (Research Analyst): Mr. Atul Agarwal Contact number: 022-40701000 E-mail Address : complianceofficer@icicisecurities.com Name of the Compliance officer (broking): Ms. Mamta Shetty, Contact number: 022-40701022, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. ICICIdirect Mobile App is offered by ICICI Securities. Baskets are not Exchange approved products and any disputes related to the same will not be dealt on the Exchange platform. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. None of the research recommendations promise or guarantee any assured, minimum or risk free return to the investors. For any queries or grievances: Mr. Prabodh Avadhoot Email address: headservicequality@icicidirect.com Contact Number: 18601231122.
Moneycontrol Journalists were not involved in the creation of the article.
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