Edelweiss Mutual Funds MD and CEO Radhika Gupta on Thursday shared that she does not engage in Muhurat trading and does not attend events during Diwali because she strictly believes it's a time meant to be spent with family.
"Since I have returned to India in 2009, I have spent every Diwali at my parents' home in Delhi. It is an unspoken rule," Gupta wrote on X. 'I take time off from work, don't do Mahurat trading shows, and don't attend fancy Diwali dos. Because Diwali is a simple family affair and it feels good that way."
Celebrated annually on Diwali, Muhurat trading is an hour-long session that marks the auspicious beginning of the Hindu financial year, or Samvat. Celebrated on the day of Lakshmi Puja, it is believed to bestow wealth and prosperity.
Gupta also shared Diwali wishes on behalf of her and Edelweiss Mutual Funds.
"Wishing you a Diwali full of love, joy, and gratitude. Of new dreams and opportunities, but also old traditions and memories. And from all of us at Edelweiss MF, a few lines to wish you a Happy Bachchpan wali Diwali," she wrote.
Since I have returned to India in 2009, I have spent every Diwali at my parents home in Delhi. It is an unspoken rule.I take time off from work, don't do Mahurat trading shows and don't attend fancy Diwali dos. Because Diwali is a simple family affair and it feels good that pic.twitter.com/w9lvwtzWDy
Radhika Gupta (@iRadhikaGupta) October 31, 2024
Significance of Muhurat trading
Celebrated on the day of Lakshmi Puja, this session is a tribute to Goddess Lakshmi. It is also the start of a new Samvat -- the Hindu calendar year established by King Vikramaditya in 57 BCE. For traders, it’s a fresh beginning on the auspicious night of Diwali, intended to set a positive tone for the coming year. Market participants, from retail investors to seasoned institutions, believe that trades made during Muhurat bring blessings of financial success.
Market sentiment
Muhurat trading is marked by low volumes but strong positive sentiment. Many traders and institutions place small, symbolic trades rather than substantial investments, contributing to the festive atmosphere. Despite the modest trading volumes, the session usually sees gains, as optimism runs high during the Diwali celebrations.
Symbolic as it may be, Muhurat trading has seen actual trends develop over the years, with stocks often closing on a positive note. It’s a ritualistic beginning that sets a hopeful tone for the coming year, encouraging traders to approach the future with optimism
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