Multi Commodity Exchange of India Limited (MCX) has said that it will hold a Muhurat Trading session on November 14 on the occasion of Diwali. The exchange added that contracts of all commodities will be available for trading on this day. "On the occasion of Diwali (Laxmi Poojan Day), contracts of all commodities will be available for Muhurat Trading on Saturday, November 14, 2020," MCX said in a circular on Monday.
The special session will continue from 6 pm to 6:14 pm, while the trading will take place from 6:15 pm to 7:15 pm. The market timings for MCX Muhurat Trading session will be as follows:
Special Session: 6:00 pm to 6:14 pm
Trading Session: 6:15 pm to 7:15 pm
Client Code Modification Session: 7:15 pm to 7:30 pm
The special trading session marks the beginning of a new Samvat - the Hindu calendar year that starts on Diwali - and it is believed that Muhurat Trading brings prosperity and wealth throughout the year.
MCX is a commodity derivatives exchange that facilitates online trading of commodity derivatives transactions. The exchange started operations in November 2003 and operates under the regulatory framework of Securities and Exchange Board of India (SEBI).
This special symbolic trading session is also held by stock exchanges on the occasion of Diwali. The account books and cash chests are worshipped on this day before the customary Muhurat Trading. Bombay Stock Exchange (BSE) has been holding Muhurat Trading since 1957 and National Stock Exchange of India or NSE since 1992.
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