Muhurat trading during Diwali holds a special place in the hearts of investors as stocks purchased on this auspicious day are believed to bring prosperity. Gold and silver investments also take center stage in this unique trading session. Let’s explore the insights provided by market experts to determine whether gold or silver is the preferred investment choice this year.
Muhurat Trading
Despite the Diwali holiday, the domestic stock market will witness a one-hour trading session called Muhurat Trading. This year’s Muhurat Trading is expected to be especially important,as investors expect favorable returns from investments made during this auspicious period. The Mumbai Stock Exchange BSE has already announced the details of Muhurat trading for the year 2023, and market experts share their perspectives on the potential benefits of investing in gold and silver during this time.
Investment Strategies
Initiating new investments during Diwali is considered a propitious endeavor, with many Indian investors opting for mutual funds and bonds on this auspicious day. Gold and silver investments, however, often steal the spotlight. The decision between gold and silver investments can be challenging for some. According to commodity market experts, both gold and silver present an opportunity to combat inflation, given their recent upward price trends. Despite global uncertainties such as the COVID-19 pandemic and geopolitical tensions, gold and silver have proven to be reliable safe havens for investors. Silver, with its industrial applications, is particularly attracting the attention of market experts, who suggest considering it instead of gold for investments this Diwali.
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Market performance
Looking at the performance of gold and silver over the past year provides valuable insight. Gold, priced at Rs 50,580 during Diwali 2022 in the multi-commodity forex market, witnessed significant growth, reaching Rs 59,650 during this Diwali. This means an impressive ROI of 18% since last year. Similarly, silver, which was priced at Rs 57,748 during last Diwali, is currently trading above Rs 70,000 per kg on MCX, giving a return of 21.25% in one year. Muhurat Time 2023: As per NSE and BSE circular, Muhurat Trading 2023 is scheduled for Sunday, November 12, 2023, from 6 pm to 7.15pm. This session includes a 15-minute pre-market opening session from 6:00p.m. to 6:15 p.m. Trading activity includes equities, commodity derivatives, currency derivatives, equity futures futures, options, loans, securities borrowing, etc.
As investors prepare for the auspicious Muhurat Trading during Diwali, choosing between investing in gold and silver becomes an important decision. Opinions from market experts suggest that while both metals have potential, silver, with its industrial utility, may be a prudent choice in the current economic climate. As the Muhurat session approaches, investors are gearing up to make wise decisions in line with their financial goals, taking advantage of the auspicious Diwali to chart a path to prosperity.