'I Don't Do Muhurat Trading': Edelweiss Mutual Funds' Radhika Gupta On Her Diwali Plans

Radhika Gupta, MD and CEO of Edelweiss Mutual Funds said on Thursday that she abstains from participating in Muhurat trading and avoids attending events during Diwali. She firmly believes that this festive time should be dedicated to spending quality moments 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. 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,” Gupta wrote in a post on X (formerly Twitter).

Muhurat Trading is an annual event held on Diwali. It features a one-hour trading session that signifies the auspicious start of the Hindu financial year, known as Samvat. Coinciding with Lakshmi Puja, this trading session is believed to invite wealth and prosperity.

Gupta also extended Diwali greetings on behalf of herself 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 added.

Muhurat trading, celebrated on the day of Lakshmi Puja, serves as a tribute to Goddess Lakshmi and marks the beginning of a new Samvat, the Hindu calendar year established by King Vikramaditya in 57 BCE. For traders, this auspicious night of Diwali represents a fresh start, aiming to create a positive outlook for the year ahead. Market participants, ranging from retail investors to seasoned institutions, believe that trades conducted during Muhurat bring the blessings of financial success.

Market Sentiment For Muhurat Trading

Muhurat trading is characterised by low trading volumes yet a strong sense of optimism. Many traders and institutions engage in small, symbolic trades instead of significant investments, enhancing the festive atmosphere. Despite the modest volume, the session typically witnesses gains fueled by the high spirits of the Diwali celebrations.

While largely ritualistic, Muhurat trading has historically led to tangible trends, with stocks often closing positively. This tradition sets a hopeful tone for the upcoming year, encouraging traders to face the future with optimism and confidence.