Muhurat trading
Muhurat trading is a special trading session that the National Stock Exchange (NSE) and BSE hold on Diwali Laxmi Pujan, a market holiday, to mark the start of the new Vikram Samvat year. The 2026 session falls on Sunday, 8 November 2026, with the equity normal market from 14:20 to 15:30 IST under NSE circular NSE/CMTR/76941 of 19 October 2026.
The session is a full trading session in a short window. Every trade in it is settled: NSE’s circular states that “All trades executed in this Diwali Muhurat trading session shall result in settlement obligations”, and NSE Clearing settles the 8 November 2026 equity trades on Monday, 9 November 2026 under the T+1 settlement cycle. Cash equity, futures and options , currency, commodity, interest rate derivatives, securities lending and corporate bond RFQ all run, each under its own circular.
It is the only trading session on the Laxmi Pujan holiday. Its timing changes from year to year, and moved from the evening to the afternoon in 2025. The following Diwali Balipratipada is a separate holiday, which in 2026 falls on Tuesday, 10 November, so the market trades on Sunday and Monday and closes on Tuesday.
Below: the live countdown, the 2026 timings for every segment, the settlement and holiday calendar around the session, the rules that apply, the record of every session since 2012 with the Nifty 50 and Sensex moves, and the origins of the custom.
Muhurat trading 2026 · Samvat 2083
Normal market: 14:20 to 15:30 IST
Scheduled by NSE circular NSE/CMTR/76941 and BSE notice 20261019-9, both dated 19 October 2026.
Muhurat trading 2026 date and time
The 2026 Muhurat trading session is on Sunday, 8 November 2026, and the equity normal market runs from 14:20 to 15:30 IST on NSE and BSE. NSE fixed the date in its trading holidays circular NSE/CMTR/71775 of 12 December 2025, which footnotes Diwali Laxmi Pujan with “Muhurat Trading will be conducted on Sunday, November 08, 2026”, and fixed the timings in NSE/CMTR/76941 of 19 October 2026. BSE fixed its matching schedule in notice 20261019-9 of the same date.
The session is not one block of time. It opens with a block deal window, runs a pre-open call auction, then continuous trading, and ends with the closing auction session (CAS) for eligible stocks. The NSE capital market schedule, as published in NSE/CMTR/76941:
| Session, NSE equity cash, 8 November 2026 | Start (IST) | End (IST) |
|---|---|---|
| Block deal session | 13:50 | 14:05 |
| Pre-open order entry, limit and market orders | 14:05 | 14:10 |
| Pre-open order entry, limit orders only, random closure in the last 2 minutes | 14:10 | 14:15 |
| Pre-open order matching and trade confirmation | 14:15 | 14:17 |
| Pre-open buffer | 14:17 | 14:20 |
| Normal market (continuous trading) opens | 14:20 | |
| Call auction illiquid session | 14:25 | 15:10 |
| Normal market close, CAS securities | 15:15 | |
| CAS reference price calculation | 15:15 | 15:20 |
| CAS order entry (limit orders only from 15:25, random closure) | 15:20 | 15:30 |
| Normal market close, non-CAS securities | 15:30 | |
| CAS order matching | 15:30 | 15:35 |
| CAS transition to post-close | 15:35 | 15:50 |
| Post-close session | 15:50 | 16:00 |
| Trade modification | 14:20 | 16:15 |
Two windows sit apart from the main market. Shares in a special pre-open, meaning an IPO or a relisted security, collect orders from 14:05 to 14:50 IST with random closure in the last 10 minutes, and trade normally from 15:05 to 15:30 IST. Illiquid stocks in the periodic call auction trade in auctions from 14:25 to 15:10 IST.
The 2026 session is the first Muhurat session to carry a closing auction, because SEBI’s closing auction session went live on 3 August 2026 under circular HO/47/11/11(3)2025-MRD-POD2/I/2765/2026 of 16 January 2026. The NSE Muhurat circulars for 2021 to 2025 carry a single “Closing Session” row instead. BSE notice 20261019-9 states that the CAS reference price on Muhurat day is the volume-weighted average price of trades between 15:00 and 15:15 IST.
A participant-side condition also applies. NSE circular NSE/ISC/77098 of 26 October 2026 allows trading only in unique client codes “identified as compliant by the Exchange by 22:00 hrs on Saturday, November 07, 2026”, so a unique client code that a broker has not brought into compliance by Saturday night cannot trade on Sunday.
Timings by segment and exchange, 2026
Every trading segment of NSE and BSE opens for continuous trading at 14:20 IST on 8 November 2026, except the corporate bond RFQ platform (14:05) and special pre-open stocks (15:05), and the closing time differs by segment. Equity derivatives run longest, to 15:40 IST. Each segment has its own circular, all dated 19 October 2026 unless stated otherwise.
| Segment | Exchange | Continuous trading (IST) | Trade modification ends | Document |
|---|---|---|---|---|
| Equity cash | NSE | 14:20 to 15:30 (15:15 for CAS stocks) | 16:15 | NSE/CMTR/76941 |
| Equity cash | BSE | 14:20 to 15:30 (15:15 for CAS stocks) | 16:15 | BSE notice 20261019-9 |
| Equity derivatives | NSE | 14:20 to 15:40 | 15:50 | NSE/FAOP/76940 |
| Equity derivatives | BSE | 14:20 to 15:40 | 16:15 | BSE notice 20261019-10 |
| Currency derivatives | NSE | 14:20 to 15:30 | 15:40 | NSE/CD/76972 |
| Currency, cross-currency and interest rate derivatives | BSE | 14:20 to 15:30 | 16:00 | BSE notice 20261019-11 |
| Commodity derivatives | NSE | 14:20 to 15:30 | 15:40 | NSE/COM/76978 |
| Commodity derivatives | BSE | 14:20 to 15:30 | 16:00 | BSE notice 20261019-12 |
| Electronic gold receipts | BSE | 14:20 to 15:30 | not stated | BSE notice 20261019-13 |
| Securities lending and borrowing | NSE Clearing | 14:20 to 15:30 | not applicable | NCL/CMPT/77030, 21 October 2026 |
| Corporate bond RFQ | NSE | 14:05 to 15:00, then confirmation only to 15:30 | 15:30 | NSE/DS/77072, 22 October 2026 |
The equity derivatives pre-open runs from 14:05 to 14:15 for order entry and from 14:15 to 14:17 for matching. NSE/FAOP/76940 also updates the price bands of stock and index futures at 15:15 IST, so that they line up with the closing auction in the cash market. Stocks in the F&O ban period are monitored on Muhurat day from a beginning-of-day contract delta file, NSE Clearing states in NCL/CMPT/77038.
BSE’s electronic gold receipts segment carries its own block deal window from 14:35 to 14:50 and a closing session from 15:30 to 15:50. The NSE debt RFQ platform is open only for corporate bonds, with T+1 settlement, and CBRICS is not available.
The Multi Commodity Exchange runs its own Muhurat session under its own circular. MCX’s 2026 timings could not be confirmed at an MCX source, so they are not stated here; NCDEX timings are not stated for the same reason.
Settlement of Muhurat trades and the Diwali holiday calendar
Muhurat trades settle on the next business day under T+1, like trades on any other day, and NSE Clearing combines that settlement with the one already due. For the 8 November 2026 session, NSE Clearing circular NCL/CMPT/77037 of 21 October 2026 sets settlement number 2026211, trade date 8 November 2026, for settlement on Monday, 9 November 2026, and schedules multiple settlements on that day: Friday, 6 November trades settle on 9 November as well.
The calendar around the 2026 session runs as follows:
| Date | Day | Status | Source |
|---|---|---|---|
| 6 November 2026 | Friday | Normal trading day | NSE/CMTR/71775 |
| 7 November 2026 | Saturday | Closed; UCC compliance cut-off 22:00 IST | NSE/ISC/77098 |
| 8 November 2026 | Sunday | Muhurat trading session only | NSE/CMTR/76941 |
| 9 November 2026 | Monday | Normal trading day; settlement of 6 and 8 November trades | NCL/CMPT/77037 |
| 10 November 2026 | Tuesday | Trading holiday, Diwali Balipratipada | NSE/CMTR/71775 |
| 11 November 2026 | Wednesday | Normal trading day | NSE/CMTR/71775 |
For equity derivatives, NSE Clearing circular NCL/CMPT/77038 of 21 October 2026 states that “Pay in/pay out transactions for trade date November 06, 2026, and November 08, 2026, shall be settled on November 09, 2026, 8:30 hrs.” In securities lending and borrowing, the L series settlements for 6 and 8 November both settle on 9 November, and the reverse leg R3 settles on 12 November 2026, under NCL/CMPT/77030. The client margin reporting cut-off for 8 November trades is 16 November 2026.
The 2025 session shows how the holiday changes the settlement date. Muhurat trading fell on Tuesday, 21 October 2025, and Balipratipada on Wednesday, 22 October 2025, was a holiday, so NSE Clearing circular NCL/CMPT/70409 of 25 September 2025 settled the 21 October trades on Thursday, 23 October 2025. A share bought in the 2025 Muhurat session reached the demat account two calendar days later, and in 2026 one calendar day later.
Rules that apply during the session
No SEBI circular deals with Muhurat trading on its own terms. Each session is a special session that the exchange notifies “in continuation” of its annual holiday circular, and the clearing corporations fix the settlement. Everything SEBI and the exchanges require on an ordinary day carries over: margins, price bands and circuit limits , the closing auction, surveillance and client-code checks. The 2026 circulars add only the session-specific items: the futures price-band update at 15:15, the beginning-of-day ban-period file, the Saturday UCC cut-off, two VaR margin files (previous close and end of day) and the margin-reporting schedule.
The rules a retail investor meets most often on Muhurat day are these:
- Order entry. Orders reach the exchange only from 14:05 IST, when pre-open order entry opens. A broker may accept an order earlier as an after-market order and send it at the open; whether it does is a broker decision, not an exchange rule.
- Intraday square-off. The circulars do not set an auto square-off time. Each broker sets its own, and on a 70-minute session with a 15:15 CAS cut-off it falls well before the usual weekday time. The intraday auto square-off rules of the broker apply.
- Charges and tax. A Muhurat trade is an ordinary transaction on a recognised stock exchange. Securities transaction tax under Chapter VII of the Finance (No. 2) Act 2004, stamp duty, exchange transaction charges, SEBI turnover fees and GST on brokerage apply as on any day, and none of the 2026 circulars creates an exemption. Gains are taxed under the normal capital gains or business income rules of the Income-tax Act 2025, in tax year 2026-27, for the trade date of 8 November 2026.
- Liquidity. A 70-minute session on a holiday can carry a thinner order book than a normal day, and a thin order book means wider spreads, which is a cost to anyone placing a market order.
The session is also a full trading day for the record. The NSE daily index close file for each Muhurat date carries a full open, high, low and close, and the Nifty 50 closing value for the session is the official close for that date.
Muhurat trading history, 2012 to 2026
The table below lists every Muhurat session from 2012 to 2026 with its date, Samvat year, the normal-market window where an NSE circular for that year has been read, and the closing moves of the Nifty 50 and the Sensex. It is a webnotes.in compilation from NSE circulars, the NSE daily index close files and a Business Standard Research table, and every column is sortable.
| Year | Date | Samvat | Normal market (IST) | Nifty 50 close | Nifty 50 change | Sensex change |
|---|---|---|---|---|---|---|
| 2026 | Sun 8 Nov 2026 | 2083 | 14:20 to 15:30 (15:15 for CAS stocks) | session pending | session pending | session pending |
| 2025 | Tue 21 Oct 2025 | 2082 | 13:45 to 14:45 | 25,868.60 | +25.45 (+0.10%) | +0.07% |
| 2024 | Fri 1 Nov 2024 | 2081 | 18:00 to 19:00 | 24,304.35 | +99.00 (+0.41%) | +0.42% |
| 2023 | Sun 12 Nov 2023 | 2080 | 18:15 to 19:15 | 19,525.55 | +100.20 (+0.52%) | +0.55% |
| 2022 | Mon 24 Oct 2022 | 2079 | 18:15 to 19:15 | 17,730.75 | +154.45 (+0.88%) | +0.88% |
| 2021 | Thu 4 Nov 2021 | 2078 | 18:15 to 19:15 | 17,916.80 | +87.60 (+0.49%) | +0.49% |
| 2020 | Sat 14 Nov 2020 | 2077 | not stated | 12,780.25 | +60.30 (+0.47%) | +0.45% |
| 2019 | Sun 27 Oct 2019 | 2076 | not stated | 11,627.15 | +43.25 (+0.37%) | +0.49% |
| 2018 | Wed 7 Nov 2018 | 2075 | not stated | 10,598.40 | +68.40 (+0.65%) | +0.70% |
| 2017 | Thu 19 Oct 2017 | 2074 | not stated | 10,146.55 | -64.30 (-0.63%) | -0.60% |
| 2016 | Sun 30 Oct 2016 | 2073 | not stated | 8,625.70 | -12.30 (-0.14%) | -0.04% |
| 2015 | Wed 11 Nov 2015 | 2072 | not stated | 7,825.00 | +41.65 (+0.54%) | not stated |
| 2014 | Thu 23 Oct 2014 | 2071 | not stated | 8,014.55 | +18.65 (+0.23%) | not stated |
| 2013 | Sun 3 Nov 2013 | 2070 | not stated | 6,317.35 | +10.15 (+0.16%) | not stated |
| 2012 | Tue 13 Nov 2012 | 2069 | not stated | 5,666.95 | -16.75 (-0.29%) | not stated |
The session timing changed three years running. It ran in the evening, 18:15 to 19:15, from 2021 to 2023; moved to 18:00 to 19:00 on 1 November 2024 (NSE/CMTR/64628 of 19 October 2024); moved to the afternoon, 13:45 to 14:45, on 21 October 2025 (NSE/CMTR/70319 of 22 September 2025); and in 2026 widened to 70 minutes, from 14:20 to 15:30, with the closing auction added. The 2025 shift caught out early reporting: Business Today gave the slot as 18:15 to 19:15 on 19 September 2025, three days before NSE’s circular set 13:45.
Of the 15 sessions from 2012 to 2026, five fell on a Saturday or Sunday: 3 November 2013, 30 October 2016, 27 October 2019, 14 November 2020 and 12 November 2023, with 8 November 2026 the sixth.
Index performance in Muhurat sessions
The Nifty 50 closed higher in 11 of the 14 Muhurat sessions from 2012 to 2025, on the NSE daily index close files. The average move across the 14 sessions was +0.27%, a webnotes.in figure computed as the simple average of the 14 daily percentage changes in the table. The three declines were -0.29% on 13 November 2012, -0.14% on 30 October 2016 and -0.63% on 19 October 2017.
| Measure, Nifty 50, 2012 to 2025 | Value | Session |
|---|---|---|
| Sessions closing higher | 11 of 14 | |
| Largest gain | +154.45 points (+0.88%) | 24 October 2022 |
| Largest fall | -64.30 points (-0.63%) | 19 October 2017 |
| Smallest gain, and most recent | +25.45 points (+0.10%), close 25,868.60 | 21 October 2025 |
| Simple average change | +0.27% | 14 sessions |
Business Standard Research, in a table published on 5 November 2026, found the Sensex and the Nifty higher in eight of the ten sessions from 2016 to 2025, with an average session return of about 0.34% for the Sensex and 0.31% for the Nifty, and 2022 the best session for both at +0.88%. The largest Muhurat move on record in that newspaper’s reporting is a Sensex gain of 5.86% on 28 October 2008, in the session after the October 2008 crash (Business Standard, 7 November 2018).
The record describes 14 short sessions, not a pattern a trade can be built on. Each move is one day’s change on thin holiday volume, the median Nifty move in the table is under half a per cent, and webnotes.in does not read the figures as a signal to buy or sell.
Origins and the Samvat year
Muhurat trading follows the Hindu trading community’s custom of opening new account books on Diwali. “Muhurat” means an auspicious time, and the session is held on the day of Laxmi Pujan, the worship of the goddess Lakshmi on Diwali, which the exchanges list as a trading holiday. The 8 November 2026 session marks the start of Samvat 2083 in the Vikram Samvat calendar, which runs 57 years ahead of the Gregorian year (Business Standard, 5 November 2026).
Business Today, on 27 October 2019, described Chopda Pujan, the worship of new account books, and reported that for Gujarati and Marwari traders the new financial year begins on Diwali, when old account books are closed and new ones opened. The Muhurat session carries that custom into the screen-based market: the first trade of the new year is placed in an auspicious hour.
The founding dates cited for the session are press figures, not exchange records. Business Standard and Business Today state that BSE began Muhurat trading in 1957 and NSE in 1992; no exchange document confirming either year has been found. The 1992 date cannot refer to NSE trading as stated: NSE was incorporated on 27 November 1992 and began equity trading on 3 November 1994.
How to take part in Muhurat trading
Taking part needs nothing beyond an active trading account with a SEBI-registered broker and, for delivery trades, a demat account. No separate registration exists. Orders go in through the broker’s normal platform, such as Kite for Zerodha clients, and the broker publishes its own Muhurat notice with its order cut-offs.
The steps follow from the 2026 schedule:
- The trading account must be active and its client code compliant by 22:00 IST on Saturday, 7 November 2026 (NSE/ISC/77098).
- Orders enter from 14:05 IST for the pre-open, or from 14:20 IST for continuous trading. A limit order caps the price paid in a thin market.
- Intraday positions close at the broker’s square-off time, which falls before 15:15 for CAS stocks and before 15:30 IST for the rest.
- Delivery purchases reach the demat account on Monday, 9 November 2026.
The Zerodha Muhurat trading 2026 page covers the session as it applies to Zerodha clients.
Muhurat trading 2027
The 2027 Muhurat trading date has not been announced. NSE and BSE had not published a 2027 trading holiday list or a 2027 Muhurat date as of 5 November 2026, and dates for 2027 shown elsewhere are estimates from the Hindu calendar, not exchange notifications. The 2026 date reached the market in NSE/CMTR/71775 on 12 December 2025, and the 2026 timings in NSE/CMTR/76941 on 19 October 2026, 20 days before the session.
One known change will shape the 2027 schedule. From 7 December 2026, SEBI circular HO/47/11/11(3)2025-MRD-POD2/I/23843/2026 of 15 October 2026 moves the closing auction to a 10-minute window from 15:30 to 15:40 IST and extends trading in stock and index derivatives to 15:45 IST, so a 2027 afternoon session built on the 2026 pattern would carry different closing times.
Frequently asked questions
What is the Muhurat trading time in 2026?
Is the stock market open on Sunday 8 November 2026?
Is the stock market closed on 10 November 2026?
When do Muhurat trades settle?
Can I trade futures and options in Muhurat trading?
Can I trade commodities and currency in Muhurat trading 2026?
Why is Muhurat trading in the afternoon now?
Do Muhurat trades result in real delivery and settlement?
Is STT charged on Muhurat trades?
What is Samvat 2083?
How has the Nifty 50 performed in Muhurat sessions?
How did the market do in Muhurat trading 2025?
Does SEBI regulate Muhurat trading?
Can I place an order before the Muhurat session starts?
When does intraday square-off happen in Muhurat trading?
Is the Muhurat trading session open for IPO and newly listed shares?
What is the Muhurat trading date in 2027?
Which shares should I buy in Muhurat trading?
See also
- National Stock Exchange
- BSE (Bombay Stock Exchange)
- Multi Commodity Exchange
- NSE Clearing
- Indian Clearing Corporation
- Securities and Exchange Board of India
- Nifty 50
- Sensex
- Closing auction session
- Pre-open session
- Pre-open session on listing day
- Periodic call auction
- Circuit limits and price bands
- Market-wide circuit breakers
- F&O ban period restrictions
- T+1 settlement
- Settlement cycle changes 2025-26
- Unique client code
- Securities lending and borrowing
- Block deal and bulk deal
- Futures and options
- Intraday trading
- Intraday auto square-off timings
- Securities transaction tax
- Capital gains tax in India
- Demat account
- Initial public offering
- Listing day trading hours
- Electronic gold receipts
- Commodity trading
- Vikram Samvat
- Zerodha Muhurat trading 2026
- Zerodha holiday list 2026
- Zerodha market timings
- Zerodha currency segment timings
- Kite by Zerodha
External references
- NSE circulars
- NSE circular NSE/CMTR/76941, Muhurat trading 2026 (PDF)
- NSE Clearing circular NCL/CMPT/77037, settlement of Muhurat trades (PDF)
- BSE notice 20261019-9, Muhurat trading in equity (PDF)
- BSE notices and circulars
- NSE trading holidays
- SEBI circulars
References
- National Stock Exchange of India. Circular NSE/CMTR/71775, “Trading holidays for the calendar year 2026”, 12 December 2025. https://archives.nseindia.com/content/circulars/CMTR71775.pdf
- National Stock Exchange of India. Circular NSE/CMTR/76941, “Muhurat Trading session on account of Diwali”, 19 October 2026. https://archives.nseindia.com/content/circulars/CMTR76941.pdf
- National Stock Exchange of India. Circulars NSE/FAOP/76940, NSE/CD/76972 and NSE/COM/76978, Muhurat trading in equity, currency and commodity derivatives, 19 October 2026.
- NSE Clearing Limited. Circulars NCL/CMPT/77037, NCL/CMPT/77038 and NCL/CMPT/77030, settlement of Muhurat trades of 8 November 2026, 21 October 2026.
- National Stock Exchange of India. Circular NSE/ISC/77098, unique client codes eligible for the Muhurat session, 26 October 2026.
- BSE Limited. Notices 20261019-9, 20261019-10, 20261019-11, 20261019-12, 20261019-13 and 20261019-30, Muhurat trading on 8 November 2026, 19 October 2026. https://www.bseindia.com/downloads/UploadDocs/Notices/20261019-9/20261019-9.pdf
- National Stock Exchange of India. Circulars NSE/CMTR/70319 (22 September 2025), NSE/CMTR/64628 (19 October 2024), NSE/CMTR/59124 (27 October 2023), NSE/CMTR/54023 (11 October 2022) and NSE/CMTR/50050 (21 October 2021); NSE Clearing circular NCL/CMPT/70409 (25 September 2025).
- National Stock Exchange of India. Daily index closing files, ind_close_all_DDMMYYYY.csv, for each Muhurat date from 13 November 2012 to 21 October 2025. https://archives.nseindia.com/content/indices/
- Business Standard. “Sensex, Nifty end higher in 8 of 10 sessions”, 5 November 2026; and Muhurat trading report, 7 November 2018.
- Business Today. “Samvat 2076: All you need to know about Muhurat trading, Chopda puja”, 27 October 2019. https://www.businesstoday.in/markets/stocks/story/samvat-2076-all-you-need-to-know-about-muhurat-trading-chopda-puja-235499-2019-10-27
- SEBI. Circulars HO/47/11/11(3)2025-MRD-POD2/I/2765/2026 (16 January 2026) and HO/47/11/11(3)2025-MRD-POD2/I/23843/2026 (15 October 2026) on the closing auction session.