The Indian equity markets will hold a special “Muhurat” trading session to mark the start of the Hindu New Year on Sunday.

The special trading session is held every year on Diwali.

The annual one-hour special “Muhurat” session will be held between 6.15 p.m and 7.30 p.m.

The session is considered to be auspicious for stock market trading. It is believed that the “Muhurat” trading on this day brings wealth and prosperity throughout the year.

This ritual has been observed for ages by the trading community.

The session will mark the start of the Hindu New Year — Samvat 2073.

Till date in Samvat 2072, the barometer index gained 2,074.56 points or 8.02 per cent, whereas the NSE Nifty swelled by 813 points or 10.38 per cent.

Indian stock markets dropped in morning trade on Thursday, ahead of earnings from several blue chip companies. Shares of Tata Motors, HDFC Bank, Axis Bank, and SBI led the decline for the market.

The BSE Sensex dropped 0.42 percent, or 116.75 points to trade at 27719.76. The 30-share index reached a high of 27,843.62 in the morning trade.
The S&P BSE Midcap Index dropped 0.53 percent, while the BSE S&P Smallcap Index slipped 0.08 percent.

Some major companies due to report earnings today are Tech Mahindra, Maruti Suzuki, PVR, ONGC, MRF, TVS Motor and Bharat Electronics.

Oil prices traded slightly higher as Brent crude futures gained 0.12 percent to trade at $50.04 per barrel, while US WTI crude futures rose 0.12 percent to trade at $49.24 a barrel.

US stock markets ended mixed, with the Dow Jones Industrial Average rising 0.17 percent, to 18,199, the S&P500 index dropping 0.17 per cent, and the Nasdaq Composite slipping 0.63 percent.