The festival of Diwali is an annual, five-day celebration held by millions of Hindus, Jains, Sikhs and some Buddhists in India and across the world. It is known as the festival of lights. Each community has its own unique way of celebrating Diwali and, for many, exchanging gold and gifts is an important part of Diwali as a way of expressing love and gratitude.
Gifting jewellery is especially popular, and trends associated with the festival highlight the strong emergence of platinum as an increasingly in-demand jewellery category in India in recent years. What is more, investment in precious metals – traditionally gold, but with platinum also an option due to its strong fundamentals and wide discount relative to gold – is becoming a recognised alternative to traditional gifting during Diwali.
Established in 1957 at the Bombay Stock Exchange and subsequently adopted by the National Stock Exchange, Muhurat Trading is a period in Diwali during which the stock market in India is active for an hour, despite the public holiday. Muhurat is a Hindu term that signifies an opportune window of time, and this special session can attract large trading volumes. This year Muhurat Trading will be held on Tuesday, 21 October.