Diwali Trade Set To Cross ₹7 Lakh Crore As Markets Mark Muhurat Trading In Red

 

A shopper browses colourful Diwali lights at a market stall. (Photo: Stuti Sakhalkar via Flickr, CC-BY)

India celebrated Diwali on Sunday with record festive spending, as traders said festival-related business across the country has already crossed ₹6 lakh crore and is expected to go past ₹7 lakh crore before the celebrations end. The festival of lights, it seems, has also been a festival of record shopping.

The Confederation of All India Traders (CAIT), the country's largest traders' body, said on Saturday that Diwali shopping had already generated more than ₹6 lakh crore in business nationwide. It expects further purchases over the remaining festive days to push the total beyond ₹7 lakh crore, making this one of the biggest Diwali trading seasons on record.

A Record Festival For Traders

Delhi alone has recorded festive business of more than ₹1 lakh crore, according to the traders' body, as markets across the capital stayed crowded through the weekend. From gold and silver coins to electronics, sweets, decorative lights and traditional account books, shoppers bought across categories.

The numbers are association estimates gathered through CAIT's network of traders, not an independently audited measure of retail sales. But traders say the mood on the ground was unmistakable: busy markets, long queues at popular shops and strong demand for both everyday items and big-ticket purchases.

Muhurat Trading Opens Samvat 2083

The stock markets also joined the celebrations with their traditional Muhurat trading session on Sunday, marking the start of Samvat 2083, the Hindu new financial year. The National Stock Exchange and the Bombay Stock Exchange held the special session from 2:20 pm to 3:30 pm, even though Sunday is normally a market holiday.

The session, however, ended in the red. The Sensex closed at 80,999.40, down 28.62 points, while the Nifty 50 slipped 43.95 points to 24,986.40, as selling in IT, banking and financial shares weighed on the benchmarks. Traders traditionally make small purchases during Muhurat trading to seek the blessings of Goddess Lakshmi, but the session itself carries no guarantee of gains.

A Week Of Strong Gains Behind It

The soft close came after an exceptionally strong week for Indian equities. On Friday, the Sensex had surged 1,718.01 points to close at 81,028.02, reclaiming the 80,000 mark, while the Nifty gained 493.75 points to settle at 25,030.35. Both benchmarks gained more than 8 per cent over the week, their strongest weekly performance since February 2021.

The rally extended a winning run of seven consecutive sessions, even as global markets sold off. For many investors, the Muhurat session was less about the day's small dip and more about beginning the new Samvat year on an optimistic note after a powerful week.

What Comes Next

The festive calendar continues with Govardhan Puja on Monday, 9 November, and Bhai Dooj on Tuesday, 10 November, when markets will remain closed for Diwali-Balipratipada. With Chhath Puja approaching as well, traders expect the festive rush to continue for several more days.

For small businesses, the season matters far beyond the headlines. Diwali is the biggest shopping period of the year for millions of traders, and a strong festival can set the tone for months of business ahead.

Did you shop for Diwali this year — and what did you buy first, gold, gadgets or gifts for the family? Tell us in the comments below.