What is this 2073 number? How does it pertain to the stock markets and Muhurat trading?
As per Indian calendar showing Vaisakha month of Vikram samvat 2073, and it is not related to markets
Copying from Nithin's answer here.
Muhurat Trading: The customary trading tradition on the day of Diwali is unique to India where markets open for a short duration to pay obeisance to Lakshmi, the Hindu goddess of wealth and prosperity (Lakshmi Puja). Lots of traders and market old hands use Deepawali (Lakshmi Puja) as a reference point to record how they and the markets have fared in a year. This is a legacy from days when traders and businesses used to end the financial year at the change of the lunar ‘Samvat’ year on Deepavali.
The Muhurat trading that is conducted on Lakshmi Puja on NSE & BSE is a centuries-old tradition and the day holds significance as it marks the beginning of the new year, as per the Hindu calendar or Samvat 2073 (Year 2016 as per the English calendar).
This Sun, Oct 30th, 2016 Muhurat Trading would be conducted:
- Between 6:30 PM and 7.30 PM for stock exchanges.
Do check out our tool – Zerodha Circulars, which keeps you updated with all the important circulars from exchanges and regulators.
This year, Muhurat trading will be held between 6:30 PM and 7:30 PM on Sunday, 30th October 2016. Refer to this circular. It's for the CDS segment, but the same timings will apply to other segments as well. MCX hasn't announced the timings for this year yet, so you'll have to wait for that.
Customarily, new traders start trading in the capital markets on this day and old ones usually buy some stock to mark the beginning of the year. Historically, the broader indices have stayed positive on this day and news channels with prominent personalities discuss their prediction for the next Samvat, this time 2072.
So Samvat 2073 is just the beginning of a Hindu new year.
On a side note, if you're trading with Zerodha, check out this post. There's no brokerage charged for this session! :-)