This week India is celebrating Diwali, the festival of light. The festival is important for Hindus, Sikhs and Jains. At this time houses are decorated with candles, lamps and wall and door hangings.
Photo credit: Indianfestivals.info
For Hindus one of the main events associated with Diwali is the birth of Lakshmi, the goddess of wealth. The exact date of Diwali differs from year to year, but it always comes around the end of the harvest season for most of India. Hindus perform Lakshmi puja, to give thanks for the harvest and pray for plenty in the year to come.
The Indian stock market upholds Diwali tradition by opening for one hour during the festival for Muhurat trading (Muhurat is an auspicious time calculated according to Indian astrology)
However recent financial performance threatens to dampen spirits this year. The Times of India predicts a gloomy mood for this afternoon’s Muhurat trading.
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