Why US Stocks are a Smart Choice for Muhurat Trading 2024

Every Diwali, the Indian stock market observes a unique ritual—Muhurat Trading. More than just a trading session, it’s a time-honoured tradition symbolising prosperity, new beginnings, and a belief in creating long-term wealth. For countless investors, Muhurat Trading isn’t just about buying stocks; it’s about starting a financial journey on an auspicious note.

Muhurat Trading Timings 2024

Stock market leaders, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) determine the Muhurat Trading schedules each year. This year, the Muhurat trade will take place on 1 November. According to the BSE website, the stock exchanges have set the Muhurat Trading time as 6-7:10 p.m. 

Broaden Financial Horizons: Why Consider US Stocks this Diwali?

While the Indian market is comforting and familiar, the US Stock market offers unparalleled opportunities for diversification and growth. 
Thanks to the dominance of tech giants, healthcare innovators, and energy leaders, US Stocks have outpaced many global markets in recent years. Sectors that you might easily miss in the Indian market can be accessed easily through US Stocks. Investing in the United States Stock market helps hedge risks against domestic volatility and exposes you to international trends and growth.
 

Maximising Long-Term Gains: A Dual Market Strategy

Muhurat Trading has always been about setting the tone for long-term investments. While the US Stock market doesn’t have Muhurat Trading like India, Diwali may still be a symbolic time to expand your portfolio.

Investing in US Stocks allows you to tap into industries that lead global innovation. For instance, AI technology, electric vehicles (EV), and cloud computing are areas where US companies are driving the future. A dual market strategy, investing in both Indian Stocks for local stability and US Stocks for global growth can help you maximise your potential returns in the long run.

Top Performing US Stocks to Consider for Diwali 2024

Here are some of the NYSE (New York Stock Exchange) and NASDAQ (National Association of Securities Dealers Automatic Quotation) listed companies suggested by the investment experts at Fi that you may explore. These companies represent some of the most innovative and stable investments globally. 

• Meta - Meta Platforms, Inc. is a leading technology company that develops products enabling global connectivity and communication. Known for its popular platforms like Facebook, Instagram, and WhatsApp, Meta also invests in virtual and augmented reality through its Reality Labs segment.
• Tesla—Tesla is a leading innovator in the electric vehicle and renewable energy sectors, known for its cutting-edge technology and sustainable solutions. Tesla management highlighted that they are preparing to launch new, more affordable cars in the first half of 2025. These cars aim to cut the total cost of ownership, making electric vehicles (EVs) affordable to more consumers.
• Uber Technologies - A global technology company that connects consumers with independent providers of ride services, meal preparation, grocery, and other delivery services, Uber is a leader in the ride-sharing and delivery service industries.
• General Motors (GM) Company - GM Motors designs, builds, and sells a wide range of vehicles, including trucks, crossovers, and cars, under well-known brand names such as Buick, Cadillac, Chevrolet, and GMC. GM also offers automotive financing and insurance services and is actively involved in developing autonomous vehicle technology.
• Philip Morris International - A leader in the tobacco industry, pivoting significantly in recent years toward smoke-free products. Philip Morris's updated guidance for 2024 pointed to an improved adjusted EPS range of $6.55 to $6.67. This adjustment mirrors the company's confidence in sustaining its growth trajectory and its ability to navigate the complexities of global markets and regulatory environments.
• Nvidia (NVDA) - A significant force in graphics processing and AI technology, Nvidia is at the forefront of innovations driving future industries.

• Microsoft (MSFT) - From cloud computing to AI-driven innovations, Microsoft remains one of the most dominant players in the tech world.

  Conclusion

  As we approach this year's Muhurat Trading session, it's an opportune time to reflect on long-term wealth-building strategies. While the Indian stock market remains a trusted avenue for investments, diversifying into US Stocks can offer exposure to global growth, innovation, and a resilient investment portfolio. 

  Get Muhurat Trading Ready Through the Fi App

  If you are interested in the Diwali stock recommendations and want to start diversifying your investments on this auspicious day, then the Fi Money platform could be where you start! As a money management platform, Fi offers several investment options. Short-term or Long-term — investing with a simple swipe of your phone's screen is easy.