The customary Muhurat Trading - a non-scheduled trading session - will take place between 6.15 pm and 7.15 pm on November 4 this year i.e Diwali day, according to the NSE and BSE. The block deal session will take place between 5.45 pm and 6 pm and the pre-open session between 6 pm and 6.08 pm.

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Here are key things to know about Muhurat Trading:

What is Muhurat Trading?

Muhurat trading is the trading activity in the Indian stock market on the occasion of Diwali. The stock exchange specifies the time of Muhurat trading every year.

Muhurat is an occasion in which the investing and trading communities pay tribute to goddess Lakshmi, the benevolent deity of wealth and prosperity, and celebrate the start of ‘Samvat’ or the New Year. According to the Hindu calendar, “Muhurat” is considered an auspicious time during which planets set themselves in such a way that work done during this time gives good results.

According to beliefs, people trading during this one hour have a better chance of earning wealth throughout the year. During the special trading window, investors make a token purchase of an initial investment.

When did this practice start?

The practice of Muhurat Trading began on BSE in 1957 and on NSE in 1992.

Where can one watch the trading sessions?

The trading sessions will be streamed live on Facebook — facebook.com/BSEIndia and Twitter — twitter.com/BSEIndia.

Who can invest during 'Muhurat trading'?

Any investor or trader can trade on Muhurat trading.

What are the factors to keep in mind before investing during this session?

According to experts, Contest Listing investors must have confidence and knowledge about the company's finances before investing.

“The trader must have identified the correct trade set up for profit. Just because it is a Muhurat session investors should not buy stock, which is not backed by fundamental and focused management,” said Jaikishan Parmar—Sr. Equity Research Analyst, Angel One.

Additionally, investors should remember that whether investments are during Muhurat trading or normal days, they should always check due diligence before investing.

"An investor must go through the company's financials and what are the aspects which will drive growth and return ratio. The company should have a good reinvestment opportunity so that company can grow for multi-years. When any product is under-penetrated, the company in this segment can reinvest their profit for future growth,” Parmar said.

Hence, in short, a company with clear management, healthy balance sheet which has growth potential for the long term should be considered for investing.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.