THE POWER BRIEF . MORNING EDITION
Diwali trade may cross ₹7 lakh crore, traders say, as India celebrates
The Power Brief | Sunday, 8 November 2026 | Diwali Special Edition
India celebrates Diwali today amid estimates of record festive commerce, a special trading session on its stock exchanges and extraordinary pressure on transport networks. The Confederation of All India Traders says festival-related business has exceeded ₹6 lakh crore nationally and expects the total to cross ₹7 lakh crore. Indian exchanges will open for Muhurat trading this afternoon, while Delhi enters the festival with severely polluted neighbourhoods and restrictions on fireworks. Railways, meanwhile, is managing passenger volumes substantially above its normal daily levels. ¹ ⁴ ⁶
“May we preserve the environment, live with harmony.” — President Droupadi Murmu, in her Diwali message issued on 7 November 2026. ³
Diwali is an important period for household consumption, small businesses, transport and financial markets. The scale of celebrations is visible in crowded shopping districts and railway stations, but the available figures require careful interpretation. Trade-association estimates are not equivalent to audited national sales, market rallies do not guarantee future returns, and festive activity brings environmental and logistical costs alongside economic benefits.
Traders forecast more than ₹7 lakh crore in festive business
Key facts: More than ₹6 lakh crore in estimated nationwide trade; projected total above ₹7 lakh crore; Delhi’s estimated festive business above ₹1 lakh crore. ¹
The Confederation of All India Traders (CAIT) said on Saturday that shopping associated with this year’s Diwali celebrations had generated more than ₹6 lakh crore in business across India. The organisation expects further purchases to take total festive trade beyond ₹7 lakh crore.
Delhi alone has recorded estimated business exceeding ₹1 lakh crore, according to the association.
The figures follow strong buying around Dhanteras on Friday, when jewellery, precious metals, electronics and household products attracted substantial demand. Traders also reported purchases of clothing, sweets, decorative materials and gifts. ²
The scale of the estimate deserves attention, but so does its origin.
CAIT represents traders and gathers market information through its network. Its figures are association estimates rather than a comprehensive, independently audited measure of retail sales across the economy. The publicly reported totals do not establish how much business represents additional consumption rather than purchases shifted into the festival period.
They also do not distinguish clearly between growth in quantities sold and growth attributable to higher prices.
Gold and jewellery offer an example. Spending can rise when precious-metal prices increase, even if the quantity purchased does not grow proportionately.
Analysis: Festive commerce provides an indication of activity in consumer-facing markets and among smaller businesses. Its significance for the wider economy is better assessed alongside GST collections, official consumption data and company sales disclosures, rather than through a single trade estimate.
Next milestone: Post-festival sales reports and official economic indicators will help establish how much of the reported momentum continues beyond Diwali.
Stock exchanges open for a special Sunday trading session
Key facts: Muhurat trading on 8 November; pre-open session from 2:05 p.m.; main equity trading begins at 2:20 p.m.; most continuous equity trading ends by 3:30 p.m. IST. ⁴
The National Stock Exchange and BSE will conduct their annual Muhurat trading sessions this afternoon, continuing a tradition associated with the beginning of the new Samvat accounting year.
The session is an exception to the exchanges’ normal Sunday closure.
For equities, the pre-opening process begins at 2:05 p.m. Continuous trading starts at 2:20 p.m. and runs until 3:30 p.m. for securities outside the Closing Auction Session framework. Trading in securities covered by that framework ends at 3:15 p.m., followed by a separate closing auction.
Derivatives and commodity segments have their own schedules. Trades executed during the session create normal settlement obligations.
The ceremonial session follows an exceptionally strong week for Indian equities.
On Friday, the Sensex closed at 81,028.02 and the Nifty 50 at 25,030.35. Both benchmarks gained more than 8% over the week, their strongest weekly performance since February 2021, according to Reuters. ⁵
The rally was supported by falling crude-oil prices, renewed overseas investment and expectations of reduced geopolitical disruption.
Analysis: Muhurat trading has cultural significance for many investors, but its ceremonial character does not change market risk. The session’s performance will reflect trading activity and sentiment during a short window, not determine the direction of returns in the new financial year.
Next milestone: Today’s special trading close, followed by normal market activity on Monday. Exchanges will observe another holiday on 10 November for Diwali Balipratipada.
Delhi enters Diwali with very poor air and limited firecracker permission
Key facts: Delhi AQI approximately 383 at 8 a.m.; certified green crackers permitted only during specified hours; restrictions near hospitals and other sensitive sites; broader firecracker ban resumes on 9 November. ⁶ ⁷
Delhi began Diwali under a thick layer of pollution, with the city recording an Air Quality Index of approximately 383 on Sunday morning, according to Central Pollution Control Board data reported by Business Standard.
Several monitoring locations recorded readings above 400, placing them in the severe category. The city’s overall figure remained within the very poor range.
Pollution was already elevated before the main evening celebrations, complicating attempts to attribute any subsequent deterioration to a single source.
The Supreme Court has temporarily permitted only certified green firecrackers in Delhi-NCR on 7 and 8 November, between 6 a.m. and 7 a.m. and again between 8 p.m. and 10 p.m.
Firecrackers remain prohibited within 300 metres of hospitals, healthcare centres, educational institutions, old-age homes and designated silence zones.
The Court has also restricted unauthorised sales and directed enforcement agencies to prevent the circulation of conventional and prohibited fireworks.
The temporary relaxation expires after today, with the broader ban due to return on 9 November.
Analysis: The restrictions represent an attempt to accommodate celebrations while limiting additional pollution and noise. Their effectiveness will depend on enforcement and actual emissions. Post-festival air-quality changes will also need to be interpreted alongside weather, traffic, industrial activity and regional pollution sources.
Next milestone: Monitoring data from 8–9 November and subsequent pollution-control reports should offer a clearer account of conditions during and after the festival.
Festive travel pushes Delhi railway footfall towards eight lakh a day
Key facts: Approximately two crore passenger movements through major Delhi-area stations between 1 October and 5 November; peak daily footfall around eight lakh; 700 additional AI-enabled cameras installed for monitoring. ⁸
Indian Railways has expanded special services and passenger-management arrangements to accommodate travel during Diwali and the approaching Chhath festival.
Railway Minister Ashwini Vaishnaw reviewed arrangements at New Delhi Railway Station on Friday, including access routes, waiting areas, security deployment and crowd monitoring.
According to the Ministry of Railways, major stations in the Delhi area recorded approximately two crore passenger movements between 1 October and 5 November. Average daily footfall increased from around five lakh during normal periods to approximately eight lakh during the peak days of 1–5 November.
These are recorded passenger movements, not a count of distinct individuals.
The Ministry also reported that major Mumbai-area stations handled approximately 1.5 crore passenger movements over the same period, with peak daily numbers rising to around five lakh.
Railways has introduced additional special trains, expanded Railway Protection Force deployment and established holding areas intended to separate waiting passengers from crowded platforms.
Approximately 700 additional AI-enabled cameras have been installed at New Delhi Railway Station, according to the Ministry.
Analysis: Festival travel illustrates the importance of railway capacity to household mobility and regional economic activity. The larger passenger volumes also create operational risks, particularly where entry routes and waiting areas become congested. The success of special arrangements should ultimately be measured through service reliability, crowd safety and passenger experience.
Next milestone: Chhath-related travel will maintain pressure on several northern and eastern routes. Railways will need to sustain crowd-management measures beyond Diwali itself.
The day ahead
Diwali, 8 November: The principal Lakshmi Puja celebrations take place this evening. For New Delhi, Drik Panchang lists the customary puja window from approximately 5:54 p.m. to 7:50 p.m. IST. Timings differ by location. ⁹
2:20 p.m. — Muhurat trading: India’s principal stock exchanges begin the special session for Samvat 2083.
8–10 p.m. — Delhi-NCR: The final permitted evening window for certified green firecrackers, subject to the Supreme Court’s restrictions.
9 November: The broader Delhi-NCR firecracker ban is scheduled to resume. Indian equity markets return for their regular trading session.
10 November: NSE and BSE observe the Diwali Balipratipada holiday.
11 November: Bhai Dooj celebrations conclude the principal festival sequence in many parts of India.
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Sources
Economic Times Brand Equity / IANS, India’s Diwali Sales Poised to Cross ₹7 Lakh Crore, 7 November 2026. Read
NDTV, India’s Diwali Trade Set to Cross ₹7 Lakh Crore, 7 November 2026. Read
President’s Secretariat / PIB, President of India’s Greetings on the Eve of Diwali, 7 November 2026. Official statement
Zerodha, Muhurat Trading Session on Account of Diwali, 27 October 2026, based on exchange circulars. Trading schedule
Reuters, Indian Stocks Buck Global Tech Rout, Post Best Week in Six Years, 6 November 2026. Read
Business Standard, Delhi Air Remains Very Poor on Diwali, 8 November 2026. Read
Akashvani News, Supreme Court Allows Green Crackers in Delhi-NCR for Stipulated Times, November 2026. Read
Ministry of Railways / PIB, Railway Minister Reviews Passenger Facilities at New Delhi Railway Station, 6 November 2026. Official release
Drik Panchang, Diwali Lakshmi Puja Timings for 8 November 2026. Festival calendar
Information cutoff: Approximately 10:25 a.m. IST, Sunday, 8 November 2026.
Reporting note: This special edition draws on official statements, public regulatory information, stock-exchange schedules, market reporting and attributed industry estimates. CAIT’s festive business figures have not been independently audited. Air-quality measurements are time-specific, and activities scheduled for later today are not presented as completed.
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