Diwali is the festival of lights and joy. It is a five-day festival which begins with Dhanteras, an auspicious day when people buy something as they believe investing during Dhanteras brings prosperity.
People who actively invest can plan to impress goddess Lakshmi by purchasing some stocks during the Muhurat trade. It’s time to realise that Diwali is just another day of trading. It is the best time for investors to plan their long-term wealth and formulate their investing portfolio.
If you are planning to invest during Dhanteras, here are some investment plans.
Top 10 Investments on Dhanteras 2023
Gold & Silver
The most favourite assets for Indians to buy during Dhanteras 2023 are gold and silver. Making such investments in Dhanteras is considered to be auspicious and the practice finds its origin in the scriptures. The people in India prefer buying gold and silver during Dhanteras as they believe in investing in the long term. However, many people even buy gold coins and bars.
Sovereign Gold Bonds
Buying gold on Dhanteras has become a tradition, and you can buy the sovereign gold bonds scheme that the government launched in 2015 instead of buying gold in physical form. You can get the opportunity to own gold rather than earn interest on it.
Invest in SIP
This is another effective way to increase wealth. Investors find it the right time to invest in SIPs with clear goals for a particular time. The SIPs work with the power of compounding, and the more time you give to your equities, the more returns you will get.
Invest in Gold ETFs
Gold ETFs are a popular choice among investors. The Gold Exchange Traded Funds or ETFs are mutual fund schemes which only invest in gold and are perfect for those who invest in gold during Dhanteras. But Gold ETF is available in electronic form rather than physical form, and it can help you get high returns in the long run.
Investing in insurance for protection can be a great idea on the auspicious day of Dhanteras. One can invest in a good insurance policy as it is an asset not only for you but for your family as well. However, you should be aware of policies which combine insurance and investment as it might do more harm than good in the long run. Always ensure that you have adequate risk coverage by choosing life and health insurance.
Other Financial Investment
Dhanteras is believed to be an auspicious day to invest in financial assets like bonds, and fixed deposits as these assets will get appreciated over time.
First Published: Nov 3 2023 | 3:25 PM IST