New Delhi, November 7: The Diwali-related trade in the national capital has crossed a record Rs 1 lakh crore while national sales are poised to cross Rs 7 lakh crore amid hectic buying that peaked on Dhanteras, according to figures compiled by the Confederation of All India Traders (CAIT) in a statement issued on Saturday.

Source: Sambad English

CAIT Secretary General and Member of Parliament Praveen Khandelwal said that, according to information received so far, Diwali-related trade in Delhi has crossed the Rs 1 lakh crore mark, while nationwide Diwali business has exceeded Rs 6 lakh crore. Considering the continued surge in customer footfall and the strong buying sentiment in markets, the total figure is expected to cross Rs 7 lakh crore, he said.

This year, exceptionally strong demand has been witnessed across several product categories, including gold, silver and jewellery, as well as electronic goods and home appliances such as mobile phones, LED televisions, refrigerators, washing machines and air conditioners, according to the CAIT statement.

Source: BizzBuzz

The Saturday update builds on the record single-day trade reported on Dhanteras on Friday, when buying peaked across markets. CAIT had earlier projected, in October, that festive trade from Navratri to Diwali could cross Rs 7 lakh crore, an increase of about 15–18 per cent over last year's roughly Rs 6.05 lakh crore.

Diwali falls on Sunday, November 8 this year, with the special Muhurat trading session on the stock exchanges and one more day of festive buying still to come, which is why CAIT expects the national tally to keep rising past the Rs 7 lakh crore mark.