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Best Things You Can Buy This Dhanteras

21 Oct 2022 0 COMMENT

The widely celebrated 5-day Diwali festival begins with Dhanteras, also known as Dhantrayodashi. As each day in this festival of lights has its own importance, Dhanteras is the festival of wealth and prosperity.

Dhan means riches, and Teras denotes the thirteenth day. It is believed that during Samundra Manthan, or the churning of the sea, Goddess Lakshmi - the goddess of wealth - emerged from the ocean of milk on this day. As per ancient traditions, Dhanteras is believed to be the luckiest day to buy items made of gold, silver, and brass, which are considered to bring good fortune, luck, wealth, and protection from the evil eye.

Here, we suggest 10 things to buy on Dhanteras 2022 that fall on October 23 this year.

1. Gold, Silver

Gold and silver have been the favourite asset of Indians. Gold symbolises prosperity and wealth. It is considered lucky to purchase gold and silver coins or jewellery made of gold and silver on Dhanteras. Gold also holds investment value and has appreciated in the long term.

Even from a financial sense, the past few years have seen the rise of inflation. Gold is considered as a robust hedge against inflation.

2. Gold, Silver ETF

Gold Exchange Traded Funds (ETFs) or Silver ETFs are mutual fund schemes that allow you to invest in the electronic form of gold and silver. This helps in investing in gold and silver without purchasing physical metal.

3. Utensils

Purchasing utensils made of copper, brass or silver on Dhanteras is considered auspicious. It is believed that these utensils should be filled with water or food before entering the house. Meanwhile, objects made of iron, steel or aluminium should not be bought.

4. Equities

People looking to invest for the long term can opt for equity investment this Dhanteras. Equities can amplify wealth in the long run if invested strategically.

5. Equity Mutual Funds/ETFs

If you want to invest in stocks but don’t know much about them, investing in mutual funds is the best option on Dhanteras as it will provide better returns with the power of compounding. If you don’t know which mutual fund to select, the simplest option would be the Nifty index fund or ETF.

6. Real Estate

Real estate developers and banks come up with several festive offers that benefit consumers and homebuyers. On Dhanteras, you can purchase a property for investment or as an owned place to live in.

7. Vehicle

With a host of discount offers and various schemes offered by automobile companies and banks during Diwali, it is a perfect period to buy a car or a two-wheeler.

8. Electronics

This Dhanteras, you can also choose to upgrade your phone, laptop, television, refrigerator or any other electronic appliances in your home. You can benefit from various online and offline festive sales that take place and save a lot of money.

9. Insurance

Another option to consider buying on Dhanteras is an insurance scheme for yourself or your family. It protects you and your family in unexpected situations.

10. Broom

Lastly, it is also auspicious to buy a broom on Dhanteras as it is considered a form of Goddess Lakshmi. It is believed that by buying a broom on Dhanteras, one gets rid of any kind of financial trouble, misery, and health problems.

Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.