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'Margashirsha Purnima', one of the holy days as per Hindu culture, falls on the full moon day of the Margashirsha month (as clear from the name itself) which is the ninth and the last holiest month according to the Hindu scriptures. This month is known nationwide for dedication. In the Puranas, it was also known as 'Maasonam Margashirshoham' which means that 'no other month is as auspicious as Margashirsha.' On this auspicious day, as the Sun and the Moon are directly opposite to each other, that's why, the Moon is believed to have a strong influence on the Earth, the water elements, and everything in the universe and hence, this day is also known as the "Day of Divinity". Due to this reason, Lord Moon (Chandra Dev) is worshiped on this day which has a significant importance.
Some Hindu scriptures say that the Moon is blessed with nectar (Amrit) on this day. That's why sweet sugary items are offered to the Moon deity on the night of Margashirsha Purnima.
Basically, on Margashirsha Purnima, 'Brahma Muhurta' is considered the best for waking up & performing a vow after taking bath early. Bathing in sacred rivers is generally advised but for those who aren't able to, they can add basil leaves to the bathwater, and then can take a bath. After bathing, offerings are made to the Sun, mantras are sung, clean, and simple & sober clothes are worn. Some people also donate food and clothes to the needy on this day as Hindu scriptures have also mentioned about donating as a good Karma on this day of Margashirsha Purnima. Meditation is also performed at many places. And at night, Arghya is given to the moon. Fasting can also be done on this holy day of Margashirsha Purnima to please the moon deity as the moon rules our mind & emotions.
Apart from Moon, Sri Hari Vishnu & Lord Shiva are also worshiped on this day to get blessings from them. At many places, the stories of Satyanarayana are also very famous and are held on this day which bring happiness, success, and mental tranquility to one's life in every aspect.
Briefly, this is the day for worship of Chandra Deva, Sri Hari Vishnu & Lord Shiva. People who fast on this day with complete devotion and faith in God are believed to achieve tranquility, bring calmness & remove pessimism.
Wish you all a very Happy Margashirsha Purnima. May this holy day bring peace and remove negativity from your life.