Mood: The mood of the video appears to be vibrant and energetic, evoking a sense of celebration and festivity, likely tied to the Diwali festival. The theme seems to revolve around a party or a collection of party songs, given the title 'Diwali Dhamaka Ultimate Party'. The emotion conveyed is one of joy and revelry.

Environment: The setting seems to be a nighttime party or celebration, possibly during the Diwali festival, given the title. The environment is lively, with a crowd of people in the background, suggesting a club or a large gathering place. The presence of a dance floor or stage is implied, with a woman in a dancing pose, indicating a performance or a music video setting.