Step 1: Analyze Statement A.
Hydrated salts can be used as primary standards provided they have a definite and stable composition. Hence, Statement A is correct.
Step 2: Analyze Statement B.
A primary standard must be chemically stable and should not react with air (for example, should not absorb moisture or \( \mathrm{CO_2} \)). Thus, Statement B is correct.
Step 3: Analyze Statement C.
Although reactions involving primary standards should be stoichiometric, they need not always be instantaneous. Therefore, Statement C is incorrect.
Step 4: Analyze Statement D.
A primary standard must be readily soluble in water to prepare solutions accurately. Hence, Statement D is incorrect.
Step 5: Analyze Statement E.
Primary standards should preferably have a low relative molar mass so that weighing errors are minimized. Hence, Statement E is correct.
Step 6: Conclusion.
Correct statements are A, B and E only.
Final Answer:
\[
\boxed{\text{A, B and E Only}}
\]