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Leading bourse NSE has decide to extend the
trading session for Gold Exchange Traded Funds (ETFs) on 2015, November 9 till
19.00 hours on Dhanteras, a festival celebrated two days before Diwali.
"The Exchange is conducting an extended live
trading session on Monday, November 9, 2015 on the auspicious occasion of
Dhanteras for trading in Gold Exchange Traded Fund (Gold ETF) securities
only," NSE said in a notice.
After the regular market hours from 09.15 hours
to 15.30 hours, trading in gold ETFs will resume at 16.30 hours on November 9
and continue till 19.00 hours, the exchange said.
Another bourse, BSE has issued a similar notice
yesterday saying "the exchange will extend the trading session for Gold
Exchange Traded Funds on November 9, 2015 till 1900 hours on account of
Dhanteras, a day considered auspicious for buying gold."
Gold ETFs track the metal's prices and each unit
of these securities is generally equivalent to one gram of gold.
It is considered auspicious to buy valuables like
gold on occasions like Dhanteras, Diwali and Akshay Tritiya in India.
Returns from Gold ETFs are linked to the domestic
price of physical gold but spare the investors from the trouble of buying and
keeping the yellow metal in physical form.
Gold ETF of Axis mutual fund, Birla Sunlife
mutual fund, Uti mutual fund, HDFC mutual fund, ICICI prudential and Goldman
Sachs are some of the securities that would be available for trading.
The exchange has informed their members that
outstanding orders i.e. unmatched orders at 15.30 hours of Gold ETF securities
will be carried forward to extended trading session. However, members can
cancel these orders during the pre-open period viz. 16.25 hours to 16.30 hours.
"Members would remain logged in to the
trading system after the end of post closing session at 16.00 hours and would
not need to log in again for the extended trading session at 16.30 hours,"
NSE said in its notice.
"All trades done on Monday, November 9, 2015
during the normal as well as extended trading sessions shall be merged and
settled on Friday, November 13, 2015 as per existing settlement schedule,"
it added.
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