Leading stock exchange BSE has decided to extend the trading session for Gold Exchange Traded Funds and Sovereign Gold Bond on October 28 till 7 pm on Dhanteras, a festival celebrated two days before Diwali. Besides, the exchange will conduct 'muhurat' trading session on account of Diwali Laxmi Pujan on October 30 from 1830 hrs to 1930 hrs.
"On the auspicious occasion of Dhanteras on Friday, October 28, 2016, the exchange has decided to conduct extended Live trading session in Gold ETF securities and Sovereign Gold Bond (SGB) securities in the equity segment," BSE said in a notice.
After the regular market hours from 0915 hrs to 1530 hrs, trading in gold ETFs will resume at 1630 hrs on October 28 and continue till 1900 hrs, the exchange said.
It is considered auspicious to buy valuables like gold on occasions like Dhanteras, Diwali and Akshay Tritiya in India. Gold ETFs track the metal's prices and each unit of these securities is generally equivalent to one gram of gold, while Sovereign Gold Bonds are government securities denominated in grams of gold offer an alternative to holding gold in physical form.
Gold ETFs 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 all unmatched pending orders of Gold ETF securities and SGB securities at 1530 hrs would be cancelled and not carried forward to the extended trading session.
All trades done on October 28 during the normal as well as extended trading sessions shall be merged and settled on Wednesday November 2 as per existing settlement schedule, it added.