Dhanteras: BSE to extend Gold ETF trading session

New Delhi: Leading stock exchange BSE Monday decided to extend the trading session for Gold Exchange Traded Funds on November 9 till 1900 hours on account of Dhanteras - a day considered auspicious for buying gold.

"On the auspicious occasion of Dhanteras on Monday, November 9, 2015 the exchange has decided to conduct Extended Live Trading session in Gold Exchange Traded Funds (ETF) securities in the equity segment," BSE said in a notice.

It would conduct an extended live trading session on the day.

After the regular market hours from 0915 hours to 1530 hours, trading in gold ETFs will resume at 1630 hours on November 9 and continue till 1900 hours, the exchange said.

The 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 Sun Life Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, IDBI Mutual Fund and Kotak Mutual Fund 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 at 1530 hours would be cancelled and not carried forward to the extended trading session.

"Members would remain logged in to the trading system after the end of post closing session at 1600 hours and would not need to log in again for the extended trading session at 1630 hours," BSE 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.