 "Stock broker looking at screen outside the Bombay Stock Exchange")
Leading stock exchange BSE has decided to extend the trading session for gold Exchange Traded Funds (ETFs) and Sovereign Gold Bond (SGB) on October 28 till 07:00 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 06:30 pm to 07:30 pm.
"On the auspicious occasion of Dhanteras on Friday, October 28, 2016, the exchange has decided to conduct an extended Live trading session in Gold ETF securities and SGB securities in the equity segment," the BSE said in a notice.
After the regular market hours from 09:15 am to 03:30 pm, trading in gold ETFs will resume at 04:30 pm on October 28 and continue till 07:00 pm, 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 SGBs are government securities denominated in grams of gold offering 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 03:30 pm 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, according to existing settlement schedule, it added.
