Top stock exchanges NSE and BSE have decided to extend the trading session for gold exchange-traded funds (ETFs) and sovereign gold bonds (SGB) on November 5, till 7 pm on the occasion of Dhanteras, a festival celebrated two days before Diwali.
Gold ETFs track the metals prices and each unit of these securities is generally equivalent to one gram of gold, while SGB are government securities denominated in grams of gold and offer an alternative to holding gold in physical form.
The exchanges will conduct muhurat trading session on account of Diwali Laxmi Pujan on November 7 from 5:30 pm to 6:30 pm, BSE and NSE said in separate notices.
“On the auspicious occasion of Dhanteras on Monday November 5, 2018 the exchange has decided to conduct extended live trading session in Gold ETF securities and SGB securities in the equity segment,” BSE said.
Separately, National Stock Exchange (NSE) also announced about extended trading sessions on Dhanteras.
After the regular market hours from 9:15 am to 3:30 pm, trading in gold ETFs and SGB will resume at 4:30 pm on November 5 and continue till 7 pm, the exchanges said.
It is considered auspicious to buy valuables like gold on occasions like Dhanteras, Diwali and Akshay Tritiya in India.