Many Indians consider Dhanteras as a very auspicious occasion to buy gold ornaments. Many jewellers launches promotional schemes to attract gold buyers, while stock exchanges have extended trading hours for gold trade on October 17 till 19:00 hrs.
Leading stock exchange NSE has decided to extend the trading session for Gold Exchange Traded Funds (ETF) and Sovereign Gold Bond (SGB) on October 17 till 19:00 hrs on Dhanteras, a festival celebrated two days before Diwali. Further, the NSE will conduct Muhurat trading session on account of Diwali Laxmi Pujan on October 19 from 18:30 hours to 19:30 hours.
In Last week, Bombay Stock Exchange (BSE) had announced the similar move. After the regular market hours from 09:15 hours to 15:30 hours, trading in gold Exchange Traded Funds and Sovereign Gold Bond will start again at 16:30 hours on October 17 and continue till 19:00 hours. It is considered auspicious to buy ornaments on occasions like Dhanteras, Diwali and Akshay Tritiya in India.
A gold exchange-traded fund (ETF) is an investment fund traded on bourses, much like stocks, and trades close to the net-asset- value of the commodity over the course of the trading day.