InvestorQ : Can I place an order late in the night when I am back from office?
Bhavik Nehru made post

Can I place an order late in the night when I am back from office?

Answer
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Moii Chavate answered.
2 years ago


Unfortunately, equity markets currently function only up to 3.30 in the afternoon and you can only place orders before that. The answer is that no, you cannot trade when the markets are shut but you can place orders. Such orders are called After-Market Orders. AMO is for those customers who are busy during market hours but wish to participate. When you place an AMO, you have to keep in mind the closing price of the stock. You can choose a price which is 5% higher or lower than the closing price. That said, your order will be processed as soon as the market opens the next day at the opening price if it falls within this 5% band. If you are clear about what stock to buy then you can place the order in the night itself. AMOs come handy when you need time to plan your orders after conducting research. During market hours, you need to actively track the price as it is constantly fluctuating. This is not the case for AMOs. Execution will happen on the next trading day.