After-Market Order (AMO)
What is an After-Market Order?
An After-Market Order (AMO) is a type of order used to buy or sell securities outside of regular trading hours. The execution of AMO orders takes place at the market open the following day.
However, it is essential to note that the price of a given security during trade execution at market reopen may differ from the last traded price. Market conditions often change overnight, which causes the price to vary from market close to the successive open.
Why AMO Order?
AMOs make a trader's market experience easier through the following benefits:
- Allowing traders to place orders at their convenience, without waiting for the markets to open.
- Acting on signals before the markets open enables users to stay ahead of market movements.
- Place orders effortlessly on weekends, reducing the hassle of trading during the busy workweek.
What are Market Trading Hours?
Market trading hours refer to the time during which the execution of trades takes place. The exact time of market open and close, along with the types of securities traded, varies from one stock exchange to another.
In India, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) operate from 9:15 AM to 3:30 PM. There is no time assigned for lunch or tea breaks. The markets are open daily, barring Saturdays, Sundays and national holidays.
The trading period mentioned for NSE & BSE will likely change in the upcoming days as per new policies.
How to Place an AMO?
If you act on a signal in the Investmint app outside market hours, the order gets placed with your broker in AMO mode. The trade will then get executed through your broker at market reopen. AMO feature applies to both entry and exit signals.
You can also track AMO orders on your portfolio page in the app. In case you change your mind and want to cancel the AMO, you can cancel the AMO anytime before the markets reopen through your broker.
Are All Models and Brokers Supported?
All models except the intraday ones support the AMO feature. The AMO feature is not applicable for the following models Back Up, Nifty Rider, Nightcrawler and Quick Short.
Many brokers support the AMO feature at Investmint App: 5Paisa, Axis Securities, Dhan, Groww, HDFC Securities, ICICIdirect, IIFL, Kotak Securities, Upstox and Zerodha.