After Market Order (AMO)
As a customer, you can place AMO in Equity (NSE and BSE) and Derivatives (NSE) as per below timing:
· Online: From 5:30 P.M. IST onwards up-to 9:14 A.M IST next trading day
· Call & Trade: Daily from 8:30 A.M. IST onwards up to 9:14 A.M. IST
· All accumulated orders will be sent to exchange on market open
*Due to scheduled system maintenance process, AMO orders will not be accepted between 12:00 AM (midnight) to 7:00 AM.
You can place Limit order or Market order under AMO. However it is advisable to place AMO as Limit order. Placing AMO order as market order might result in your order getting executed at unfavorable price.
Example: on 5th December Infosys closes at Rs. 3400/-. Suppose a customer placed an AMO market order to buy 50 shares of Infosys. On 6th December the AMO is pushed to the exchange & if that particular order happens to be the first buy trade to hit the market & on the other end first sell trade to hit the market is priced at Rs. 3600/- then the buy order would get executed at Rs. 3600/- which would result in a high buy.
However you have to be very careful while placing the limit order as well. There are chances of error such as Infosys closing rate is Rs. 3400/- where as you might place a buy order erroneously at Rs. 4400/- and if in opening market such order happens to be first order then shares could be purchased @ Rs. 4400/-.
You should ensure that price which you have entered is not too high or not too low then the closing price. Hence it is advisable to enter limit orders in the range of +5% or -5% of closing market price.
You can also place a F&O order under AMO.
AMO provides the convenience to place orders without having to wait for the market to open.
AMO order is subject to rejection / cancellation, In case sufficient margin is not available in the ledger after the beginning of the day limit calculation process is run. To check the status of your AMO, we request you to refer to order book during market hours.