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Q For whom is this facility available?AThis facility is available only for online trading customers.
Q What is an AMO?AAMO stands for After Market Order. It is a facility that Kotaksecurities.com extends to its customers whereby they can place orders even after the trading hours of a particular day.
Q What is the advantage of an AMO?AAn AMO has the following advantages:
a) It allows the customer to place an order even after the regular trading hours (9.56 a.m. to 3.30 p.m.) during which time he /she might have been busy.
b) Based on the fluctuations in the Market on a particular day and taking into account factors such as the closing price of a particular scrip, recommendations on scrips given by Kotak Securities.com, the customer might want to place an order using AMO which would be executed when the market opens the next day.
Q How can I place an AMO?A
Now customers can place After Market Orders after the trading hours of a day. The process is simple and AMO's can be placed in twoways:
After Market Orders can be placed by the customer himself by logging into his Kotak trading account and choosing AMO.This facility is available in the time slots mentioned below:
Anytime between 3.30 p.m. to 1.00 a.m.
Anytime between 4.30 a.m. to 9.00 a.m.
An AMO can be placed with a price band of +/-5% of the closing price at the end of the day. Any AMO for scrip that is beyond this price band would not be placed .
All AMO orders will be placed in the market in the order of the price bands i.e all market orders will be placed first and then all orders on the basis of price band would be placed in ascending order.
Any AMO order placed can get cancelled before it getting placed at the exchange, in the absence of sufficient margins at the beginning of the day margin calculation process. Hence clients are requested to check the orders status during the market hours in the order report to find the status of the AMO order placed.
It is advisable to place limit orders i.e at a specific price that is more or less closer to the previous day's closing price instead of market orders i.e orders where price is quoted at 0, as there is a possibility of getting a freak rate because market orders are executed at the best possible counter rate.
eg. Reliance Industries closing price on 10/11/2005 is Rs.785.72
In case an AMO market order (i.e rate is 0) is placed for buy 100 shs of reliance and if this is the first buy trade to hit the market on 11/11/2005 and on the other end if the first sell trade to hit the market is Rs 825/- then the buy order would get executed at Rs. 825/- which would be a very high buy.
NOTE: The time period between 1.00 a.m. to 4.30 a.m. will be utilized for site maintenance and any AMO placed during this time will not be executed and a message stating the same will appear.
After Market Orders can also be placed through CALL & TRADE FACILITY also and our customer care executives will place the order on your behalf. The customer can place an order on phone by calling at 1800 209 9191 (toll free from landline and mobile) 3030 5757 (To dial from mobile phone prefix your city STD code.) 1800 222 299 in the time slots mentioned below:
Anytime between 3.30 p.m. to 5.00 p.m. & 5.30 p.m. to 6.00 pm in the evening and anytime between 9.00 a.m. to 9.55 a.m. in the morning.
Q Can I fix any price on scrip that I want to place an AMO on?A
For particular scrip, An AMO can be placed with a price band of +/-5% of the closing price at the end of the day. Any AMO for scrip that is beyond this price band would not be executed.
If the closing price of a scrip X on Monday is 100 Rs., the customer can place an AMO within the price band of Rs. 95 to Rs.105.
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