What’s pre-market trading?
Pre-market trading refers to all trades that occur before trading hours. It may seem odd that traders can buy and sell securities before all markets are open to trading. It has an important operational benefit and improves open-price discovery.
What are the benefits of pre-market trading
- – Open price discovery
Even if the market is closed for trading, investors can still benefit from financial news. Post-market hours are when many companies publish financial results and other company news. These developments can be reflected in opening prices by pre-market trading.
- – Based on the equilibrium price, the opening price
The argument in favor of pre-market trading by the National Stock Exchange in 2010 was that it would allow the opening price for a stock to be determined by the demand and supply, rather than the rate at the settlement of the first trade.
- – Minimises volatility
Pre-market trading lowers volatility in securities’ opening prices.
- News Impact
Pre-market trading reflects the effect of any news that could affect stock prices on the opening price.
Is there a risk to pre-market trading
- – Low liquidity
Pre-market trading volumes might be lower than usual. In this case, order matching may prove difficult for certain trades.
- – Wider buy-ask spread
A lower trading volume could also indicate that the spread between buy and ask prices might be greater than during regular trading hours.
- – Price uncertainties remain
The opening price is not always indicative. The premarketing price adjustment could still differ when the market opens for trading, and more investors enter the trading rink.
What is the pre-market session?
Pre-market sessions on the National Stock Exchange run from 9 to 9.15 am. The first eight minutes of the 15-minute session are dedicated to order entry, modification, cancellation, and collection. The following seven minutes are dedicated to matching orders, verifying trades and a smooth transition into regular trading hours.
What types of trades are allowed in pre-market Trading?
Indian stock exchanges permit limit and market orders during pre-market trading. Limit orders allow you to buy or sell a stock at a certain price or higher. Market orders allow you to buy or sell stock right away at the current price. Transactions that are only valid for the pre-market session are not permitted by traders as this may encourage speculation.
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