What are the difference between a Post Market Order and an AMO other than the timings at which these can be placed. Please clarify.
Post-market orders are for the current trading day.
The post-market session is between 3.40pm and 4pm where only CNC orders can be placed at Market price. All these CNC orders will be traded at LTP.
Purpose of this session: Those who have Holdings can place a Sell Market order to sell out the Holdings at LTP. New Buy orders can also be placed to buy stocks for delivery at LTP.
After market orders are for the next trading day.
For equity, AMO can be placed from 4pm today to 8.59am the next day. And the orders will be sent to the exchange during the pre-market trading session. Also note that you cannot place SL orders in AMO as SL isn’t allowed in the pre-market session. All equity SL orders have to placed post 9.15am only.
For F&O, AMO can be placed from 4pm today to 9.10am the next day. Post 9.10am, AMO F&O ordesr will not be accepted as these 5 minutes are used for pre-validation of these orders so they can be fired instantly when the market opens.
@Srinivas for AMO orders, can it be placed as either LIMIT or MARKET types?
Yes, the accepted order types for:
Equity AMO orders = Limit and Market orders only.
F&O AMO orders = Limit, Market and SL orders.