Message No : 15Sr.No : 497/725
Question By : yaqoob khatri

assalamalaikum, there is a list of shariah compliant scrips recommended by PARSOLI CORPORATION AND IDAFA INVESTMENTS for BSE AND NSE. my question to you
is day trading or intra day trading permissible in islam,only shariah compliant scrips. if yes why and if no why.

 

Reply By : Muhammad Asad Qasmi
Designation : Mufti, ODI, MMERC, Mumbai 

In the name of Allah the most Gracious the most Mercuful

The answer to your question is as follows:

Day trading has little to do with actual investing. Usually day traders watch the market and buy and sell on short-term price fluctuation (normally within one day). For this reason, a number of Islamic scholars have termed this as closer to gambling and thus it is prohibited. In addition to the religious reasons, there are also practical ones, because of the very high risk day trading involves. (And Allah knows best)

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