A COMPARATIVE STUDY ON ONLINE TRADING OF SHARE PRICES OF BANKING

SECTOR

AT
SHAREKHAN LTD
HYDERABAD

B.SRIDEVI
018-07-137

Project submitted in partial fulfillment for the award of the Degree of

MASTER OF BUSINESS ADMINISTRATION
by
Osmania University, Hyderabad -500007

DECLARATION

I hereby declare that this Project Report titled A Comparative study on Online
Trading of Share Prices of Banking sector submitted by me to the Department of
Business Management, O.U., Hyderabad, is a bonafied work undertaken by me and
it is not submitted to any other University or Institution for the award of any degree
diploma / certificate or published any time before.

Name and Address of the Student

B.Sridevi
F.no:401,Dr.K.L.RaoResidency,
VidyaNagar,
Hyderabad.

Signature of the Student

ABSTRACT

Buying and Selling of securities (shares) through Internet . The four banks ICICI,
AXIS BANK ,SBI & ANDHRA BANK performance is analyzed for a period of 2
years. The share price movement of the banks is compared with the other. The
share price movement of the banks is analyzed and the factors effecting the
movement of share prices is seen. The trend of share prices in Government and
private banks is analyzed. Online trading will help in reducing transaction costs
particularly for overseas and remote located investors. Provide analytical data for
use of stock exchange in analysis and reporting. Provide public information on
scrip prices, indices for all users of the system. Facility of transaction business
from the terminal of the investors and will help him making rational judgment or
decisions. The investor is provided with best offer. Gives suggestions to investors
to choose the best scrip which gives maximum profits either short term or long
term. And helps investors to avoid loss in their decision making. Right decision at
right time helps the investors to get maximum benefits and reduce loss. Helps the
investors to decide when to invest and when not to invest in the scrips and time
period for each investment .

ACKNOWLEDGEMENT

With the deep sense of gratitude, I wish to acknowledge the support and help
extended by all the people in successful completion of this project work.
I express my sincere gratitude to Mr.S. Syam Sundar, Assistant manager of
Sharekahan Ltd, for allowing me to take up this project and enlighted me in doing
this project.
I express my gratitude to our Principal for his consistent support, Head of the
Department Mr.C.S. Patnaik for his encouragement.
I would like to express my sincere thanks to my internal guide Mr.G.N.
Satish Kumar and project coordinator Mrs. Rathnavali for their immense support
during my project report.
I would like to express my sincere thanks to Mrs. Sridevi, Financial faculty
for her immense support during my project report.
Last but not the least; I would like to thank all the faculty members who
have been a strong source of inspiration throughout the project directly or
indirectly.

TABLE OF CONTENTS
List of Tables6
List of figures ..7

1. INTRODUCTION...9
1.1. Need for the study..........................................................29
1.2. Objectives of the study..29
1.3. Limitations of the study.................................................30
1.4. Design of the study31
2. LITERATURE REVIEW....39
3. COMPANY PROFILE.46
4. DATA PRESENTATION AND ANALYSIS..49
5. FINDINGS & SUGGESTIONS...........................................80
5.1. Findings...............................................................80
5.2. Suggestions81
5.3. Conclusion ....................................................................82
6. BIBLIOGRAPHY.....84

CHAPTER-1

INTRODUCTION

ONLINE TRADING OF SHARES

Stock exchange is an organized market place where securities are traded. These
securities are issued by the government, semi-government bodies, public sector
undertakings and companies for borrowing funds and raising resources. Securities
are defined as any monetary claims (promissory notes or I.O.U) and also include
shares, debentures, bonds and etc., if these securities are marketable as in the case of

the government stock, they are transferable by endorsement and alike movable
property. They are tradable on the stock exchange. So are the case shares of
companies.
Under the Securities Contract Regulation Act of 1956, securities trading is regulated
by the Central Government and such trading can take place only in stock exchanges
recognized by the government under this Act. As referred to earlier there are at
present 23 such recognized stock exchanges in India. Of these, major stock
exchanges, like Bombay Stock Exchange, National Stock Exchange, Inter-Connected
Stock Exchange, Calcutta, Delhi, Chennai, Hyderabad and Bangalore etc. are
permanently recognized while a few are temporarily recognized. The above act has
also laid down that trading in approved contract should be done through registered
members of the exchange. As per the rules made under the above act, trading in
securities permitted to be traded would be in the normal trading hours (10 A.M to
3.30 P.M) on working days in the trading ring, as specified for trading purpose.
Contracts approved to be traded are the following:
1

Spot delivery deals are for deliveries of shares on the same day or the next day as the
payment is made.

Hand deliveries deals for delivering shares within a period of 7 to 14 days from the
date of contract.

Delivery through clearing for delivering shares with in a period of two months from

the date of the contract, which is now reduce to 15 days.(Reduced to 2 days in demat
trading)
4

Special Delivery deals for delivering of shares for specified longer periods as may be
approved by the governing board of the stock exchange.
Except in those deals meant for delivery on spot basis, all the rest are to be put
through by the registered brokers of a stock exchange. The securities contracts
(Regulation) rules of 1957 laid down the condition for such trading, the trading
hours, rules of trading, settlement of disputes, etc. as between the members and of
the members with reference to their clients.

SECURITIES AND EXCHANGE BOARD OF INDIA(SEBI)

The Securities and Exchange Board of India even though established in the year
1988 and got statutory power on 30th January 1992. Under the SEBI Act, a wide
variety of powers are vested in the hands of SEBI. SEBI has the powers to regulate
the business of Stock Exchanges, other security and mutual funds. Registration and
regulation of market intermediaries are also carried out by SEBI. It has

responsibility to prohibit the fraudulent unfair trade practices and insider dealings.
Takeovers are also monitored by the SEBI has the multi pronged duty to promote
the healthy growth of the capital market and protect the investors.
The Governing Board of Stock Exchanges: The Governing Board of the Stock
Exchange consists of elected members of directors, government nominees and
public representatives. Rules, by laws and regulations of the Stock Exchange
substantial powers to the executive director for maintaining efficient and smooth
day-to day functioning of Stock Exchange. The Governing Board has the
responsibility to maintain and orderly and well-regulated market.

The Governing body of the Stock Exchange consists of 13 members of which

1

Six members of the Stock Exchange are elected by the members of the Stock
Exchange.

Central Government nominates not more than three members.

The board nominates three public representatives.

SEBI nominates persona not exceeding three and

The Stock Exchange appoints one Executive Director.

One third of the elected members retire at annual general meeting (AGM).
The retired member can offer himself for election if he is not elected for two
consecutive years. If a member serves in the governing body for two years
consecutively, he should refrain offering himself for another two years.
The members of the governing body elect the president and vice-president. It
needs to approval from the Central Government or the Board. The office tenure for
the president and vice-president is on year. They can offer themselves for re-election,
if they have not held for two consecutive years. In that case they can offer
themselves for re-election after a gap of one-year period

NATIONAL STOCK EXCHANGE (NSE)

The National Stock Exchange (NSE) of India became operational in the capital
market segment on third November 1994 in Mumbai. The genesis of the NSE lies in
the recommendations of the pherwani committee (1991). It had recommended for the
establishment of National Stock market System also. The committee pointed out
some major defects in the Indian stock market. The defects specified are
1. Lack of liquidity in most of the markets in terms of depth and breadth.
2. Lack of ability to develop markets for debt.
3. Lack of infrastructure facilities and outdated trading system.
4. Lack of transparency in the operations that affect investors confidence.
5. Outdated settlement system that are inadequate to cater to the growing volume,

leading to delays.
6. Lack of single market due to the inability of various stock exchanges to function

cohesively with legal structure and regulatory framework.

PRESENT TRADING MECHANISM

The National system provides single, nation wide Securities. It enables
investors in one part of the country to trade at the best quotes with an investors
located in any other part of the country through the members of the stock exchanges
and subsequently clears and settles the trade in an efficient and cost effective manner.
The primary objective of the stock market is to provide clear opportunity to
the investors throughout the country to trade any securities irrespective of the size of
the order or the broker through whom the order is routed. This provides the facility to
execute the buy out any extra cost to the investors.
There will be no trading floor in the exchanges. Instead, each trading member
will have a computer at his own office any where in India which will be connected to
the central computer system at the NSE through leased lines or VSATs (Very Small
Aperture Terminal), for an interim transition period of six months and subsequently
by satellite link.
VSATs are relatively smaller dishes similar to dish antenna for cable T.V and have
the benefit of not being very expensive.

A satellite network makes it possible to connect almost all the parts of the
nation quickly as it is easy to install, as against the ground lines Such as dial up
modems leased lines which are prone to disruptions, satellite links on other hands
ensure high speed, availability and quality of the connection. This code of trading is
known as On-line Trading.

TRADING PROCEDURE BEFORE ON-LINE

THE TRADING RING:
Trading on stock exchanges is officially done in the ring for a few hours from
11.00 A.M to 2.30P.M. Trading before or after official hour is called KERB
TRADING. In the trading ring space is provided for specified and non-specified
sections. The members of their authorized assistants have to wear a badge or carry
with them identify cards given by the exchange to enter the trading ring. They carry a
Sauda book or confirmation memos duly authorized by exchange. The stock
exchanges operations at floor level are highly technical in nature. Non-members are
not permitted to enter into stock market. Hence, various stages have to be completed
in executing a transaction at a stock exchange. The steps involved in the methods of
trading have been given below:
CHOICE OF BROKER:

The prospective investor who wants to buy shares or the investor who wants to
sell his shares cannot enter into hall of the exchange and transact business. They
have to act through only member brokers. They can also appoint their bankers for
this purpose. Since, bankers can become members of stock exchange as per the
present regulations. So, the first task in transacting business on stock exchanges is to
choose a broker of repute or banker. Such peoples can ensure prompt and quick
execution of a transaction at the possible price.

PLACEMENT OF ORDER:
The next step in planning of order for the purchase or sale of Securities
with the broker. The order is usually by telegram, telephone, letter, fax etc., or in
person. To avoid delay it is placed generally over the phone. The orders may take any
one of the forms such as at best order, limit order, immediate or cancel order,
discretionary order, limited discretionary order, open order and stop loss order.

ENTRY OF ORDER INTO THE BOOKS:

After receiving the order, the member enters them in his books and the
purchase and sale orders are distributed among his assistants to handle them
separately in non-specified and odd-lots.

EXECUTION OF ORDER:
Big brokers transact their business through their authorized clerk. Small
ones out their business personally. Orders are executed in the trading ring of the
SHAREKHAN .This works from 12:00 noon to 2:00 p.m discretionary order on all
working days from Monday to Friday and a special hour session on Saturday.
The floor of the stock exchange is divided into number of markets (pits)
according to the nature of security deal in. The authorized clerk/broker goes to the pit
and jobbers offer two way quotes for the scrips they deal in. they act as market
makers and provide liquidity to the market. The system has been designed to get the
bet lids and offers from the jobbers book as well as the best buy and sell orders from
the book. If the quotation is not acceptable to the brokers, he may make a counter
bid/offer

Ultimately the bargains may be closed at a price mutually acceptable to

both the parties. In case the quotation is not acceptable to him, the broker may go to
another dealer and make a bargain. All bargains on the stock exchanges are settled by
word of mouth and there is no written contract signed immediately by the parties
concerned. Once the transaction is finalized, the deals are recorded in a Chaupri
Rough notebook or transaction note or confirmation memos. Soudha block books or
confirmation memos are provided by the stock exchange. The details are recorded in
these books also. The prices at which different scrip are traded on a particular day
published on the next day in the newspapers. An authorized representative of the
stock exchange is also present in the hall to supervise the trading.

INTODUCTION TO ONLINE TRADING

Gone are the days of trading on the floor. Technology has changed the
landscape of the stock markets. The look of the stock exchanges has undergone
metamorphic changes in the recent years. Prior to online trading, regional stock
exchange was playing a very important role in capital markets, as they were local
investors. Regional SE, which was unable to interact with other SEs started
developing this own screen based trading and connecting to other scrips which were
not available with them. This also helped in accessing the quotes and other market
information from other stock exchange which proved vital in the functioning of the
system as a whole.

The trading network is depicted in given below NSE has main computer which
is connected through Very Small Aperture Terminal (VSAT) installed at its office.
The main computer runs on a fault tolerant STRATUS mainframe computer at the
Exchange. Brokers have terminals (identified as the PCs in the given picture)
installed at their premises which are connected through VSATs/ leased lines/modems.
An investor informs a broker to place an order on his behalf. The broker enters the
order through his PC, which runs under Windows NT and sends signal to the satellite
via VSAT/leased line/modem. The signal is directed to mainframe computer at NSE
via VSAT at NSEs office. A message relating to the order activity is broadcast to the
respective member. The order confirmation message is immediately displayed on the
PC of the broker. This order matches with the existing passive order(S) otherwise it
waits for the active orders to enter the system. On order matching, a message is
broadcast to the respective member.

OBJECTIVES OF ON-LINE TRADING:

1. Reduce and eliminate operational inefficiencies inherent in manual system.
2. Increased trading capacity in stock exchanges.
3. Improve market transparency, eliminate unmatched trades and delayed reporting.
4. Provides for online and offline monitoring, control and surveillance of the

markets.

5. Promote fairness and speedy matching.

6. Ensure smooth market operations using technology while retaining the flexibility

of conventional trading practices.

7. Setup various limits rules and controls centrally.
8. Provide brokers with their data on electronic media interface with the brokers

back office system.

9. Provide public information on scrip prices, indices for all users of the system.
10. Provide analytical data for use of stock exchange in analysis and reporting
11. To face stiff competition from other stock exchange.
12. Consolidate traders data and interface with clearing and settlement.

ADVANTAGES OF INTERNET TRADING

1

It will help in reducing transaction costs particularly for overseas and remote located
investors.

It will provide real time quotes and on-line trading facility at a much cheaper cost.

Facility of transaction business from the terminal of the investors and will help him
making rational judgment or decisions.

It will bring down the brokerages fees and increases the trading volumes.

Quick

response

acknowledgement.

in

transaction

i.e.

giving

the

order

verification

and

It allows transparent companies of services and easy price discovery.

It is easy enough to set up either as individual account for margins trading or settle
transactions by credit card.

It is easy for brokers to monitor and maintain online accounts and the possibility of
miss-trading is less.

Surveillance is easy as there is very less scope for speculation

10 The investor is provided with best offer

11 Trading procedure is easy and fully automated.

TRADING SESSIONS:
The trading timings on the floor of the exchange are from 10.00 a.m.to 3.30 p.m.
on all weekdays from Monday to Friday. This is the central trading session where
quotes & orders would continuously come to CTs from the BWSs. Based on the
parameters of the market operations department, orders would be executed. To
recollect, under the outcry mode of trading the timings were from 11.30 a.m. to
2.30 p.m.

BROKER WORK STATION (BWS):

Broker workstations are the interface points between the broker & his

customer/client. In other words, the brokers interact with these clients through the
BWS the Best Bid Offer, the least traded prices. Highest & lowest traded prices in
a particular period, traded volumes will be available continuously on screen. Other
information will also be available by giving a query to BWS. This may include the
test of top gainer/looser for a day, trader- wise or scrip-wise net position, clientwise net position of top n scripts by volume/value, market capitalization etc.,

UNIQUE FEATURES OF BWS:

The BWS has a unique feature which facilitate opening of multiple windows
&different panes on the BWS screen. BWS has multiple screens for order entry,
Quote entry, display of pending orders etc. When many windows are opened on the
screen at the same time they overlap & cause operational inconvenience the
screen space is to be displayed. BWS provides for multi pages i.e. one flip
between different pages(like switching television channel) & watch different set of
screen windows.
Thus the screen space is utilized at its optimum & at the same time maximum
possible information is displayed.

ORDERS:
Orders can be entered into the system either one at a time or in a batch

mode. The submitted order will be accepted at the CTs after validation. If found
invalid, for any reason the order is returned back to the BWS with appropriate error
message. If & when accepted at the CTs, it will be added to the pending order
book. The order will then be taken up for matching. If it is buy order, the system
tries to find a sell order, which fits the requirements of the buy order . when such
match is found, a trade gets executed. Each trade involves two brokers or
respective traders who sent the order. Both these traders are informed of the trade
getting executed at their respective BWS. At th BWS the trade is added to the local
trade book & the pending quality divided by the trade quantity in the local pending
order book.
Requirements for net trading:
For investors:
1. Installation of a computer with required specification
2. Installation of a modem
3. Telephone connection
4. Registration for on-line trading with broker
5. A bank account
6. Depository account
7. Compliance with SEBI guidelines for net trading

The following should be produced to get a demat account and online trading
account:
As identity proof & address proof any one of the following:
1. Voter ID card
2. Driving license
3. PAN card( in case of to trade more than 50000)
4. Ration card
5. Bank pass book
6. Telephone bill

Other requirements, which are necessary

1. First page of the bank pass book and last 6 months statement.
2. Bank managers signature along with banks seal, manager registration code on

photograph.
For stock brokers:
1. Permission from stock exchange for net trading
2. Net worth of Rs. 50 lac
3. Adequate back-up system
4. Secured and reliable software system
5. Adequate, experienced and trained staff

6. Communication of order (trade confirmation to investor by e-mail)

7. Use of authentication technologies
8. Issue of contract notes within 24 hours of the trade execution
9. Setting up a website.

The net is used as a medium of trading in internet trading. Orders are

communicated to the stock exchange through website. Internet trading started in
India on 1st April 2000 with 79 members seeking permission for online trading.
The SEBI committees on internet based securities trading services has allowed the
net to be used as an Order Routing System (ORS) through registered stock brokers
on behalf of their clients for execution of transaction. Under the Order Routing
System the client enters his requirements (security, quantity, price, and buy/sell) in
broker's site. They are checked electronically against the clients account and routed
electronically to the appropriate exchange for execution by the broker. The client
receives a confirmation on execution of the order. The customer's portfolio and
ledger accounts get updated to reflect the transaction. The user should have the
user id and password to enter into the electronic ring. He should also have demat
account and bank account. The system permits only a registered client to log in
using user id and password. Order can be placed using place order window of the
website.

Procedure for net trading

Step 1:
Those investors, who are interested in doing the trading over internet system
i.e. NEAT-IXS, should approach the brokers and get them self registered with the
Stock Broker.
Step 2:
After registration, the broker will provide to them a Login name, Password
and personal identification number (PIN).
Step 3:
Actual placement of an order. An order can then be placed by using the place
order window as under:
1.

First by entering the symbol and series of stock and other parameters like
quantity and price of the scrip on the place order window.

2.

Second, fill in the symbol, series and the default quantity.

Step 4:
It is the process of review. Thus, the investor has to review the order placed
by clicking the review option. He may also re-set to clear the values.
Step 5:
After the review has been satisfactory, the order has to be sent by clicking
on the send option.
Step 6:

The investor will receive an "Order Confirmation" message along with the order
number and the value of the order.
Step 7:
In case the order is rejected by the Broker or the Stock Exchange for certain
reasons such as invalid price limit, an appropriate message will appear at the
bottom of the screen. At present, a time lag of about 10 seconds is there in
executing the trade.
Step 8:
It is regarding charging payment, for which there are different mode. Some brokers
will take some advance payment from the investor and will fix their trading limits.
When the trade is executed, the broker will ask the investor for transfer of funds to
his account. Internet trading provides total transparency between a broker and an
investor in the secondary market. In the open outcry system, only the broker knew
the actually transacted price. Screen based trading provides more transparency.
With online trading investors can see themselves the price at which the deal takes
place. The time gap has narrowed in every stage of operation. Confirmation and
execution of trade reaches the investor within the least possible time, mostly within
30 seconds. Instant feedback is available about the execution.
Some of the websites also offer;
1. News and research report

2. BSE and NSE movements

3. Stock analysis
4. IPO and mutual fund centers

Step by step procedure in online trading:

Following steps explain the step by step approach to on-line trading:
1. Log on to the stock broker's website
2. Register as client/investor
3. Fill the application form and client broker agreement form on the .requisite

value stamp paper

4. Obtain user ID and pass word
5. Log on to the broker's site using secure user ID and password
6. Market watch page will show real time on-line market data
7. Trade shares directly by entering the symbol or number of the security
8. Brokers server will check your limit in the on-line account and demat

.account for the number of shares and execute the trade

9. Order is executed instantly (10-30 seconds) and confirmation can be

obtained.
10. Confirmation is e-mailed to investor by broker
11. Contract note is printed and mailed in 24 hours

12. Settlement will take place automatically on the settlement day

13. Demat account and the bank account will get debited and credited by

electronic means.

ONLINE TRADING HAS LED TO ADDITIONAL FEATURES SUCH AS:

Market Orders:
A market order is an order to buy or sell which is to be filled immediately at
the current exchange rate quotation. If unable to fill the order at the specified rate,
you will receive a new price representing the current market rate. The dealing desk
responds to market orders in under 10 seconds during normal market conditions.
During heavier market conditions, market orders are processed in less than thirty
seconds. Clients do not wait more than thirty seconds in order to have their trade
confirmed or to receive a new price on which to deal.

Entry Orders:
An entry order is an order that is executed when a particular price level is
reached and/or broken. The execution of these orders is under the supervision of
the dealing desk and remains in effect until the client cancels the order. Entry

orders fall into two broad categories and are executed according to the category.
Stop Entry Orders:
Stop entry orders are executed when the exchange rate breaks through a
specific level. The client placing a stop entry order believes that when the market's
momentum breaks through a specified level, the rate will continue in that direction.
Limit Entry Orders:
Limit entry orders are executed when the exchange rate touches (not breaks)
a specific level. The client placing a limit entry order believes that after touching a
specific level, the rate will bounce in the opposite direction of its previous
momentum.
Stop-Loss Order:
A stop-loss is an entry order linked to a specific position for the purpose of
stopping the position from accruing additional losses. A stop-loss order placed on a
Buy position is a stop entry order to Sell linked to that position. A stop-loss order
remains in effect until the position is liquidated or the client cancels the stop-loss
order. The execution of a stop-loss order may involve a limited degree of slippage,
usually two pips or less depending on market conditions.
Limit Order:
A limit order is a limit entry order linked to a specific position for the

purpose of locking in the gains on an existing position. A stop-loss order placed on

a Buy position is a stop entry order to Sell that position. A stop-loss order remains
in effect until the position is liquidated or the client cancels the stop-loss order.
1. Limit / stop orders: orders that can be go unfilled, but there is an extra Charge

for this leeway facility since one need to hold a price.

2. Market orders: orders can be filled at unexpected prices, but this type is much

more risky, since you have to buy stock at the given price.
3. Cash account: where funds have to be available prior to placing the order.
4.

Margin account: where orders can be placed against stocks, to increase

Purchasing power.

INVESTORS REASONS TO TRADE ONLINE:

1. They have control over their accounts, can make their own decisions and dont

have to give reasons for their actions. They are independent.

2. They have a reason to participate in the market and learn about it.
3. It is interesting, cheap, easy, fast, and convenient.
4. A lot of information is online so they can keep up-to-date with what is

happening in the trading world.

5. It will give investors a greater choice and better realization.
6. The immediate impact will be competition and benefits will accrue to the

investors.
7. It will lead to brokerage commissions going down and brokers striving to

increase business afloat.

8. Investors will now go to place, which have better trading conditions and also

members to offer them better facilities.

9. They have access to numerous tools to invest, and can create their owportfolio.

Objectives of the study

1. To analyze the performance of ICICI, AXIS BANK, SBI & ANDHRA BANK.
2. To study the movement of share prices of the four banks.
3. To compare the share price movement of ICICI with SBI.
4. The trend of shares of Government and private banks is analyzed.

Need for the study

1. To study the variation in share prices of ICICI , AXIS BANK,SBI,ANDHRA

BANK .
2. To find the reasons for their variations.

4. To find the factors that are effecting movement of the share prices of the above
banks.
5. To compare the Share price movement of one bank with the other.

Scope and Limitations of the study

1. The share prices of ICICI, SBI, AXIS BANK & ANDHRA BANK are studied

for a period of 2yrs .

2. Comparison of share prices of ICICI with SBI is done so as to analyze the trend

of share prices in Government and private banks.

3. The study is confined to a period of two years.
4. The major limitation of the project is Time Factor

Research Methodology
1. The data collection methods include both primary and secondary collection

methods.
2. Primary method:
3. This method includes the data collected from the personal interaction with

authorized members of Share khan Securities limited.

4. Secondary method:
5. The brochures and material provided by Share khan Securities limited.
6. The data collected from the magazines of the NSE, economic times, etc.
7. Various books relating to the investments, capital market and other related

topics.
8. Analytical tools: Variance, Mean, Correlation, etc.

Chapter 2:
LITERATURE REVIEW

Risk Isolation Using Market Neutral Strategy

Darren Clifford
THE JOURNAL OF TRADING
Spring 2006
Ultimately, trading is about risk versus reward. We would love to make 100%
returns, but how much are we willing to risk to do so? One advantage that
institutions and large portfolio traders historically held was their ability to trade in
more dynamic ways. With the proliferation of the internet and online trading, smaller
investors are progressively able to execute such strategies to their own benefit so that
they can manage risk versus reward in a similar fashion to institutions. One of the
strategies performed exclusively by institutions is the ability to trade spread or pair
positions. This technique has been around since the ability to short sale stocks and
involves going long one financial instrument and short a correlated instrument to
minimize or isolate risk. This strategy has been done with every financial instrument
before, but we are primarily going to focus on pairing two equities together. This
paper presents how a common investor can isolate risk and produce more consistent
returns using pair trading.

INVESTORS PREFERENCES AND -PERCEIVED PROBLEMS IN

ELECTRONIC TRADE OF SECURITIES: A SURVEY ANALYSIS
Rajeshwar Sirpal; Arun J. Prakash; Parikshat SirpalTHE JOURNAL OF
WEALTH MANAGEMENT Winter 2002
Despite the fact that the use of e-brokers has grown exponentially, the authors
note that a number of investors still prefer using the services of traditional fullservice and discount brokers. The article focuses on the preferences of and problems
faced by investors in their selection and usage of brokers, using a survey conducted
on a sample of Florida residents. Analyzing the results of the survey, the authors find
no significant relationship between usage of either discount or full-service
brokerages and investments in either stocks, bonds, or mutual funds. However,
significant relationships are found between usage of Internet brokerages and
investments in bonds as well as mutual funds. In addition, no relationship is found
between access to the Internet and investments in various securities. Furthermore, no
relationship is detected between various levels of income of the investors and
investments in stocks. However, as income levels of investors decrease below certain
levels, respondents are found to invest significantly less in bonds and mutual funds
than the hypothesis of independence predicts. The authors conclude that full-service
and discount brokers still occupy market niches, though on-line brokerages are in a
growth stage.

Are Trading Costs Invisible in Trading Decisions?

Ryan Garvey; Fei Wu
THE JOURNAL OF TRADING
Fall 2008
This article examines whether professional traders recognize transaction
costs when making trade decisions. In both single and multi-period settings,
professional traders are far more reluctant to realize a gross loss than an actual loss
(net of transaction costs). The tendency to ignore transaction costs may lead to
higher levels of overconfidence (or trading activity) because traders are more
susceptible to misinterpreting negative performance outcomes than positive ones.
Traders who experience higher and more frequent gross trading profits trade more
actively, but they also end up losing the most money on a net basis.

CHAPTER-3

COMPANY PROFILE

SHARE KHAN, Indias leading stockbrokers the real arm of SSKI, an

Organization with over eight decades of stock market experience. With more than
175 share shops in over 80 cities, and a presence on internet through
www.sharekhan.com, Indias premier online trading destination, we reach out to
customers like no one else.
Share khan offers you trade execution facilities on the BSE and the NSE, for
cash as well as derivates, depositary services and most importantly, investment
advice tempered by 80 years of research and broking experience. To ensure that your
trading experience with share khan is fast, secure and hassle free. We offer a suite
of products and services, providing you with a multi-channel access to the stock
markets.
SSKI group also comprises institutional broking and corporate finance. While
the institutional broking division caters to the largest domestic and foreign
institutional investors. The corporate finance division focuses on niche areas such as
infrastructure, Telecom and media. SSKI holds a sizeable portion of the market in
each of these segments.
As the forerunner of investment research in the India market, we provide the
best research coverage amongst broking houses in India. Our research team is rated
as one of the best in the country. Voted four times as the top domestic brokerage
house by Asia money survey. SSKI is consistently ranked almagest the top domestic
brokerage houses in India.

Dematerialization in short called as Demat is the process by which an

investor can get physical certificates converted into electronic form, Rs 20 per scrip
per day ( the brokerage per scrip will be charged for the trades resulting in delivery
on actual or Rs. 20 whichever is more).
( For e.g. If a customer buys 100 shares of sail, total delivery value =2200.
Brokerage @ 0.5% = Rs 11, but the min chargeable amt per scrip per day = Rs 20),
so additional Rs 9 will be charged as min delivery handling charges)

COMPANY BACKGROUND:

1. Share khan is the retail broking arm of SSKI, securities pvt ltd. SSKI owns 56%
in share khan, balance ownership is HSBC, fiRst caryle, and Intel pacific.
2. Into broking since 80 years.
3. Focused on providing equity solutions to every segment.
4. Largest ground network of 210 branded share shops in 90 cities.

CHAPTER-4

DATA PRESENTATION, ANALYSIS

AND
INTERPRETATION

Shares prices of the four banks for a period of two years:

May-06
SBI WEEKLY REPORT (MAY-2006)
Date
1/5/2006

Open
891.35

High

Low
971

Close
891.35

Volume
953.85

1417300

Adj Close
926

8/5/2006
15/5/2006
22/5/2006
29/5/2006

967
960
870
880.15

1007.75
1003.4
915.1
887.5

911.6
856
798
807.2

958.65
869.1
874.45
838.75

1649400
2371400
1558400
946300
1588560

930.66
843.73
848.92
814.26
872.714

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
1/5/2006
566.15
664.85
566.15
638.2 1425100
620.48
8/5/2006
648.95
675
629.5
636.05 1166500
618.39
15/5/2006
640
640
550
555.45
761500
540.03
22/5/2006
585
612.85
492
563.75 1368500
548.1
29/5/2006
567
574.9
530
551.95
442400
536.63
1032800
572.726

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
1/5/2006
82.3
87.4
81.2
84.95 1263500
83.17
8/5/2006
84.95
89.5
75
84.65 1399600
82.87
15/5/2006
85
85.1
70
71.85
664400
70.34
22/5/2006
74.9
78
57.65
74.9 1223300
73.33
29/5/2006
75.65
76.35
69.5
72.65
616000
71.12
1033360
76.166
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
1/5/2006
344.4
375.95
344.4
361.2
65200
354.57
8/5/2006
370
380
350
361
103600
354.38
15/5/2006
366
366
319
325.05
54400
322.35
22/5/2006
321
334.9
288
301.5
145300
298.99
29/5/2006
310
313
280
308.15
124100
305.59
98520
327.176

Jun-06
SBI WEEKLY REPORT (JUNE-2006)
Date
Open
High
Low
5/6/2006
840
866.55
12/6/2006
775.45
786
19/6/2006
765
778.7
26/6/2006
754.1
767

Date
Open
5/6/2006
12/6/2006
19/6/2006
26/6/2006

Close
745
715
723.05
705

771.6
741.25
762.65
727.75

Volume
Adj Close
1708800
749.07
2024000
719.61
1746400
754.64
1524800
720.1
1751000
735.855

ICICI BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
553
557
479
500.35
916200
486.46
502
505
435
451.2
869000
438.68
498
521.5
481.1
508.05
571600
493.95
507
513
465.7
487.9 2104500
474.36
1115325 473.3625

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
5/6/2006
71.1
72.75
56.25
65.75
804500
64.37
12/6/2006
65.75
66
56.8
57.95
643700
56.73
19/6/2006
60.9
65.5
57.85
64.8
767500
63.44
26/6/2006
64
64.5
58.9
62.5
618700
61.19
708600
61.4325

AXIS BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
5/6/2006
310
313.9
246.55
259.05
197300
256.9
12/6/2006
264
265
221.5
240.1
61900
238.1
19/6/2006
251
291
248
276.5
98100
274.2
26/6/2006
285.1
290
256.1
266.75
840800
264.53
299525 258.4325

Jul-08
SBI WEEKLY REPORT (JULY-2006)
Date
Open
High
Low
3/7/2006
735
905
10/7/2006
719
743.9
17/7/2006
730
736
24/7/2006
714.85
799.95
31/7/2006
800
829.7

Close
Volume
Adj Close
721.75 1324300
714.17
737.4 1147500
729.65
715.8 1050100
708.28
796.4 2936700
788.03
807.8 1867200
799.31
1665160
747.888
ICICI BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/7/2006
499
518.35
477
498.95 1750700
493.49
10/7/2006
496
498
464.95
485.9
477100
480.58
17/7/2006
500
500
465.1
484.75
391600
479.45
24/7/2006
486
552
481
542.55 2038500
536.61
31/7/2006
544.9
568
541.05
547
807200
541.02
1093020
506.23
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/7/2006
62.8
63.7
55
59.7
412800
58.45
10/7/2006
59.8
60.75
58.5
59.55
249800
58.3
17/7/2006
60.4
61
56.05
60.8
389000
59.52
24/7/2006
59.55
71.7
59.55
70.5 1268800
69.02
31/7/2006
70.5
77.35
70.5
76.55 1806000
74.94
825280
64.046
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/7/2006
272
289.5
267
274
44000
271.72
10/7/2006
277
285.5
268
273.2
163300
270.93
17/7/2006
274
277
249
260.35
143600
258.19
24/7/2006
255
317.85
250
297.5
153200
295.03
31/7/2006
305
327.5
295
317.25
153000
314.61
131420
282.096
718.5
709.3
684.5
705.5
794.4

Aug-08
SBI WEEKLY REPORT (AUGUST-2006)
Date
Open
High
Low
7/8/2006
808
875
14/8/2006
851.3
895
21/8/2006
885
924.4
28/8/2006
900
943.7

Close
796
851.3
855
838.5

859.5
879.1
905.1
931.25

Volume
Adj Close
1573000
850.47
1088100
869.86
1277000
895.59
1179500
921.46
1279400
884.345

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
7/8/2006
552
605.6
535
584.5 2943400
578.1
14/8/2006
584.5
600
575
588.35
553500
581.91
21/8/2006
592
648
580
588.95
789100
582.51
28/8/2006
592
611.9
585.1
609.6 1319000
602.93
1401250 586.3625
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
7/8/2006
77
82.4
74.8
79.85 1209600
78.17
14/8/2006
79.85
87
79.85
81.35 1137900
79.64
21/8/2006
81.8
86.5
80
85.4
840400
83.61
28/8/2006
85.5
88.9
84
88.7
907700
86.84
1023900
82.065
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
7/8/2006
322
337.8
312
329.75
93000
327.01
14/8/2006
332
339
325
330.15
91200
327.4
21/8/2006
325.1
345.8
324
342.4
72300
339.55

28/8/2006

347

358.75

339

348.45

64400
80225

345.55
334.8775

Sep-06
SBI WEEKLY REPORT (SEP-2006)
Date
Open
High
Low
4/9/2006
935.7
989
11/9/2006
945
982
18/9/2006
983
995.95
25/9/2006
977.5
1044

Close
Volume
Adj Close
927.8
944.25
749600
934.33
911.7
979.3 1234900
969.01
965.25
975.75
831400
965.5
966.7
1028.65 1593400
1017.84
1102325
971.67

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
4/9/2006
618
625
601.1
606.4
576400
599.77
11/9/2006
607.3
655
585.1
646.6 1235500
639.53

18/9/2006
25/9/2006

645.1
576.65

Date
Open
4/9/2006
11/9/2006
18/9/2006
25/9/2006

669.75
795.15

634.5
576.65

654.9
699.6

667900
1326500
951575

647.73
691.95
644.745

ANDHRA BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
88.7
89.2
84
85.7
475800
83.9
85.7
91.8
81.3
89.3 1307300
87.43
89.3
92
86.2
89.4
777600
87.52
88.6
97.45
86.7
95.4 2366700
93.4
1231850
88.0625

AXIS BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
4/9/2006
350.75
355.7
336
339
45700
336.18
11/9/2006
343.9
356.8
327
347.95
248000
345.06
18/9/2006
350
360.5
342.15
352.85
103900
349.92
25/9/2006
353
396
345.5
379.2
172400
376.05
142500 351.8025

Oct-06

SBI WEEKLY REPORT (OCT-2006)

Date
Open
High
Low
Close
Volume
Adj Close
3/10/2006
1029
1045.8
1011.1
1033.15
876400
1022.29
9/10/2006
1029.7
1040
995.05
1021.45
686800
1010.72
16/10/2006
1027
1054
1014.5
1040.65
743600
1029.71
23/10/2006
1040
1096.9
1016.35
1094.2 1258600
1082.7
30/10/2006
1094
1256.3
1070
1124.05 1178800
1112.24
948840 1051.532
ICICI BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/10/2006
700
709.8
675.6
702.45
808500
694.76
9/10/2006
697.1
704.2
672.3
694.9
530500
687.3
16/10/2006
703.5
747
694.3
741.5 1126200
733.39
23/10/2006
740
767
719
758.55 1421600
750.25
30/10/2006
758
794.85
749.1
772.75 1164500
764.29
1010260
725.998

Date
Open
3/10/2006
9/10/2006
16/10/2006
23/10/2006
30/10/2006

ANDHRA BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
95.4
96
91.1
92.55
738900
90.61
91.9
96.35
90
94.6 1335400
92.61
95
96.2
89.55
93.45 1429300
91.49
92.5
93.75
89.75
92.1 1317500
90.17
92.1
94.35
90.3
92.65 1052800
90.71
1174780
91.118

AXIS BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
3/10/2006
379.2
402
378.05
394.4
103000
391.12
9/10/2006
382
411.95
382
410
139400
406.59
16/10/2006
414
432
408
419.45
98800
415.96
23/10/2006
419.75
426.5
403
418
49900
414.52
30/10/2006
415
448.8
411.05
440.65
62900
436.99
90800
413.036

Nov-06
SBI WEEKLY REPORT (NOV-2006)
Date
Open
High
Low
6/11/2006
1126.5
1148
13/11/2006
1135
1241
20/11/2006
1220
1263.2
27/11/2006
1260
1370

1092.2
1111
1189
1230

Close
Volume
Adj Close
1133.9 1147300
1121.98
1226.4 2026500
1213.51
1257.65 1082700
1244.43
1362.65 1159400
1348.33
1353975 1232.063

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
6/11/2006
778
838.45
758.35
830.95 1172000
821.86
13/11/2006
839.8
925
827
876.55 3250400
866.96
20/11/2006
861
889.9
835.1
872.85 1884600
863.3
27/11/2006
876.5
887.75
852.65
878.15 1335800
868.54
1910700
855.165

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
6/11/2006
92.5
96.15
88.3
92.25 1231900
90.31
13/11/2006
92.25
98.7
90.5
92.85 1773500
90.9
20/11/2006
94
94.4
89.8
91.65
690600
89.73
27/11/2006
93.9
93.9
88.55
91.2
522200
89.29
1054550
90.0575

AXIS BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
6/11/2006
440
450
419
445.1
80500
441.4
13/11/2006
448
496
446
480.25
183600
476.26
20/11/2006
468.4
512.9
468.4
496.85
73800
492.72
27/11/2006
500.1
508
468
491.8 1455200
487.71
448275 474.5225

Dec-06
SBI WEEKLY REPORT (DEC-2006)
Date
Open
High
Low
Close
Volume
Adj Close
4/12/2006
1362
1617.4
1330.15
1355.35
908100
1341.11
11/12/2006
1325
1325
1164
1264.45 1499800
1251.16
18/12/2006
1260
1281.7
1191
1215.05 1402400
1202.28
26/12/2006
1224.75
1350
1210
1245.6
768500
1232.51
1144700 1256.765
ICICI BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
4/12/2006
872
891.5
859
880.35
707200
870.72
11/12/2006
865
885
772.1
870.8 1401600
861.27
18/12/2006
879.9
890
835.1
857 1075200
847.62
26/12/2006
857.85
914
850
891.5 1199300
881.75
1095825
865.34
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
4/12/2006
91.2
92
89.5
90.15
498000
88.26
11/12/2006
88.6
89.9
73.5
86.25
888600
84.44
18/12/2006
86.45
87.5
82.5
86.15
388500
84.34
26/12/2006
86.05
90.05
85
86.75
414000
84.93
547275
85.4925
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
4/12/2006
496
506
462
465
463100
461.13
11/12/2006
465
465
410
457.35
75600
453.55
18/12/2006
460
490
446.25
461.25
118800
457.41

26/12/2006

461.25

477.9

453.25

469.05

100800
189575

465.15
459.31

Jan-07
SBI WEEKLY REPORT (JAN-2007)
Date
Open
High
Low
Close
Volume
Adj Close
2/1/2007
1250
1280
1233.1
1244.1
610300
1231.03
8/1/2007
1248.8
1248.8
1132
1225.45 1405100
1212.57
15/1/2007
1235
1282.25
1204.1
1220.3
916000
1207.48
22/1/2007
1218
1232
1149.05
1176.45 1130300
1164.09
29/1/2007
1190
1230
1132.8
1181.05 1687900
1168.64
1149920 1196.762

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
2/1/2007
892
919
886
910.1
972500
900.14
8/1/2007
917
979.8
872.2
972.3 1795200
961.66
15/1/2007
977.8
995
949.1
985.4 1049900
974.62
22/1/2007
994.4
1000
955.1
991.45 1062900
980.6
29/1/2007
991.45
991.45
931.2
944.9 1296900
934.56
1235480
950.316
ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
2/1/2007
86.75
89.9
8/1/2007
87.2
89.95
15/1/2007
89.9
92.8
22/1/2007
90.3
90.3
29/1/2007
86.1
92.9

Close
86.2
82.05
88.1
84.25
83.55

87.9
89.15
89.7
85.2
90.25

Volume
Adj Close
287900
86.05
268400
87.28
586100
87.82
417300
83.41
958000
88.36
503540
86.584

AXIS BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
2/1/2007
469.05
530
455.05
471.5
53800
467.58
8/1/2007
472
501.4
457.05
499.2
234200
495.05
15/1/2007
503
565.3
503
535.1
168100
530.65
22/1/2007
532
553.45
505.1
514.4
83200
510.12
29/1/2007
515.05
615
501.05
587.35
214500
582.47
150760
517.174

Feb-07
SBI WEEKLY REPORT (FEB-2007)
Date
Open
High
Low
Close
Volume
Adj Close
5/2/2007
1176
1218.9
1170.35
1199.65 1078600
1187.04
12/2/2007
1199.65
1203.8
1085.2
1122.6 1423500
1110.8
20/2/2007
1132.1
1144.8
1041
1058.2 1098200
1047.08
26/2/2007
1070
1149
971.5
1004.9 1288000
994.34
1222075 1084.815
ICICI BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/2/2007
959.65
1010
938.15
996.15 1340200
985.25
12/2/2007
990.1
990.1
891.25
949.6 1895300
939.21
20/2/2007
985
987.8
892.55
907 1390300
897.08

26/2/2007

913.8

923.45

801.5

842.9

2008400
1658550

833.68
913.805

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
5/2/2007
90.8
91.9
85.1
85.7
412400
83.9
12/2/2007
85.7
86.35
75
82.65
485400
80.92
20/2/2007
81.6
81.8
76
77.9
651200
76.26
26/2/2007
78
80.65
74
77.4
237600
75.78
446650
79.215
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/2/2007
590.05
601
546
573.55
257400
568.78
12/2/2007
573.5
573.55
477
545.75
136400
541.21
20/2/2007
552.9
563.7
484
491.15
132400
487.07
26/2/2007
502.9
505
425
470.5
144500
466.59
167675 515.9125

Mar-07
SBI WEEKLY REPORT (MAR-2007)

Date
Open
High
Low
5/3/2007
999
1024
12/3/2007
990
1001
19/3/2007
924.8
1042.85
26/3/2007
1030
1039.85

Close
Volume
Adj Close
944.35
982.65 1639800
972.32
898.1
913.6 1354500
904
907.1
1026.2 1371600
1015.42
956.15
994.45 1258000
984
1405975
968.935

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
5/3/2007
855.5
882.5
793.25
858.6 1681700
849.21
12/3/2007
865
881
801.1
810 1353900
801.14
19/3/2007
828
990
798.5
891.6 1716500
881.84
26/3/2007
899
907.2
803.65
853.35 1580600
844.01
1583175
844.05
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/3/2007
75.45
79.75
72.2
77.6
283000
75.97
12/3/2007
77.5
79.25
75.05
75.45
90000
73.87
19/3/2007
76.2
84.3
75.05
78.2
258300
76.56
26/3/2007
78.2
78.95
75
76.05
217700
74.45
212250
75.2125
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/3/2007
456.65
469
399
455.2
188700
451.41
12/3/2007
456.1
501.8
437.15
448.6
163700
444.87
19/3/2007
456.35
540
443
531.7
163800
527.28
26/3/2007
533
542
473.2
490.15
102200
486.07
154600 477.4075

Apr-07
SBI WEEKLY REPORT (APRIL-2007)
Date
Open
High
Low
2/4/2007
979.4
979.4
9/4/2007
952.5
1013.8
16/4/2007
1006
1084
23/4/2007
1075.5
1165.8
30/4/2007
1091
1161.6

915
952.5
997.05
1030
1051

Close
Volume
Adj Close
948.45 1066800
938.48
997.95
967900
987.46
1073.95 1471900
1062.66
1101.65 1712900
1090.07
1128.3 1054900
1116.44
1254880 1039.022

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
2/4/2007
820.6
843.9
791
838.65 1277200
829.47
9/4/2007
882.5
882.5
825
873.45
807200
863.89
16/4/2007
881
921
875.15
916.7
887000
906.67
23/4/2007
915
994.7
902.35
935.15 1566500
924.92
30/4/2007
890
898
842.1
855.85 2838800
846.49
1475340
874.288
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
2/4/2007
70
74
69.5
72.7
392500
71.17
9/4/2007
73
77.9
72.6
75.85
151700
74.26
16/4/2007
76.9
86.4
76
82.55
589200
80.82
23/4/2007
82.95
85.5
80
82.45
685300
80.72
30/4/2007
82.5
83.1
80.2
82.3
352000
80.57
434140
77.508
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
2/4/2007
454
478
432.65
451.3
135300
447.55
9/4/2007
451.3
506.1
451.3
469.05
227300
465.15
16/4/2007
476.5
480
460
465.05
255800
461.18
23/4/2007
472.5
477.5
454
455.55
264300
451.76
30/4/2007
455
488.8
438.6
480.4
615500
476.41
299640
460.41

May-07
SBI WEEKLY REPORT (MAY-2007)
Date
Open
High
Low
7/5/2007
1198
1198
14/5/2007
1180
1340
21/5/2007
1341
1364
28/5/2007
1314.85
1361.7

Close
1070
1180
1240
1300

1153
1327.45
1298.65
1353.65

Volume
Adj Close
1532200
1140.88
2197400
1313.5
1519600
1285
1358000
1339.43
1651800 1269.703

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
7/5/2007
874.45
874.45
822.15
848.45 1517800
839.17
14/5/2007
855.1
954.9
852
951.15 1774100
940.74
21/5/2007
955
964
881.25
912.7 1315900
902.71
28/5/2007
918.85
935.05
908.1
919.15
883200
909.09
1372750 897.9275
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
7/5/2007
82.3
89
79.25
86.8 1117400
84.98
14/5/2007
88.05
93.05
87.65
88.25 1034600
86.4
21/5/2007
88.9
91
85.1
86.65
410700
84.83
28/5/2007
86.5
92.7
85.5
87.2
808200
85.37
842725
85.395

Date
Open
7/5/2007
14/5/2007
21/5/2007
28/5/2007

AXIS BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
486
540.7
483.05
520.45
696800
516.12
524
549.75
521.3
536.65
200900
536.65
545
591
540
564.3
195200
564.3
571
594
550
579.55
162500
579.55
313850
549.155

Jun-07
SBI WEEKLY REPORT (JUN-2007)
Date
Open
4/6/2007
11/6/2007
18/6/2007
25/6/2007

High
1400
1356
1340
1460

Low
1454
1378.9
1478
1531.7

Close
Volume
Adj Close
1321.3
1356.6 2006800
1342.34
1280.2
1324.1 1499100
1324.1
1313
1455.2 1752700
1455.2
1434.05
1525.8 1964200
1525.8
1805700
1411.86

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
4/6/2007
930.45
950.7
888
903.45
914100
893.56
11/6/2007
920
936.35
896
908.7
984600
908.7
18/6/2007
926.1
966.75
915
954.55 1523800
954.55
25/6/2007
955
965
930
955.45 1003100
955.45
1106400
928.065

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
4/6/2007
87.25
88.35
82.6
83.15
220100
81.4
11/6/2007
83.95
88.5
81.5
86.4 1247400
84.59
18/6/2007
87
87.55
83.75
85.2
202100
85.2
25/6/2007
85.35
86.6
82.05
85.95
372300
85.95
510475
84.285

AXIS BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
4/6/2007
579.9
585.8
522.55
559.35
75800
559.35
11/6/2007
565
603
556
596.65
216600
596.65
18/6/2007
605
629
594.1
614.9
210000
614.9
25/6/2007
615
620
575
605
474000
605
244100
593.975

Jul-07
SBI WEEKLY REPORT (JULY-2007)
Date
Open
High
Low
Close
Volume
Adj Close
2/7/2007
1530
1799
1523.35
1550.5 1770500
1550.5
9/7/2007
1556
1583.95
1515
1559.95
895200
1559.95
16/7/2007
1560
1624.7
1545
1584.25 1162800
1584.25
23/7/2007
1584
1608
1470.1
1498.75 1206700
1498.75
30/7/2007
1524.45
1652.4
1509.8
1635.75 2615400
1635.75
1530120
1565.84

Date

Open

ICICI BANK WEEKLY REPORT

High
Low
Close
Volume

Adj Close

2/7/2007
9/7/2007
16/7/2007
23/7/2007
30/7/2007

981.5
979.9
972.5
983
910

1010
991.25
1003.5
991.15
940

945
950.5
948
901
881.55

981.5
972.5
985.85
914.4
915.5

2435700
1616300
1449100
1718700
2291100
1902180

981.5
972.5
985.85
914.4
915.5
953.95

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
2/7/2007
86.4
87.9
85
85.05
272400
85.05
9/7/2007
85.1
91
84.2
89.45
841100
89.45
16/7/2007
90.95
99.15
89.05
93.05 2419700
93.05
23/7/2007
93.45
95.5
83.05
84.05 1219600
84.05
30/7/2007
84
89.15
81.75
82.75
956200
82.75
1141800
86.87
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
2/7/2007
613.4
635.3
600.6
628.8
373000
628.8
9/7/2007
630
658.7
615.2
641.25
78200
641.25
16/7/2007
640
661
630
649.2
60700
649.2
23/7/2007
650
650
593
608.75
137800
608.75
30/7/2007
607
680
600
620.7
838900
620.7
297720
629.74

Aug-07
SBI WEEKLY REPORT (AUG-2007)
Date
Open
High
Low
Close
Volume
Adj Close
6/8/2007
1610
1734.8
1575.2
1606.95 1775800
1606.95
13/8/2007
1620
1636
1461.05
1515.05 1930800
1515.05

20/8/2007
27/8/2007

1575
1519

1590
1618

1407
1486

1468
1596

2202300
1896100
1951250

1468
1596
1546.5

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
6/8/2007
915.5
920
840.1
864.1 3234700
864.1
13/8/2007
880
888.8
805
822.9 3186400
822.9
20/8/2007
869.8
888.8
811.05
832 2557400
832
27/8/2007
859.9
894.6
841.25
885 4274100
885
3313150
851
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
6/8/2007
82
89.9
79.7
83.65
746800
83.65
13/8/2007
84.6
86
75.9
77.15
790000
77.15
20/8/2007
80
83
72.55
79 1125500
79
27/8/2007
79.95
85.7
79.1
85.3
654400
85.3
829175
81.275
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
6/8/2007
610
639.45
576.5
590.05
298200
590.05
13/8/2007
612.5
612.5
534
574.65
200900
574.65
20/8/2007
580
613
563
571.8
76300
571.8
27/8/2007
581
643
575.2
634.1 2244300
634.1
704925
592.65

Sep-07
SBI WEEKLY REPORT (SEP-2007)
Date

Date

Open
3/9/2007
10/9/2007
17/9/2007
24/9/2007

High
Low
1619
1653
1594
1707.55
1635
1844
1840
1961.95

Close
1580
1585
1635
1780

Volume
Adj Close
1617 1292600
1617
1652.7 1211600
1652.7
1828 1257400
1828
1957.05 1617300
1957.05
1344725 1763.688

ICICI BANK WEEKLY REPORT

Open
High
Low
Close
Volume
Adj Close
3/9/2007
890.1
930.65
890.1
917 2341200
917
10/9/2007
910
924
882
907 2262000
907
17/9/2007
908
980
890.9
962.95 3119600
962.95
24/9/2007
975
1069.9
968.65
1060.2 3814200
1060.2
2884250 961.7875

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
3/9/2007
86.5
92.65
84.4
91.5 1401800
91.5
10/9/2007
91
95.95
88
92.15 1209000
92.15
17/9/2007
91.8
98
90.15
95 1153300
95
24/9/2007
95
106.7
94.6
106 2204500
106
1492150
96.1625

Date

AXIS BANK WEEKLY REPORT

Open
High
Low
Close
Volume
Adj Close
3/9/2007
636
675
625
651.7
230400
651.7
10/9/2007
650
672
641.3
649.35
173900
649.35
17/9/2007
641.05
714.9
641.05
709.85
181800
709.85
24/9/2007
712
775
708.05
764.4
112300
764.4
174600
693.825

Oct-07
SBI WEEKLY REPORT (OCT-2007)
Date
Open
1/10/2007
8/10/2007
15/10/2007
22/10/2007
29/10/2007

High
Low
1952
1965
1885
1958.6
1874
1991
1630
2105
2135
2274

Close
Volume
Adj Close
1786
1844.15 1788100
1844.15
1749.7
1871 1494900
1871
1600
1674.1 1809300
1674.1
1610.1
2100 2119200
2100
2000
2250 2378600
2250
1918020
1947.85

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
1/10/2007
1068
1125.4
1018
1028 3595000
1028
8/10/2007
1040
1098.95
975
1056.65 2682600
1056.65
15/10/2007
1060
1182.9
981.1
1013.5 5135000
1013.5
22/10/2007
1000.1
1200
1000.1
1193.25 4202000
1193.25
29/10/2007
1210.1
1349
1195.5
1332 3861800
1332
3895280
1124.68
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
1/10/2007
106
106.5
93.15
96 1187600
96
8/10/2007
97
97.95
84.4
89.65 1075800
89.65
15/10/2007
91.8
91.8
80
83.05 1164900
83.05
22/10/2007
81
92.9
81
92.05 1410500
92.05
29/10/2007
92.9
94.35
80.15
90.15 1236500
90.15
1215060
90.18
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
1/10/2007
770
772
728
737.2
87700
737.2
8/10/2007
730.1
781
692
743.15
126100
743.15

15/10/2007
22/10/2007
29/10/2007

755
820
927

899
928.3
959.9

750
800
860

832.35
919
929.2

217400
100200
65700
119420

832.35
919
929.2
832.18

Nov-07
SBI WEEKLY REPORT (NOV-2007)
Date
Open
5/11/2007
12/11/2007
19/11/2007
26/11/2007

High
Low
Close
2250
2329.4
2125
2100
2450
2080.35
2335
2369.7
2124.2
2280
2345
2222.1

Volume
Adj Close
2136 1711900
2136
2323 1519600
2323
2261 1403800
2261
2305 1243100
2305
1469600
2256.25

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
5/11/2007
1329.85
1330
1126
1127.05 2635900
1127.05
12/11/2007
1100.05
1303
1084
1220.1 2629500
1220.1
19/11/2007
1225
1240
1080
1138.25 2792200
1138.25

26/11/2007

1164.9

1193.5

1105

1175

2582100
2659925

1175
1165.1

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
5/11/2007
92
94.4
87.05
89.8
591200
89.8
12/11/2007
89.95
103.85
84.2
102.4 1740800
102.4
19/11/2007
119.5
119.5
92
100 1378100
100
26/11/2007
103.2
103.4
95.55
100
651200
100
1090325
98.05
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/11/2007
932.15
1019.7
886.15
914.75
123600
914.75
12/11/2007
900
1000
882
974.6
70900
974.6
19/11/2007
996.5
1025
900.15
929.95
59500
929.95
26/11/2007
950
970
902
931.25
667700
931.25
230425 937.6375

Dec-07
SBI WEEKLY REPORT (DEC-2007)

Date
Open
High
Low
Close
Volume
Adj Close
3/12/2007
2330
2457.7
2302
2436
997200
2436
10/12/2007
2436
2476
2376.35
2410.55
611300
2410.55
17/12/2007
2410
2410
2227
2270
765000
2270
24/12/2007
2324.7
2438.7
2290.35
2376.8
677400
2376.8
31/12/2007
2409.8
2574
2342
2380
568900
2380
723960
2374.67
ICICI BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/12/2007
1180
1250
1131
1246 3323600
1246
10/12/2007
1250.1
1326.6
1203
1209.35 2472700
1209.35
17/12/2007
1238.8
1238.8
1130.25
1163 2238300
1163
24/12/2007
1160
1260
1158
1230 1689300
1230
31/12/2007
1238
1300
1200
1280 1992000
1280
2343180
1225.67
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/12/2007
100.5
111
100.05
104.5
862600
104.5
10/12/2007
109.9
116.4
103
111 1673800
111
17/12/2007
111
112
100.6
101.4
662100
101.4
24/12/2007
103.7
107.75
102.15
105.75
644800
105.75
31/12/2007
107.05
128.45
104.9
124.6 2920800
124.6
1352820
109.45
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/12/2007
940
950.3
920
935.2
25200
935.2
10/12/2007
940
1000
925.5
993.9
116000
993.9
17/12/2007
999
1009
925.9
932.1
51200
932.1
24/12/2007
1000
1000
925
976.95
74800
976.95
31/12/2007
976.45
1074.75
963.6
1056.45
73100
1056.45
68060
978.92

Jan-08
SBI WEEKLY REPORT (JAN-2008)
Date
Open
High
Low
Close
Volume
Adj Close
7/1/2008
2398.7
2507
2361
2453.1
921900
2453.1
14/1/2008
2478.7
2536.35
2325.25
2370 1178100
2370
21/1/2008
2357
2458.8
1830
2405 1466300
2405
28/1/2008
2299
2359
2117
2195
985800
2195
1138025 2355.775

Date
Open
7/1/2008
14/1/2008
21/1/2008
28/1/2008

ICICI BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
1280
1450
1234
1440.55 5791300
1440.55
1450
1455.5
1221.25
1240 5947600
1240
1250
1277
1001.65
1260 6499500
1260
1240
1313.85
1131.1
1201.3 3407200
1201.3
5411400 1285.463

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
7/1/2008
121
125.6
109.25
113.55 1251800
113.55
14/1/2008
113.95
118.5
105.5
107.45
984500
107.45
21/1/2008
102
105
71
95.4 1370200
95.4
28/1/2008
91
100
87
92 1250700
92
1214300
102.1
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
7/1/2008
1053
1175
1034
1167.45
177100
1167.45
14/1/2008
1165
1291
1090
1112.75
171100
1112.75
21/1/2008
1100
1152
900
1098.3
148900
1098.3
28/1/2008
1109.7
1199.7
1040
1087.8
116500
1087.8
613600 1116.575

Feb-08
SBI WEEKLY REPORT (FEB-2008)
Date

Open

4/2/2008
11/2/2008
18/2/2008
25/2/2008

Date

High

2214
2266.9
2315
2133.7

Low
2307.4
2304
2339.7
2155

Close
Volume
Adj Close
2116.2
2191.1
887000
2191.1
2001.7
2294
709700
2294
2100
2100
684500
2100
1945
2088.8 1110100
2088.8
847825 2168.475

ICICI BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
1221
1244.9
1026
1068 2457100
1068
1069.7
1199.35
999
1195 3751600
1195
1220
1242.8
1090
1093 2458500
1093
1110
1190.65
1045.45
1077.65 2582500
1077.65
2812425 1108.413

Open

4/2/2008
11/2/2008
18/2/2008
25/2/2008

Date

Open

4/2/2008
11/2/2008
18/2/2008
25/2/2008

Date

Open
4/2/2008

ANDHRA BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
93
96.5
87.4
89 1000700
89
89.4
92.4
82.65
90.2
845800
90.2
92
95
88.5
88.9
875600
88.9
90.7
92.7
85.8
90.8
930800
90.8
913225
89.725
AXIS BANK WEEKLY REPORT
High
Low
Close
Volume
Adj Close
1100
1140
974
980.85
75300
980.85

11/2/2008
18/2/2008
25/2/2008

982
1046
999

1046.8
1075
1040

900
960
937

1026.9
970.5
1018.75

194900
95400
210800
144100

1026.9
970.5
1018.75
999.25

Mar-08
SBI WEEKLY REPORT (MAR-2008)
Date
Open
3/3/2008
10/3/2008
18/3/2008
25/3/2008
31/3/2008

High
2001
1810
1640
1665
1674

Low
2052.4
1960
1679.4
1794
1711

Close
Volume
Adj Close
1755.5
1831 1434900
1831
1680
1709.9 1314500
1709.9
1581
1603 1425700
1603
1612.65
1680.2 1271500
1680.2
1582
1603
875200
1603
1264360
1685.42

ICICI BANK WEEKLY REPORT

Date
Open
High
Low
3/3/2008
1060
1060
10/3/2008
877
924
18/3/2008
768.7
899
25/3/2008
839.85
893
31/3/2008
848.85
848.85

Close
Volume
Adj Close
855.25
890.05 7742800
890.05
817
874 5066100
874
720.05
779 8038700
779
752.55
835 5145600
835
732
764.8 4110500
764.8
6020740
828.57

ANDHRA BANK WEEKLY REPORT

Date
Open
High
Low
Close
Volume
Adj Close
3/3/2008
87.3
88.8
79.9
80.35
573900
80.35
10/3/2008
79
87.4
76.55
81.6
538800
81.6
18/3/2008
76.9
78
68.55
68.8
934800
68.8
25/3/2008
69.9
79.5
69.3
77.3
591100
77.3
31/3/2008
76
78.5
72.65
74
312300
74
590180
76.41
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
3/3/2008
1000
1000
809.3
840.1
114400
840.1
10/3/2008
810
883
762.1
860.6
540900
860.6
18/3/2008
830
833
740
747.25 1050400
747.25
25/3/2008
751
838
707.05
804.9 2691000
804.9
31/3/2008
799
804
710.05
714.75
355100
714.75
950360
793.52

Apr-08
SBI WEEKLY REPORT (APR-2008)
Date
Open
High
Low
Close
Volume
Adj Close
7/4/2008
1619
1722
1561.35
1665.15
964700
1665.15
15/4/2008
1664
1721
1630.1
1676.8
846900
1676.8
21/4/2008
1674.9
1753.8
1660
1749
837000
1749
28/4/2008
1760
1840
1720.1
1825 1084600
1825
933300 1728.988
ICICI BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
7/4/2008
799.95
842
726.55
788.4 4047700
788.4
15/4/2008
761.1
851
752.2
835.6 4685600
835.6
21/4/2008
841
929.8
825.25
913 4102400
913
28/4/2008
931.8
960
872
932.6 5432400
932.6
4567025
867.4
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
7/4/2008
75.7
79.8
73.15
77
293400
77
15/4/2008
77.4
81.9
76.2
81.5
308800
81.5
21/4/2008
81
84
77.55
80.9
373500
80.9
28/4/2008
81
84.5
79.5
83
394100
83
342450
80.6

Date
Open
7/4/2008
15/4/2008
21/4/2008
28/4/2008

AXIS BANK WEEKLY REPORT

High
Low
Close
Volume
Adj Close
719
821
692.5
761.7
292000
761.7
762
854
742.5
824.75
387800
824.75
823
923.6
799
906.6
544500
906.6
910
950
898.3
933.2
337200
933.2
390375 856.5625

May-08
SBI WEEKLY REPORT (MAY-2008)
Date
Open
High
Low
Close
Volume
Adj Close
5/5/2008
1838.4
1838.4
1666.35
1673 1014200
1673
12/5/2008
1665
1714
1616
1708
729000
1708
20/5/2008
1700
1702
1564.3
1575.5
904300
1575.5
26/5/2008
1563
1574.7
1435.35
1445 1106800
1445
938575 1600.375
ICICI BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/5/2008
950
960.9
863.3
872 4161000
872
12/5/2008
865
945
862
944 3442500
944
20/5/2008
957
971
857.35
863 4032400
863
26/5/2008
835.25
863
778.2
786.55 5752700
786.55
4347150 866.3875
ANDHRA BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/5/2008
83.75
87.9
80.1
81
354900
81
12/5/2008
80.9
82.65
79
80.35
343900
80.35
20/5/2008
80.05
81.95
79.5
79.7
176700
79.7
26/5/2008
78
80.15
73.9
75.55
565300
75.55
360200
79.15
AXIS BANK WEEKLY REPORT
Date
Open
High
Low
Close
Volume
Adj Close
5/5/2008
930
969.9
831.05
836.3
359700
836.3
12/5/2008
815
917.4
812
901.65
394600
901.65
20/5/2008
902.15
908
797.6
799.85
282000
799.85
26/5/2008
781
850
731.1
794.05
405400
794.05
360425 832.9625

VOLUME TRADED
SBI
ICICI
ANDHRA AXIS
May-06 1588560 1032800 1033360
98520
Jun-06 1751000 1115325
708600
299525
Jul-06 1665160 1093020
825280
131420
Aug-06 1279400 1401250 1023900
80225
Sep-06 1102325
951575 1231850
142500
Oct-06
948840 1010260 1174780
90800
Nov-06 1353975 1910700 1054550
448275
Dec-06 1144700 1095825
547275
189575
Jan-07 1149920 1235480
503540
150760
Feb-07 1222075 1658550
446650
167675
Mar-07 1405975 1583175
212250
154600
Apr-07 1254880 1475340
434140
299640
May-07 1651800 1372750
842725
313850
Jun-07 1805700 1106400
510475
244100
Jul-07 1530120 1902180 1141800
297720
Aug-07 1951250 3313150
829175
704925
Sep-07 1344725 2884250 1492150
174600

Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08

1918020
1469600
723960
1138025
847825
1264360
933300
938575

3895280
2659925
2343180
5411400
2812425
6020740
4567025
4347150

1215060
1090325
1352820
1214300
913225
590180
342450
360200

119420
230425
68060
613600
144100
950360
390375
360425

ADJUSTED CLOSING PRICE

SBI
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08

ANDHRA

ICICI
872.714 572.72
735.85 473.36
747.88 506.23
884.34 586.36
971.67 644.74
1051.53 725.99
1232.06 855.16
1256.76 865.34
1196.76
950
1084.81
913
968 844.05
1039 874.28
1269 897.92
1411.8 928.06
1565.8 953.95
1546.5
851
1763.68
961.7
1947.8 1124.6
2256.2 1165.1
2374.6 1225.6
2355.7 1285.4
2168.4 1108.4
1685.4
828.5
1728.9
867.4
1600.3
866.3

AXIS
76.16 327.17
61.43 258.43
64.04 282.09
82.06 334.87
88.06
351.8
91.11 413.03
90.05 474.52
85.49 459.31
86.58
517
79.215
515.9
75.21
477.4
77.5
460
85.39
549
84.28 593.97
86.87 629.74
81.27 592.65
96.16
693
90.8
832.1
98.05
937
109.45
978.9
102.1 1116.5
89.72
999.2
76.4
793
80.6
856.5
79.15 832.96

AVERAGE VOLUME TRADED FOR THE PERIOD MAY-06 TO

APR-07
2500000
2000000
SBI

1500000

ICICI
1000000

ANDHRA
BANK
AXIS

500000
0
May06

J un- J ul-06 Aug06

06

Sep06

Oct06

Nov06

Dec06

J an07

Feb07

Mar07

Apr07

AVERAGE VOLUME TRADED FOR THE PERIOD APR-07

TO MAY-08
7000000
6000000
5000000

SBI

4000000

ICICI

3000000

ANDHRA
BANK
AXIS

2000000
1000000
0
May- J un- J ul- Aug- Sep- Oct- Nov- Dec- J an- Feb- Mar- Apr- May07 07
07
07
07
07
07 07 08
08 08
08
08

AVERAGE CLOSING PRICE

1400
1200
1000

SBI

800

ICICI

600

ANDHR
A
AXIS

400
200
0
May- J un06
06

J ul- Aug- Sep- Oct- Nov- Dec- J an- Feb- Mar- Apr06
06
06
06
06
06
07
07
07
07

AVERAGE CLOSING PRICE

2500
2000
SBI

1500

ICICI

1000

ANDHR
A
AXIS

500
0
May- J un- J ul- Aug- Sep- Oct- Nov- Dec- J an- Feb- Mar- Apr- May07 07
07
07 07
07
07
07 08 08
08
08
08

CHAPTER-5

FINDINGS, SUGGESTIONS
AND
CONCLUSION

5.1.FINDINGS

AVERAGE VOLUME TRADED FOR THE FINANCIAL YEAR MAY-06 TO APRIL-07

SBI registered high in JUNE-06 & low in OCT-06.

It is observed that the average volume traded for ICICI is very high in

NOVEMBER-2006 and low in SEPTEMBER-2006.

ANDHRA BANK average volume traded high in SEPTEMBER-06 & low in

MARCH-07.
AXISBANK has registered high in NOVEMBER-06 and low in MAY-06.

AVERAGE CLOSING PRICE FOR THE FINANCIAL YEAR MAY-06 TO APRIL-07

 Average Closing Price for SBI is high in the month of DECEMBER-06 and low in

JUNE-06.
Average Closing Price for ICICI is high in the month of JANUARY-07 & low in

JUNE-06.
Average Closing Price for Andhra Bank is high in the month of OCTOBER-06 &

low in JUNE-06.
Average Closing Price for Axis Bank is high in the month of JANUARY-07 & low

in JUNE-06.

AVERAGE VOLUME TRADED FOR THE FINANCIAL YEAR MAY-07 TO MAY-08

SBI registered high in the month of OCTOBER-07 & low in DECEMBER-07.

ICICI registered highest volume traded in MARCH-2008 and lowest in JUNE-07.
ANDHRA BANK registered highest in SEPTEMBER-07 & lowest in JUNE-07.
AXISBANK registered highest in MARCH-08 and lowest in DECEMBER-07.

AVERAGE CLOSING PRICE FOR THE FINANCIAL YEAR MAY-07 TO MAY-08

Average Closing Price for SBI is high in the month of DECEMBER-07 and low in

MAY-07.
Average Closing Price for ICICI is high in the month of JANUARY-08 & low in

MARCH-08.
Average Closing Price for Andhra Bank is high in the month of DECEMBER-07 &

low in MAY-07.
Average Closing Price for Axis Bank is high in the month of JANUARY-08 & low

in MAY-07.

5.2.SUGGESTIONS

1. It is suggested to the investors that it is better to invest between September to

March , since the average Volume Traded and Closing Price are very high.

2. Investors should be careful while investing between April to August.

3. SBI & ICICI are the best for investing because there is high growth rate.

4. In ANDHRA BANK & AXIS BANK there is no growth rate.

5. For Long term gains SBI & ICICI are the best for investment.

6. For Short term gains Axis Bank & Andhra Bank can be considered as there are less

profits.

5.3.CONCLUSION

It is concluded that from the period of May-2006 to May-2008 the Average Volume
Trading is low from May to September and from September to March trading was
high.

Average Closing Price in this two years that is from May-2006 to May-2008 was
low from May to August and increased from September to March.

SBI is good for the investment.

BIBLIOGRAPHY

BIBLIOGRAPHY

Books
Security Analysis and Portfolio management- Punithavathy Pandian - Vikas

publishing house PVT LTD

Security Analysis and Portfolio management - Inderpal Singh, Vijay Kaushal,

Jaswinder Kaur, Raminder Bhatia Kalyani publishers

Investment Analysis and Management Jack Clark Francis McGRAW-HILL

International Editions
Websites
www.Sharekhan.com

www.icici.com
www.nseindia.com
www.sbi.com
www.axisbank.com