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University of Mumbai: A Study On Attitude of Investors Towards Investment in Stock Market W.R.T Thane Region
University of Mumbai: A Study On Attitude of Investors Towards Investment in Stock Market W.R.T Thane Region
PROJECT REPORT ON
A Project Submitted To
UNIVERSITY OF MUMBAI
BY
ROLL NO. 45
Thane – 400604
CERTIFICATE
I the undersigned Mr. PARTH SUNIL KADAM here by, declare that the work
embodied in this project work titled “A STUDY ON ATTITUDE OF INVESTORS
TOWARDS INVESTMENT IN STOCK MARKET W.R.T THANE REGION.”,
forms my own contribution to the research work carried out under the guidance of
Asst. Prof. Manoj Shivdas Wagh is a result of my own research work and has not
been previously submitted to any other University for any other Degree/ Diploma to
this or any other University.
Wherever reference has been made to previous works of others, it has been clearly
indicated as such and included in the bibliography.
I, here by further declare that all information of this document has been obtained and
presented in accordance with academic rules and ethical conduct.
Certified by
To list who all have helped me is difficult because they are so numerous and the depth
is so enormous.
I would like to acknowledge the following as being idealistic channels and fresh
dimensions in the completion of this project.
I take this opportunity to thank the University of Mumbai for giving me the chance
to do this project.
I would like to thank my I/C Principal, Dr. Bhushan P. Langi Sir for providing the
necessary facilities required for the completion of this project.
I take this opportunity to thank our Vice Principal and Coordinator DR. Shraddha
M. Bhome, for her moral support and guidance.
I would also like to express my sincere gratitude towards my project guide Asst. Prof.
Manoj S. Wagh whose guidance and care made the project successful.
I would like to thank my College Library, for having provided various reference
books and magazines related to my project.
Lastly, I would like to thank each and every person who directly or indirectly helped
me in the completion of the project especially my Parents and Peers who supported
me throughout my project.
1 Title page -
2 Certificate I
3 Declaration II
4 Acknowledgment III
5 INDEX IV-VIII
6 Abstract IX
SECONDARY MARKET
INDIA.
1.13 REGULATORS
RESPONDENTS
RESPONDENTS
OF THE RESPONDENTS
RESPONDENTS
STOCK MARKET
RESPONDENTS INVEST.
BIBLOGRAPHY
ANNEXURE
ABSTRACT
Without a doubt, stock markets are an important and necessary aspect of any country's
economy. However, the impact of stock markets on a country's economy may differ
from the impact of stock markets on other countries’ economies. This is because the
impact of stock markets on the economy is influenced by a variety of factors such as
the organization of stock exchanges, their link with other financial system
components, the country's governance system, and so on. Because each of these
characteristics is unique to each country, the impact of stock markets on a country's
economy is likewise unique.
The Indian capital market system has experienced considerable fundamental
institutional changes over the years, resulting in lower transaction costs, more
efficiency, transparency, and safety. All of these changes have resulted in the
economy's development through stock markets. Similarly, technical advancements
have fueled economic growth. Furthermore, a strong need for stock market
development is projected as a result of economic expansion supported by improved
technology, product, and service innovation.
The introduction section of the paper briefly reviews the stock markets and
developments in Indian stock markets to help us understand how stock markets have
evolved into the driving economic forces that they are today; the next section presents
several studies that review the impact of financial development, stock market
development, and functions, and about the probable impact on economic grow
CHAPTER 1: INTRODUCTION
The secondary market, is also called the aftermarket, is the financial market in
which previously issued financial instruments such as stock, bonds options, and future
s are bought and sold. Another frequent usage of "secondary market" is to refer to
loans that are sold by a mortgage bank to invest in or such as Fannie Mae and Freddie
Mac.
The term "secondary market" is also used to refer to the market for any used goods or
assets, or alternative use for an existing product or asset where the customer base is
the second market (for example, corn has been traditionally used primarily for food
production and feedstock, but a "second" or "third" market has developed for use in
ethanol production).
With primary issuances of securities or financial instruments, or the primary market,
investors purchase these securities directly from issuers such as corporations issuing
shares in an IPO or private placement, or directly from the federal government in the
case of treasuries. After the initial issuance, investors can purchase from other
investors in the secondary market.
The secondary market for a variety of assets can vary from loans to stocks, from
fragmented to centralized, and from illiquid to very liquid. The major stock
exchanges are the most visible example of liquid secondary markets - in this case, for
stocks of publicly traded companies. Exchanges such as the New York Stock
Exchange, London Stock Exchange, and Nasdaq provide a centralized, liquid
secondary market for the investors who own stocks that trade on those exchanges.
Most bonds and structured products trade “over the counter,” or by phoning the bond
desk of one’s broker-dealer. Loans sometimes trade online using a Loan Exchange.
The secondary market provides liquidity to the investors in the primary market. Today
we would not invest in any instrument if there was no medium to liquidate our
position. The secondary markets provide an efficient platform for trading those
securities initially offered in the primary market. Also, those investors who have
applied for shares in an IPO may or may not get allotment. If they don‘t then they can
always buy the shares (sometimes at a discount or a premium) in the secondary
market. Trading in the secondary market is done through the stock exchange. The
Stock exchange is a place where the buyers and sellers meet to trade shares in an
organized manner
1.2 PRODUCTS AVAILABLE IN THE SECONDARY MARKET
Equity: The ownership interest in a company of holders of its common and preferred
stock. The various kinds of equity shares are as follows:-
1.2.1 Equity Shares :An equity share, commonly referred to as an ordinary share
also represents the form of fractional ownership in which a shareholder, as a fractional
owner, undertakes the maximum entrepreneurial risk associated with a business
venture. The holders of such shares are members of the company and have voting
rights. Rights Issue / Rights Shares: The issue of new securities to existing
shareholders at a ratio to those already held.
1.2.2 Bonus Shares: Shares issued by the companies to their shareholders free of cost
by the capitalization of accumulated reserves from the profits earned in the earlier
years.
Preferred stock / Preference shares: Owners of these kinds of shares are entitled to
a fixed dividend or dividend calculated at a fixed rate to be paid regularly before the
dividend can be paid in respect of equity share. They also enjoy priority over the
equity shareholders in payment of surplus. But in the event of liquidation, their claims
rank below the claims of the company’s creditors, bondholders/ debenture holders.
Both these indices are calculated on the basis of market capitalization and contain the
heavily traded shares from key sectors. The markets are closed on Saturdays and
Sundays. Both the exchanges have switched over from the open outcry trading system
to a fully automated computerized mode of trading known as BOLT (BSE on Line
Trading) and NEAT (National Exchange Automated Trading) System.
It facilitates more efficient processing, automatic order matching, faster execution of
trades and transparency; the scrip’s traded on the BSE have been classified into ‘A’,
‘B1′, ‘B2′, ‘C’, ‘F’ and ‘Z’ groups. The ‘A’ group shares represent those, which are in
the carry forward system (Badla). The ‘F’ group represents the debt market (fixed
income securities) segment. The ‘Z’ group scrip’s are the blacklisted companies. The
‘C’ group covers the odd-lot securities in ‘A’, ‘B1′ & ‘B2′ groups and Rights
renunciations. The key regulator governing Stock Exchanges, Brokers, Depositories,
Depository participants, Mutual Funds, FIIs and other participants in Indian
secondary and primary market is the Securities and Exchange Board of India (SEBI)
Ltd.
News on the stock market appears in different media every day. You hear about it any
time it reaches a new high or a new low, and you also hear about it daily in statements
like ‘The BSE Sensitive Index rose 5% today’. Obviously, stocks and stock markets
are important. Stocks of public limited companies are bought and sold at a stock
exchange. But what really are stock exchanges? Known also as the stock market or
bourse, a stock exchange is an organized marketplace for securities (like stocks,
bonds, options) featured by the centralization of supply and demand for the
transaction of orders by member brokers, for institutional and individual investors.
The exchange makes buying and selling easy. For example, you don’t have to actually
go to a stock exchange, say, BSE – you can contact a broker, who does business with
the BSE, and he or she will buy or sell your stock on your behalf.
There are two leading stock exchanges in India which help us trade are:
i. National Stock Exchange: National Stock Exchange incorporated in the year 1992
provides trading in the equity as well as debt market. Maximum volumes take place
on NSE and hence enjoy leadership position in the country today ii. Bombay Stock
Exchange: BSE on the other hand was set up in the year 1875 and is the oldest stock
exchange in Asia. It has evolved in to its present status as the premier stock
exchange.
1.9BOMBAY STOCK EXCHANGE
Established in 1875, BSE Ltd. (formerly known as Bombay Stock Exchange Ltd. and
established as "The Native Share and Stock Brokers' Association") is one of Asia’s
fastest stock exchanges, with a speed of 200 microseconds and one of India’s leading
exchange groups. BSE is a corporatized and demutualized entity, with a broad
shareholder-base that includes two leading global exchanges, Deutsche Bourse and
Singapore Exchange, as strategic partners. BSE provides an efficient and transparent
market for trading in equity, debt instruments, derivatives, and mutual funds. It also
has a platform for trading in equities of small-and-medium enterprises (SME). Over
the past 139 years, BSE has facilitated the growth of the Indian corporate sector by
providing an efficient capital-raising platform.
More than 5000 companies are listed on BSE, making it the world's top exchange in
terms of listed members. The companies listed on BSE Ltd. command a total market
capitalization of USD 1.51 Trillion as of May 2013.[1]It is also one of the world’s
leading exchanges (3rd largest in March 2014) for Index options trading (Source:
World Federation of Exchanges). BSE also provides a host of other services to
capital market participants, including risk management, clearing, settlement, market
data services, and education. It has a global reach with customers around the world
and a nation-wide presence. BSE systems and processes are designed to safeguard
market integrity, drive the growth of the Indian capital market, and stimulate
innovation and competition across all market segments. BSE is the first exchange in
India and the second in the world to obtain an ISO 9001:2000 certification and the
Information Security Management System Standard BS 7799-2-2002 certification for
its On-Line trading System (BOLT). It operates one of the most respected capital
market educational institutes in the country (the BSE Institute Ltd.). BSE also
provides depository services through its Central Depository Services Ltd. (CDSL)
arm. BSE’s popular equity index - the S&P BSE SENSEX (Formerly SENSEX) - is
India's most widely tracked stock market benchmark index. It is traded
internationally on the EUREX as well as leading exchanges of the BRCS nations
(Brazil, Russia, China and South Africa). On Tuesday, 19 February 2013 BSE has
entered into Strategic Partnership with S&P DOW JONES INDICES and the
SENSEX has been renamed as "S&P BSE SENSEX".
1.10COMPANIES LISTED ON BSE
1.Axis Bank
3.BhartiAirtel Ltd
5.Cipla Ltd
15.Infosys Ltd
16.ITC Ltd
20.NTPC Ltd
30.Wipro Ltd
NSE has a market capitalisation of more than US$1.5 trillion and Number of
securities (equities segment) available for trading are 3,091 as on June 2013.[2]Though
a number of other exchanges exist, NSE and the Bombay Stock Exchange are the two
most significant stock exchanges in India, and between them are responsible for the
vast majority of share transactions. NSE's flagship index, the S&P CNX Nifty, is
used extensively by investors in India and around the world to take exposure to the
Indian equities market.
NSE was started by a clutch of leading Indian financial institutions at the behest of the
Government of India to bring transparency to the Indian market, and has a diversified
shareholding comprising domestic and global investors. The domestic investors
includes Life Insurance Corporation of India ,GIC ,State Bank of India and
Infrastructure Development Finance Company(IDFC) Ltd, while the foreign investors
include MS Strategic (Mauritius) Limited, Citigroup Strategic Holdings Mauritius
Limited, Tiger Global Five Holdings and Norwest Venture Partners X FII-Mauritius.
It offers trading, clearing and settlement services in equity, debt and equity
derivatives. It is India's largest exchange, globally in cash market trades, in currency
trading and index options. As on June 2013, NSE has 1673 VSAT terminals and 2720
leaselines, spread over more than 2000 cities across India.
The exchange was incorporated in 1992 as a tax-paying company and was recognized
as a stock exchange in 1993 under the Securities Contracts (Regulation) Act, 1956,
when Mr.P. V. Narasimha Rao was the Prime Minister of India and Dr. Manmohan
Singh was the Finance Minister. NSE commenced operations in the Wholesale Debt
Market (WDM) segment in June 1993. The Capital market (Equities) segment of the
NSE commenced operations in November 1994, while operations in the Derivatives
segment commenced in June 2000.The National Stock Exchange (NSE) is India's
leading stock exchange covering 364 cities and towns across the country. NSE was set
up by leading institutions to provide a modern, fully automated screen-based trading
system with national reach. The Exchange has brought about unparalleled
transparency, speed & efficiency, safety and market integrity. It has set up facilities
that serve as a model for the securities industry in terms of systems, practices and
procedures. NSE has played a catalytic role in reforming the Indian securities market
in terms of microstructure, market practices and trading volumes. The market today
uses state-of-art information technology to provide an efficient and transparent
trading, clearing and settlement mechanism, and has witnessed several innovations in
products & services viz. demutualisation of stock exchange governance, screen based
trading, compression of settlement cycles, dematerialisation and electronic transfer of
securities, securities lending and borrowing, professionalisation of trading members,
fine-tuned risk management systems, emergence of clearing corporations to assume
counterparty risks, market of debt and derivative instruments and intensive use of
information technology. The National Stock Exchange of India Limited has genesis in
the report of the High Powered Study Group on Establishment of New Stock
Exchanges, which recommended promotion of a National Stock Exchange by
financial institutions (FIs) to provide access to investors from all across the country
on an equal footing. Based on the recommendations, NSE was promoted by leading
Financial Institutions at the behest of the Government of India and was incorporated
in November 1992 as a tax-paying company unlike other stock exchanges in
thecountry. On its recognition as a stock exchange under the Securities Contracts
(Regulation) Act, 1956 in April 1993, NSE commenced operations in the Wholesale
Debt Market (WDM) segment in June 1993. The Capital Market (Equities) segment
commenced operations in November 1994 and operations in Derivatives segment
commenced in June 2000. NSE's mission is setting the agenda for change in the
securities markets in India. The NSE was set-up with the following objectives
PRODUCTS
Ambuja Cements Ltd. CEMENT & AMBUJACEM EQ INE079A01024
CEMENT
PRODUCTS
Asian Paints Ltd. CONSUMER ASIANPAINT EQ INE021A01026
GOODS
Axis Bank Ltd. FINANCIAL AXISBANK EQ INE238A01034
SERVICES
Bajaj Auto Ltd. AUTOMOBILE BAJAJ-AUTO EQ INE917I01010
SERVICES
Bharat Heavy INDUSTRIAL BHEL EQ INE257A01026
Electricals Ltd.
MANUFACTURING
Bharat Petroleum
ENERGY BPCL EQ INE029A01011
Corporation Ltd.
BhartiAirtel Ltd. TELECOM BHARTIARTL EQ INE397D01024
PRODUCTS
HCL Technologies IT HCLTECH EQ INE860A01027
Ltd.
HDFC Bank Ltd. FINANCIAL HDFCBANK EQ INE040A01026
SERVICES
Hero MotoCorp Ltd. AUTOMOBILE HEROMOTOC EQ INE158A01026
O
Hindalco Industries METALS HINDALCO EQ INE038A01020
Ltd.
Hindustan Unilever CONSUMER HINDUNILVR EQ INE030A01027
Ltd. GOODS
Housing Development
FINANCIAL HDFC EQ INE001A01036
SERVICES
IDFC Ltd. FINANCIAL IDFC EQ INE043D01016
SERVICES
IndusInd Bank Ltd. FINANCIAL INDUSINDBK EQ INE095A01012
SERVICES
Infosys Ltd. IT INFY EQ INE009A01021
Jindal Steel & Power METALS JINDALSTEL EQ INE749A01030
Ltd.
Kotak Mahindra FINANCIAL KOTAKBANK EQ INE237A01028
Bank Ltd.
SERVICES
Larsen & Toubro CONSTRUCTION LT EQ INE018A01030
Ltd.
Lupin Ltd. PHARMA LUPIN EQ INE326A01037
Mahindra & AUTOMOBILE M&M EQ INE101A01026
Mahindra Ltd.
Maruti Suzuki India AUTOMOBILE MARUTI EQ INE585B01010
Ltd.
NMDC Ltd. METALS NMDC EQ INE584A01023
NTPC Ltd. ENERGY NTPC EQ INE733E01010
Oil & Natural ENERGY
Gas ONGC EQ INE213A01029
Corporation Ltd.
Power Grid ENERGY POWERGRID EQ INE752E01010
Corporation of India
Ltd.
Punjab National FINANCIAL PNB EQ INE160A01014
Bank
SERVICES
Reliance Industries ENERGY RELIANCE EQ INE002A01018
Ltd.
SesaSterlite Ltd. METALS SSLT EQ INE205A01025
State Bank of India FINANCIAL SBIN EQ INE062A01012
SERVICES
Sun Pharmaceutical
PHARMA SUNPHARMA EQ INE044A01036
Industries Ltd.
Tata Consultancy IT TCS EQ INE467B01029
Services Ltd.
Tata Motors Ltd. AUTOMOBILE TATAMOTOR EQ INE155A01022
S
Tata Power Co. Ltd. ENERGY TATAPOWER EQ INE245A01021
Tata Steel Ltd. METALS TATASTEEL EQ INE081A01012
Tech Mahindra Ltd. IT TECHM EQ INE669C01028
UltraTech Cement CEMENT & ULTRACEMC EQ INE481G01011
Ltd. CEMENT O
PRODUCTS
Wipro Ltd. IT WIPRO EQ INE075A01022
Zee Entertainment
MEDIA ZEEL
& EQ INE256A01028
1.13REGULATORS
The responsibility for regulating the securities market is shared by Department of
Economic Affairs (DEA), Ministry of Company Affairs (MoCA), SEBI and Reserve
Bank of India (RBI). The activities of these agencies are co-ordinated by High level
committee on Capital and Financial markets. The orders of SEBI under the securities
laws are appellablebefore Securities Appellate Tribunals (SAT). The orders of the
SAT are appellable only before the Supreme Court on points of lawThe powers of
the Department of Economic Affairs under the SCRA are concurrently exercised by
SEBI. The SEBI Act and Depositories Act are mostly administered by SEBI. The
rules under the securities laws are framed by government while the regulations are
framed by SEBI. The powers under the companies Act relating to issue and transfer
of securities and non payment of dividend are administered by SEBI in case of listed
public companies and public companies proposing to get their securities listed. The
securities market uses the services of a large variety of intermediaries to bring the
suppliers of funds and suppliers of securities. All the intermediaries in the securities
market are now registered and regulated by SEBI. A code of conduct has been
prescribed for each intermediary as well as for their employees in the regulations;
capital adequacy and other norms have been specified, a system of monitoring and
inspecting their operations has been instituted to enforce compliance; and
disciplinary actions are being taken against them for violating any regulation. All the
intermediaries in the marketare mandated to have a compliance officer who reports
independently to SEBI about any non-compliance observed by him.
1.14INTRODUCTION TO INVESTMENT
Investment is time, energy, or matter spent in the hope of future benefits actualized
within a specified date or time frame. Investment has different meanings
ineconomicsandfinance. In economics, investment is the accumulation of newly
produced physical entities, such as factories, machinery, houses, and goods
inventories. In finance, investment is puttingmoneyinto an asset with the expectation
of capitalappreciation,dividends, and/orinterestearnings. This may or may not be
backed by research and analysis. Most or all forms of investment involve some form
of risk, such as investment in equities, property, and even fixed interest securities
which are subject, among other things, toinflationrisk. It is indispensable for
projectinvestorsto identify and manage the risks related to the investment.It's actually
pretty simple: investing means putting your money to work for you. Essentially, it's a
different way to think about how to make money. Growing up, most of us were
taught that you can earn an income only by getting a job and working. And that's
exactly what most of us do. There's one big problem with this: if you want more
money, you have to work more hours. However, there is a limit to how many hours a
day we can work, not to mention the fact that having a bunch of money is no fun if
we don't have the leisure time to enjoy it You can't create a duplicate of yourself to
increase your working time, so instead, you need to send an extension of yourself -
your money - to work. That way, while you are putting in hours for your employer,
or even mowing your lawn, sleeping, reading the paper or socializing with friends,
you can also be earning money elsewhere. Quite simply, making your money work
for you maximizes your earning potential whether or not you receive a raise, decide
to work optimize or look for a higher paying job. There are many different ways you
can go about making an investment. This includes putting money
intostocks,bonds,mutual funds, or real estate (among many other things), or starting
your own business. Sometimes people refer to these options as "investment vehicles,"
which is just another way of saying "a way to invest." Each of these vehicles has
positives and negatives, which we'll discuss in a later section of this tutorial. The
point is that it doesn't matter which method you choose for investing your money, the
goal is always to put your money to work so it earns you an additional profit. Even
though this is a simple idea, it's the most important concept for you to understand
1.15TYPES OF INVESTMENT
We've already mentioned that there are many ways to invest your money. Of course,
to decide which investment vehicles are suitable for you, you need to know their
characteristics and why they may be suitable for a particular investing objective.
Bonds
Grouped under the general category called fixed-income securities, the term bond is
commonly used to refer to any securities that are founded on debt. When you
purchase a bond, you are lending out your money to a company or government. In
return, they agree to give you interest on your money and eventually pay you back
the amount you lent out. The main attraction of bonds is their relative safety. If you
are buying bonds from a stable government, your investment is virtually guaranteed,
or risk-free. The safety and stability, however, come at a cost. Because there is little
risk, there is little potential return. As a result, the rate of return on bonds is generally
lower than other securities. (The Bond Basics tutorial will give you more insight into
these securities.)
Stocks
When you purchase stocks, or equities, as your advisor might put it, you become a
part owner of the business. This entitles you to vote at the shareholders' meeting and
allows you to receive any profits that the company allocates to its owners. These
profits are referred to as dividends.
While bonds provide a steady stream of income, stocks are volatile. That is, they
fluctuate in value on a daily basis. When you buy a stock, you aren't guaranteed
anything. Many stocks don't even pay dividends, in which case, the only way that
you can make money is if the stock increases in value - which might not happen.
MutualFunds
A mutual fund is a collection of stocks and bonds. When you buy a mutual fund, you
are pooling your money with a number of other investors, which enables you (as part
of a group) to pay a professional manager to select specific securities for you. Mutual
funds are all set up with a specific strategy in mind, and their distinct focus can be
nearly anything: large stocks, small stocks, bonds from governments, bonds from
companies, stocks and bonds, stocks in certain industries, stocks in certain countries,
etc.
The primary advantage of a mutual fund is that you can invest your money without
the time or the experience that are often needed to choose a sound investment.
Theoretically, you should get a better return by giving your money to a professional
than you would if you were to choose investments yourself. In reality, there are some
aspects about mutual funds that you should be aware of before choosing them, but we
won't discuss them here.
Alternative Investments: Options, Futures, FOREX, Gold, Real Estate, Etc. So,
you now know about the two basic securities: equity and debt, better known as stocks
and bonds. While many (if not most) investments fall into one of these two
categories, there are numerous alternative vehicles, which represent the most
complicated types of securitiesandinvestingstrategies.
The good news is that you probably don't need to worry about alternative investments
at the start of your investing career. They are generally high-risk/high-reward
securities that are much more speculative than plain old stocks and bonds. Yes, there
is the opportunity for big profits, but they require some specialized knowledge. So if
you don't know what you are doing, you could get yourself into a lot of trouble.
Experts and professionals generally agree that new investors should focus on
building a financial foundation before speculating. (For more on how levels of risk
correspond to certain investments,
1.16INVESTMENT PURPOSE
The investment purpose of public may be set out in terms of their savings for:
(i) Transactions purpose (for daily needs or regular payments)
Purchases of assets like shares and securities can be for either investment or
speculation or for both. Investment is long term in nature while speculation is short
term. All investments are risky to some extent but speculation is most risky as it
involves short term trading, buying and selling which may lead to profits sometimes
and losses at other times.
1.18INVESTMENT AVENUES
There is large number of investment avenues for savers in India. Some of them are
marketable and liquid while others are more risky and less safe. Risk and return are
the major characteristics which an investor has to face and handle. The investor has
to choose proper avenues from among them 72 depending on his objectives,
preferences, needs and abilities to take the minimum risk and maximize the returns.
The STOCK MARKET is a great investment if you have a long time horizon. But
should you continue toinvest in stocks once you retire? When you start withdrawing
from your retirement portfolio, you will be a lot more sensitive to STOCK MARKET
fluctuations. Most financial advisers recommend reducing stock market investments
as you get older, but you don’t want to just stick the money under the mattress either.
Inflation will erode cash savings over the years, and we need to continue to invest.
Here are seven investment alternatives to the stock market:
Annuities. There are many types of annuities, but the basic idea is that we pay an
insurance company a lump sum in exchange for a guaranteed monthly payment for
life. Annuity payouts are primarily tied to interest rates, so it’s probably a good idea
to wait until rates improve. You probably don’t want to put all of your savings into
an annuity because you really don’t know how long you will live. If your pension
and Social Security payments aren't enough to pay your minimal monthly expenses,
then it’s a good idea to buy an annuity to fill that gap.
Bonds. The classic alternative to the STOCK MARKET is bonds. You can lend
money to the government or a corporation and receive some interest. When the stock
market goes south, investors turn to bonds as a good diversification from the stock
market.
CDs. CDs are not very attractive at the moment because the yields are very low.
However, the return is guaranteed and the risk is also very low. Building a CD ladder
is a good way to guarantee stable returns. Once interest rates improve, it will be a
good idea to INVEST in a long-term CD.
Real estate. Rental properties are a great way to generate some income, but they can
be a lot of work. If you don’t want to deal with tenants, then a property management
company can be a huge help. If you really don’t want to be a landlord, consider a real
estate investment trust (REIT) instead. Investing in a REIT is much easier than
owning rental properties, and the dividend payout is usually very good compared to
other dividend STOCKS.
Gold. Gold is another diversification from the stock market. When economic turmoil
hits, the price of gold goes up. Gold represents stability, and a small portion of your
portfolio might benefit from that. Investing in gold is easier than ever. You can
INVEST IN GOLD ETFs without having to worry about stashing gold jewelry in the
freezer.
Peer-to-peer lending. Peer-to-peer lending is a great way to generate EXTRA
INCOME.
You lend money to individual borrowers and you’ll be paid an interest rate. The good
thing about peer-to-peer lending is that you can lend in $25 increments and diversify
your lending portfolio. Some percentage of borrowers will default, but your lending
portfolio should be able to handle some losses because the interest rate is so high.
One big caveat is if we have a big recession and many people lose their jobs, then the
default rate will skyrocket.
Long-term care insurance. The cost of long-term care can put a big dent into any
retirement portfolio. A good nursing home can cost over $10,000 a month depending
on where you live. Long-term care insurance can offset that cost. If your family has
any history of Alzheimer’s, dementia, or Parkinson’s disease, long-term care
insurance might be right for you. However, the cost of long-term care insurance is
quite high, so if your family doesn’t have any history of needing long-term care, it
might be better to INVEST the money elsewhere.
Retirees shouldn’t pull out of the STOCK MARKET completely because it is still a
great investment over the long term. Retirement can last over 30 years, and we need
some growth in our retirement portfolio. However, retirees need to take a close look
at their portfolio and ask themselves if they can handle the volatility. Most people
think they can handle a big drop in the stock market, but when it happens, they often
sell at the wrong time and lose out on the recovery. Choosing some alternative
investments outside the stock market may bolster your finances during such an event.
Today, the BSE is measured as the world’s 11th largest stock exchange and the
market capitalization is likely to be around $1.7 trillion. The market capitalization of
the NSE is estimated to be over $1.65 trillion. Over 5,000 companies are listed on the
BSE and 1,500 figures on the NSE. In terms of share trading volumes, still, both the
exchanges are on parity. Nowadays people can conduct online trading sitting in the
comfort of their homes. Facilities such as zero brokerage Demat and live updates are
all available with the help of the internet
1.21 AWARDS
NSE
• 2019-20
2020 Best of the Best Award for being the Index provider of the year, India
2020 Best of the Best Award for ETF Index Provider of the year, India
World’s Largest Derivative Exchange in terms of contracts traded
• 2018-19
Innovative Practices Award 2018 on Sustainable Development Goals
UN Global Compact Network India
CSR Times Awards for Best Project in Education under the Corporate Foundation
Category
• 2017-18
FICCI CSR Award for Exemplary Innovation
Capital Market: Vision 2020 - Best Stock Exchange of India
7th Annual Greentech HR Award 2017
Golden Peacock Award for Corporate Social Responsibility
ET NOW – CSR Leadership Award
Green IT award
India Achievers Awards, 2018 - NSE SME Driver of Entrepreneurship
Datacenter Summit and Awards 2017 for Innovation
Architecting a Digital Transformation Journey
Ranked among India’s Top 50 companies to work for
Recognized for being among the best in India’s financial services industry
BSE
As a pioneering financial institution in the Indian capital market, BSE has won
several awards and recognitions that acknowledge the work done and progress
made.
•IT Genius Awards 2017’ in the category ‘Data Centre Excellence’ for setup of
the India INX Data Centre by CORE (Centre of Recognition & Excellence)
•Digital Innovation Award 2017 for the Social Media Analytics Project by
Netmagic
•Business World Digital Leadership and CIO Award
•The IDC Digital Transformation Awards 2017
•The Best Exchange of the year award for equity and currency derivatives in
Tesla’s Commodity Economic Outlook Award 2017
•Best Brand award 2017 by Economic Times
•CIO POWER LIST 2017
•Best Corporate film encompassing Vision, History, Value and Spirit of
Excellence Award, Best Corporate film on Employer Branding award, and Most
Influential HR Leaders in India award at World HRD Congress 2017
•Best Exchange of the year' award at 4th India Bullion & Jewellery awards 2017
•Red Hat Innovation Awards 2016 by Red Hat Solutions
•Skoch Achiever Award 2016 for SME Enablement
•Best IT Implementation Award 2016 in the “Most Complex Project Category”
by PCQuest
•InfoSec Maestros Awards 2016.
•Lions CSR Precious Awards 2016
•Golden Peacock Award 2015
1.22 BOARD OF DIRECTOR
BSE & NSE
Name Designation
Name Designation
Strength:
High return
Large investment
Acquire capital for expanding the business
Secure the future losses
Weakness:
High risk
Based on the fluctuation. It becomes high loss when market goes down.
Can't predict future
Opportunity:
Lot of people wants to invest but don't invest due to insufficient knowledge.
Market is providing new opportunities and new options to invest.
Threat:
Recession
New government
Bubble burst
Fluctuates dollar prices
1.24 THE REASONS FOR STOCK PRICES GOING "UP" AND "DOWN"
Stock prices change every day because of market forces. By this we mean that stock
prices change because of "supply and demand". If more people want to buy a stock
(demand) than sell it (supply), then the price moves up!
Conversely, if more people wanted to sell a stock than buy it, there would be greater
supply than demand, and the price would fall. (Basics of economics!)Understanding
supply and demand is easy. What is difficult to understand is what makes people like
a particular stock and dislike another stock. If you understand this, you will know
what people are buying and what people are selling. If you know this you will know
what prices go up and down!
To figure out the likes and dislikes of people, you have to figure out what news is
positive for a company and what news is negative and how any news about a
company will be interpreted by the people.
The most important factor that affects the value of a company is its earnings. Earnings
are the profit a company makes, and in the long run no company can survive without
them. It makes sense when you think about it. If a company never makes money, it
isn't going to stay in business. Public companies are required to report their earnings
four times a year (once each quarter).
Dalal Street watches with great attention at these times, which are referred to as
earnings seasons. The reason behind this is that analysts base their future value of a
company on their earnings projection.If a company's results are better than expected,
the price jumps up. If a company's results disappoint and are worse than expected,
then the price will fall.
Of course, it's not just earnings that can change the feeling people have about a stock.
It would be a rather simple world if this were the case! During the "dotcom bubble",
for example, the stock price of dozens of internet companies rose without ever making
even the smallest profit. As we all know, these high stock prices did not hold, and
most internet companies saw their values shrink to a fraction of their highs. Still, this
fact demonstrates that there are factors other than current eamings that influence
stocks.
So, what are "all the factors" that affect the stocks price? The best answer is that
nobody really knows for sure. Some believe that it isn't possible to predict how stock
prices will change, while others think that by drawing charts and looking at past price
movements, you can determine when to buy and sell. The only thing we do know is
that stocks are volatile and can change in price very very rapidly.
CHAPTER 2: RESEARCH METHODOLOGY
2.1Introduction To Topic
The secondary market, is also called aftermarket, is the financial market in which
previously issued n financial instruments such as stock, bonds, options, bought and
sold. Another frequent usage of "secondary market" is to refer to loans which are sold
by a mortgage bank to investors such as Fannie Mae and Freddie Mac. The origin of
the stock market in India goes back to the end of the eighteenth century when long-
term negotiable securities were first issued. However, for all practical purposes, the
real beginning occurred in the middle of the nineteenth century after the enactment of
the companies Act in 1850, which introduced the features of limited liability and
generated investor interest in corporate securities. Definition of Stock and Shares
Stocks are “a type of security that signifies ownership in a corporation and represents
a claim on part of the corporation’s assets and earnings”. In the physical plane, a
stock certificate is simply a contract, a notarized piece of paper corresponding to a
stake in the company.
2.3Hypothesis of Study
1. Research work was carried out in Thane branch only the finding may not be
applicable to the other parts of the country because of social and cultural differences.
4. The view of the people are biased therefore it doesn't reflect true picture.
2.5Research Methodology
• Secondary data
• Interview
• Observation
• Experiment
• Survey
• Journals
• Websites
1. Livanas.J. (2006) presented the discoveries of the study into the investors
performance when choosing amongst the array of investments with
predetermined peril returns and the duration horizon along with the features. The
study used the data through a telephonic investigation of a total of 238 investors
and a further superset of the 4000 members who have provided the demographic
and trend data. The paper concludes that the weight of money is with institutional
investors so individual investors are not in a position to affect prices; the
stockholders are likely to act on the changes in rate of savings rather than
complete wealth; that investors were given the choice of investments for the 1st
time looked to alter their peril that is based mostly on their age, with elder
depositors shifting to less risky array of investments and the younger groups
increase their risks. However, investors who always had choice do not behave in
this manner. That stockholders constantly overestimate the revenues accessible
and target from their array of investments; that depositors gained more utility
with greater return but no clear utility from time horizon;
That investors with different personality ‗type‘ behaved differently and also that
demographic differences were clearly felt, for instance, ‗switchers‘ were likely to
go at the higher levels of education.
2. Mittal. M and Vyas. R (2007)They examined various variables and their roles
such as education income occupation and certain personal information such as
age gender and also the choice of investment by various investors. The study also
shows that the investment and their preferences are completely dependent upon
the investors personal factors like income gender education age and the
occupation. It was also found that the investors are of various types like they can
be a small businessman investment banker or owner of a company. The
investment decision that is taken by a specific person can change their fate or
future as the investment made can also change the fate of the company or the
organization.
3. Merikas(2008)conducted a study based on the Investors behavior and the
economic factors. And found that various factors such as expected corporate
earnings, firm status in industry, condition of financial statements, protection of
the investor, recent price movements, get rich quick, ethics of the firm
significantly influence investor decisions.
8. Kabra.G. et. al. (2010)He examined certain factors that affect the behavior of
investment and finished with the capitalists gender, age and the other factors
which decide that the investor is capable of investing in the bonds. The
outstanding growth within the market of security and the IPS that Hill initial
public offerings that are present in the market. The specific investors like their
savings or assets as per the risk which they prefer. The peril people choose
certain life insurance policies which can speed up deposit that is present in the
bank and after the workplace, the national security council and the PPF. The
occasions at times the blind assets are very rare or less, as most of the
shareholders become victims for certain supplies and other references themes
while deciding the selection of the funds. They are within certain and ties and
some physiological feature of impression which add on certainty and the framing
of slime, numerous factors are thought and ask for heterogeneous information
before execution some kind of investment dealings.
10. Anderson and et.al (2011)He calculated the behavior of the assets of the
employees working with oil India limited and came to a conclusion that there
were four major demographic aspects and variables that are (gender, age,
qualification and designation) they are very crucial aspects that help and give
guidance while taking an investment decision particularly the age is a very
important indicator which influences the equity savings decision. The gender has
a major effect on the current decisions of investment whereas the qualification
and designation have no role in the decision making of equity. Additional
research also shows that the demographics of shareholders play a major role
while selecting different array of investments and their willingness to opt for a
risk.
11. Fares and Khamis (2011) studied specific stockholders’ stock commerce
performance at the national capital stock market, Jordan, victimization the
multivariate analysis method. They know 4 activity features (education, age,
availability to the net and communication among the capitalist and the advisor)
that influenced the stockholders’ commerce selections. In step with the writers,
age of the stockholder’s, occupation, and their approachability to the web had a
bigger and a positive impact on the stock commerce, whereas the communication
amongst the capitalist and their advisor, had an extremely important and an
adverse impact.
12. Geetha and Ramesh (2012) examined the connectedness of the demographic
aspects in investment selections in Tamil nadu (India) and appealed that the
demographic aspects had a bigger impact over a number of the assets call
components, whereas the irrelevant effect was initiated on another components.
13. Sahi et.al (2012) the study was conducted by considering numerous demographic,
psychographic, and socio-economic variables with a aim understand the
preferences of the investor's, employing an illustration of specific stockholders
i.e. N=377, CART Classification and Regression Tree procedure was used to
confirm whether or not psychographic variables are higher forecasters than the
socio-economic and demographic variables to understand a personal
stockholder's choices for the alternatives of investment. The outcomes showed
that the requirement for the money facility, the suppliers had to think about
certain psycho graphical variables at the side of demographic and socio-economic
variables, therefore on higher perceive and advise the money customers. This
may change the money service establishments to focus on their audience a lot of
sharply, therefore on develop acceptable promoting ways and to build the trust of
the investor. The study has further contributed to understand the behavior of the
capitalist.
14. Rahnuma Akhter and Sultan Ahmed
15. Rakesh.pet.al(2014)Surveyed the behavior that took risk and also considered
certain social economic features such as gender, age, occupation, income,
education, along with the marital status. They survey was carried in various
communities like memon, hindu, ismaili, delhi, chinioti, Sheikh, Sodagran Behari
etc. the method used was survey with the questionnaire for the collection of
primary data using the snowball sampling method. There were two hundred
respondents who contributed to the survey. The hypothesis was tested using chi-
square test applied in SPSS a software tool used for analysis. The outcomes
disclose that the income, age, marital status, qualifications and professional
employment is suggestively allied with the behaviour of taking the risk, whereas
there is no association of gender with the behavior of taking risk. Additionally ,it
is was also discovered that the behaviour of taking risk in other societies was not
significantly diverse.
16. Islamoglu. M et.al (2015)In their examination, researched the variables that
impact singular speculator conduct. The information utilized as a part of the
examination were gotten by means of study technique from financiers in Bartin.
Engaging investigation was led so as to abridge the experimental examination
comes about with numerical portrayal and factor investigation was done to gauge
the legitimacy and unwavering quality of the outlined study. Moreover, the
investigation with respect to speculation tests was executed by methods for
examination of minute structure. Because of the examination, it was
distinguished that six variables affected individual financial specialist conduct. It
was discovered that the most astounding relationship was between "cognizant
financial specialist conduct" and "managing an account and installment conduct."
Also, it was affirmed that 11 of the examination speculations were acknowledged
and that four of the exploration theories were won't. Inside this system, it was
inferred that there was a measurably huge connection between the elements
influencing singular speculators' venture practices.
Arun JethMalani, "Risky Business", The Economics Times, Daily, Vol. 39,
No. 119, July 1st, 1999, found that BSE sensitivity and national indices did not
follow random walk by using correlation analysis on monthly stock returns data
over the period January 1981 to December 1992.
Arun JethMalani, "Risky Business", The Economics Times, Daily, Vol. 39,
No. 119, July 1st, 1999, reviewed the existence and measurement of risk
involved in investing in corporate securities of shares and debentures. He
commended that risk is usually determined, based on the likely variance of
returns. It is more difficult to compare 80 risks within the same class of
investments. He thinks that the investors accept the risk measurement made by
the credit rating agencies, but it was questioned after the Asian crisis.
Historically, stocks have been considered the riskiest of financial instruments.
He revealed that the stocks have always outperformed bonds over the long term.
He also commented on the 'diversification theory' concluding that holding a small
number of non-correlated stocks can provide adequate risk reduction. A debt-
oriented portfolio may reduce short-term uncertainty, but will reduce long-term
returns. He argued that the 'safe debt-related investments' would never make an
investor rich. He also revealed that too many diversifications tend to reduce the
chances of big gains while doing little to reduce risk. Equity investing is risky if
the money will be needed a few months down the line. He concluded his article
by commenting that risk is not measurable or quantifiable. But the risk is
calculated based on historic volatility. Returns are proportional to the risks, and
investments should be based on the investors' ability to bear the risks, he advised.
Yoon S. Park (1999): “Characters and Measurement Indicators of
International Financial Integration in Developing Countries”. George
Washington University, Washington D.C. Feb 1999. emphasized the need for
risk management in the securities market with particular emphasis on price risk.
He commented that the securities market is a 'vicious animal' and there is more
than a fair chance that far from improving, the situation could deteriorate.
Juhi Ahuja (2012), “Indian Capital Market: An Overview with Its Growth” VSRD
International Journal of Business & Management Research Vol. 2 (7), presents a
review of the Indian Capital Market & its structure. In the last decade or so, it has
been observed that there has been a paradigm shift in the Indian capital market.
The application of many reforms & developments in the Indian capital market has
made the Indian capital market compared with the international capital markets.
Now, the market features a developed regulatory mechanism and a modern
market infrastructure with growing market capitalization, market liquidity, and
mobilization of resources. The emergence of the Private Corporate Debt market is
also a good innovation replacing the banking mode of corporate finance.
However, the market has witnessed its worst time with the recent global financial
crisis that originated from the US sub-prime mortgage market and spread over to
the entire world as a contagion. The capital market of India delivered a sluggish
performance
20 to 35 38 76
35 to 50 9 18
50 and above 3 6
SOURCE : PRIMARY DATA
Age group
6%
18% 20 to35
35 to50
50 and above
76%
As per above graph 76% respondents are between the age 20 to 35 years , 18%
respondents are above 35years and below 50years and only 6% respondents are
50 years and above.
4.2 Gender wise distribution of respondents
Gender Frequency %
Male 31 62
Female 19 38
SOURCE : PRIMARY DATA
70 62%
60
50
40 38%
31
30
19
20
10
0
Frequency %
Male Female
SOURCE : PRIMARY DATA
As per the above graph respondents those who are male are more than the
respondents who are female.Among all the respondents the frequency of
males is 62% and and female is 38%.
Occupation Frequency %
Business 12 24
Salaried 38 76
Senior Citizen 0 0
SOURCE : PRIMARY DATA
Occupation
Frequency %
76%
38
24%
12
0 0%
As Per The Above Graph Among All The Respondents The Salaried Person Are
More Than The Other Occupation People.among all The respondents 24%
respondents belong to business class and 76% respondents belong to salaried
class.
4.4 What kind of investment you have made so far?
Investment
s
4
03
20
01
00
Frequenc %
y
As Per the Graph Respondent Invest More in Saving A/C then in stock market,
then in insurance, in fixed deposit, mutual funds, gold, PPF and at last in Real
Estate Market
4.5 Do you invest in shares?
Frequency %
Yes 43 86
No 7 14
SOURCE : PRIMARY DATA
CHART : INVESTMENT IN SHARES BY THE RESPONDENTS
86%
90
80
70
60
43
50
40
30
14%
20 7
10
0
Frequency %
Yes No
As per the above graph respondent invest more in shares then in any other
investment. Among All the Respondents 86 % i.e. 43 Respondents Invest In
Shares Whereas 14 % i.e. 7 Respondents Don’t Invest In Shares.
40000-60000 7 14
More than 60000 17 34
SOURCE : PRIMARY DATA
TOTAL INVESTMENT ANNUALLY DONE BY THE RESPONDENTS
20%
34% Less than 15000
15000-40000
40000-60000
32% More than 60000
14%
As per the graph 34% respondent invest more than 60000 annually , 32 %
respondents invest 15000 to 40000, 20% invest less than 15000 and 14%
respondents invest between 40000 to 60000.
Purpose Frequency %
Total 85 100
SOURCE : PRIMARY DATA
CHART : PURPOSE OF INVESTMENT OF THE RESPONDENTS
Purpos
5 e
0
4
5
4
0
3
5
3
0
2
5
2 Frequenc
0 y%
1
5
1
05
0
To meet the To earn returns To generate To make
of
cost onidle specified
a sum provision
a
inflation resource of mone uncertain
for
y future
SOURCE : PRIMARY
DATA
Frequency %
25%-50% 13 28.26
51%-75% 5 10.87
Total 46 100
SOURCE : PRIMARY DATA
CHART : 8 INVESTMENT IN EQUITY MARKET OF THE RESPONDENTS
60
50
40
30 Frequency
20 %
10
0
Less than 25%25%-50% 51%-75% More than
75%
As per the graph out of total investment of respondent individually most of them
invest less than 25% of their total investment in shares. Then some respondents
invest about 25- 50% or 51- 75% of their total investment in shares.
Intraday 22 40
Delivery 33 60
Total 66 100
SOURCE : PRIMARY DATA
CHART : TYPES OF TRANSACTIONS OF THE RESPONDENTS
Transactions
60
50
40
Intraday
30
Delivery
20
10
0
Frequency %
As per the above graph the type of transaction mostly done is delivery than intra-
day. About 40 % respondents do transactions on intraday and 60% respondents
do transactions on delivery.
Frequency %
1 to 2 years 11 21.92
2 to 3 years 3 6.25
Total 48 100
SOURCE : PRIMARY DATA
CHART : TIME PERIOD OF THE RESPONDENTS INVESTED IN EQUITY
MARKET
40
35
30
25
20
15 Frequency
10 %
5
0
Less than 1 1 to 2 years 2 to 3 years More than 3
year years
As per the above graph most of the respondents invest for a period less than
1year. Some invest for a period of 1 to 2 years, some invest for a period of 2 to 3
years.
Frequency %
As per the above graph most of the respondents invest for high long term gain
than quick short term gain. About 66 % respondents invest for a high long term
gain and 34% respondents invest for quick short term gain.
Frequency %
Speculation 4 3.88
Dividend 20 23.39
Total 82 100
SOURCE : PRIMARY DATA
As per the above graph most of the respondents get attract as equity market give
higher returns. Some respondents are attracted to invest in equity market due
various reasons like dividend, liquidity of invested fund, company’s reputation
and speculation.
IT 28 21.1
Pharmacy 15 11.36
Telecom 5 1.79
Banking 25 18.94
Petroleum
6 3.55
Automobile
18 11.64
Entertainment
2 1.51
Engineering
9 6.82
Metals and Mining
Oil and Gas 6 3.54
Total 18 11.64
132 100
SOURCE : PRIMARY DATA
As per the above graph most of the respondents invest mostly in IT sector. Then
in banking, automobile, oil and gas, pharmacy , engineering , petroleum , metals
and mining.
4.14 What will be the future of equity market in India as per you?
Frequency %
Growing 37 74
Decline 0 0
Can’t say 13 26
SOURCE : PRIMARY DATA
CHART : FUTURE OF EQUITY MARKET IN INDIA
Frequency
Growing
, 37
Can’t say
, 13
As per the above graph most of the respondent’s future of equity market is
growing year by year. About 74% respondents think that equity market is going
to increase and 26% respondents don’t know whether it is going to increase or
not.
CHAPTER 5
CONCLUSION
Losses are inevitable. So a good risk management strategy can help us to limit these
losses on such positions & allows us to take the next opportunity in the market. We
have a lot of good trading/investment system in the world & there are also a lot of
good risk management strategies available. So why is it that most participants lose
their money in the market. Furthermore, why is it that despite knowing about the
various techniques & stop-losses, many lose in a big way? How can intelligent,
highly qualified& esteemed analyst be abysmal traders? Answer to all this question is
the luck which play a vital part in determining whether you win or lose in this trade.
It is possible, however to optimize your analysis & your trading system. But then,
over- optimization does not help since it improves a system by eliminating many
legitimate trading opportunities. Furthermore, each system is simply a result of
analyzing past data technical or fundamental. No one can predict the future perfectly.
There are two fundamental emotions that stand in the way of “Successful trading and
investing”
Many investors and traders fail to implement stop losses because it is painful and
ego deflating. It means an admission of being wrong. As a consequence, the loss
grows bigger in size and eventually destroys a large part of our capital.
Also remember price never moves in a straight line. So when the price fluctuates, so
does their profits along with it. There is strong desire to grab these profits
immediately while it is available. The golden rules of Trading and investment are:
Cut your losses short and let your profits run. But most of the traders and investors
end up doing- cut their profits short and let their losses run.
Rather than take a loss, people hold on and hope that things will turn around; that
would be profitable and therefore pleasurable. Along the same lines, people are quick
to take profits before it has a chance to turn around and cause pain.
Finally, I conclude that Market does not care whether investors make or lose
money. It has no conscience and never has to justify its action. Being right in the
market is not so great an achievement compared to accepting being wrong in the
market.
BIBLIOGRAPHY
Journals
Reference books:
1. http://shodhganga.inflibnet.ac.in/bitstream/10603/2027/7/07_chapter%20
2. http://www.indianmba.com/Faculty_Column/FC1063/fc1061.html
3. http://en.wikipedia.org/wiki/Bombay_Stock_Exchange
4. http://www.bseindia.com/
5. http://www.nseindia.com/
ANNEXURE
QUESTIONNAIRE
Name : -
Age :-
20-35
35-50
50 Above
- Saving a/c
- Fixed Deposit
- Mutual Funds
- Gold
- Stock /Equity Maerket
- Real Estate
- PPF
- Insurance
Yes No
If No, why don’t you invest in shares?
3) How much is your total investment annually?
- Less than 15000
- 15000 - 40,000
- 40,000 - 60,000
- More than 60,000
11) What will be the future of equity market in India as per you?
- Growing
- Decline
- Can’t say
-