Online share trading is on the rise among young investors: Assocham Survey
There has been a steep rise of over 72% in online share trading among the young investors in the last two years as a source of additional income due to easy availability of gadgets, use of technology and access to analyst information, reveals a survey by industry body Assocham.
Major metropolitan cities in which respondents were interviewed include Delhi-NCR, Mumbai, Ahemdabad, Cochin, Bangalore, Hyderabad, Indore, Patna, Pune, Chandigarh
and Dehradun and it was observed that there has been a steep rise in the use of online share trading with the upcoming technology platform for continuous trading.
Assocham used random data to choose investors representing various age groups, occupation, gender, marital status and annual income range. The survey was done by visiting 10 different places in a time span of 60 days.
A little over 200 employees were selected from each city on an average. Delhi
ranks first in online share trading followed by Mumbai
(5th), Ahemdabad (6th) and Dehradun (7th), says the survey.
“Online share trading has become a major fascination by large number of young energetic and intelligent population mostly professionals or unprofessional and employed or unemployed”, adds D S Rawat, Secretary General ASSOCHAM in a statement.
“Stock trading is the new age thrive, every youngsters are looking toward to improve the income levels. Online trading is the most profitable business, which just requires knowledge of the trading concept”, added 85% of the respondents.
The survey further reveals that young generation is very analytical, quick and responsive to the every changing market scenario.
Nearly, 32% of the people are doing jobs in private organizations and only 16% are having their own business. Whereas, 20% people are government employees and only 12% are professionals. Over 56% people are unmarried and 44% are married in the collected sample.
In the poll 36% people have an annual income range of 0 to 4 Lakhs. And 32% people have income between 5 to 8 Lakhs. Similarly, 16 % and 8 % people have an income range of 9 to 12 Lakhs and 13 to 15 Lakhs respectively, highlights the survey.
In the survey, it was found that the majority of young investors (64%) like to trade in futures and options (F&O), and it shows there is a need to create awareness among investors regarding profitability of investment in futures and options, adds the survey.