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Kayanush Sharma, 26,
like many Indians his age, has dreams: To own a house, get married
and find the proverbial pot of gold. But working at a junior level
in a Mumbai-based company does not help matters much.
Yet some of his friends seem to be
making money -- on the stock markets. They talk about the stock
markets being in the 'bull phase.'
Maybe this is the time to step in and
make some more money.But where does he start? Does he call up his
friend's broker/sub-broker or simply log on to the Net?
How much information and records will
he have to maintain besides his personal tax papers? And who will
guide him on making the right investments?
Life is not easy in the complex world
of trading in securities, but help is at hand |
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There are
two basic ways to trade in shares listed on the Indian stock
markets:
- Through a broker/sub-broker.
- Online: Through an Internet site,
where bank and demat (explained later) accounts are electronically
integrated. Many banks offer this facility: ICICI Bank, HDFC Bank,
etc.
Choosing a stockbroker
So you plan to buy
stocks through a stockbroker, is it?
This often becomes the biggest hurdle
for a first-time investor. Retail investors in smaller cities and
towns have suffered at the hands of dubious brokers and sub-brokers.
Over the past decade, with the
strengthening of guidelines by the Securities and Exchange Board of
India (the main regulator for the Indian financial markets), it is
difficult for the broker to vanish from the scene or commit
fraud.Being a registered member of the stock exchange, the broker
carries out 'buy' and 'sell' transactions on behalf of his client
(the investor) and charges a small fee. |
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