Employed urban youth have increasingly taken to stock investment through online trading in the last couple of years.
Delhi ranked first in online share trading followed by Mumbai, Bangalore, Chandigarh, Kolkata, Ahemdabad and Dehradun, an Assocham survey said.
The survey found that majority of young investors (64 per cent) like to trade in futures and options (F&O). There has been a sharp rise in online share trading among the young investors (over 72 per cent) in the last 2 years as a source of additional income.
Easy availability of gadgets, use of technology and access to analyst information were behind the trend, the survey found out.
It revealed that the online share trade industry is growing by 150 per cent year-on-year. “The value of all trades executed through the Internet has grown more than 10 times in two years”, the trade body said.
Major metropolitan cities in which respondents were interviewed include Delhi-NCR, Mumbai, Ahemdabad, Cochin, Bangalore, Hyderabad, Indore, Patna, Pune, Chandigarh and Dehradun.
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 cities and town in 60 days. A little over 200 employed persons were selected from each city for opinion sampling.
Some 85 per cent of the respondents said that youngsters looking toward improvement of his or her income levels found online trading is the most profitable business, the survey revealed. The survey further found out that young respondents were analytical, quickly reactive to the changing market scenario.
Majority of the respondents involved in internet trading belonged to the age group of 18 to 23 years. Only 8 per cent in the age group of 36 to 41 years and above were found to be net trading enthusiasts.
Of the survey 2,500 respondents, 62 per cent were male. Some 32 per cent were working in private sector organisations and 16 were engaged in their own business, 20 per cent were Government employees and 12 per cent were professionals.