Stock trading trending among youths in city

A new wave of young investors emerged during the Covid-19, thanks to low-fee mobile trading apps

VAIBHAV PARWAT

Aurangabad, Jan 18:

The stock market has been booming due to various policies and factors implemented by the Central government. Hence along with regular investors many youths have also jumped into trading in the stock market from the city.

Experts said that as Covid-19 forced the majority of people to work from home, thus investing in stocks picked up in a big way. Technology has made share market trading easy and at one’s fingertips is one reason why many youths now find it convenient to invest in stocks. New-age firms like Zerodha, Upstox, Paytm and even the traditional full service broking firms have invested a lot in technology, which has made it easy to open a trading account, and buy and sell shares in minutes using a smartphone. Naresh Solanki of Seema Capital Investments said, "As interest rates fall and with the advent of technology, investing in stock markets has taken off in younger investors. Low-cost trading, deeper penetration of smartphones, faster internet, and simplification of trading applications has made it possible for an increasing percentage of people across age groups to trade with ease. More than 80 per cent of my customer base is between the age of 18 and 36, and over 70 per cent are first-time investors,” said Solanki.

Start small to avoid risk

Many youths who jump into the stock market without knowledge are sure to take a set back. First time traders can start very small, dip their toes into the market and learn from very small mistakes on how to properly build their wealth. They can invest more money when they get the full knowledge, said CA Dilip Jain.

Spending time watching stock figures

Many youngsters are now watching stock market updates on laptops and mobiles instead of spending time watching sports or entertainment channels. I started trading in the stock market for the last one and a half years. My experience is that if you take shares of a reputed company and hold on to it for a long time, you will make profit, said Saurabh Bothra, a young investor.

What has encouraged youths

The ease of opening trading accounts, seamless mobile platforms, apps and all availability of the internet is encouraging young investors to dabble into stock trading.