Attracted by the ease of transaction and ever-increased access to information offered by gadgets, more and more young people are taking to online share trading.
A nationwide survey by industry body Assocham, covering 2,500 respondents from eleven centres across the country, showed a 72 per cent rise in online share trading among young investors in the past two years.
The survey found majority of young investors (64 per cent) liked to trade in futures and options.
Assocham said the online share trade business was growing by 150 per cent year-on-year, with the value of all trades executed through the internet growing more than 10 times in two years.
Major cities where respondents were interviewed include Delhi-NCR, Mumbai, Ahmadabad, 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 over 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, Bangalore, Chandigarh, Kolkata, Ahemdabad and Dehradun, the survey found.
"Online share trading has become a major fascination by large number of young energetic and intelligent population mostly professionals", said DS Rawat, Secretary General ASSOCHAM in a statement here.
Online trading is a profitable endeavour, which just requires knowledge of the trading concept, according 85 per cent of the respondents.
The survey further reveals that young generation is very analytical, quick and responsive to the every changing market scenario. Majority of the respondents doing internet trading belong to the age group of 18 to 23 years followed 24 to 29 years. Similarly, people belong to 30 to 35 age groups. Whereas, 8 per cent people are each from the age group of 36 to 41 years and above 42 years age. Out of 2,500 respondents, 62 per cent were male.
Over 64 per cent of the respondents were from income group earning over Rs 4 lakh per annum.