ICICIdirect launches equity SIP

ICICIdirect.Com, the online retail broking arm of ICICI Securities, has launched Equity SIP (Systematic Investment Plan).

Equity SIP is first-of-its-kind comprehensive facility in India that will provide an opportunity for retail customers to invest systematically and in a disciplined manner in specified stocks and ETFs (Exchange Traded Funds), ICICIDirect said in a statement.

ICICIdirect customers can purchase a specified stock/ETF at regular intervals over a period of time.

"Though there is an appetite for equity investments in India, timing the market brings an element of speculation and thus many potential investors hesitate from making a fundamental investment," ICICI Securities Head of Equity Vishal Gulechha said.