Retail Investors Must Boost Markets: Sinha

The retail investor must provide the much needed buoyancy to the stock markets through wealth creation. This will make the industry and the economy flourish, said finance minister Yashwant Sinha.

Despite the volatility in the stock market, the markets are safe and there is a strong regulator, so the common man has nothing to fear of said the minister here on Friday while launching an investment portal, Indiabulls.com.

The minister formally launched the e-broking portal by making the first transaction at the National Stock Exchange by purchasing one share of Reliance Industries at Rs 313.

"The sentiment in the market is improving. We have to draw the common people into it to add to the prosperity," he said.

 

While speaking at the occasion, Dewang Mehta, president, Nasscom said that the stock market is very soon going to touch the 6,000 mark. "The industry is going to see a growth of 65-70 per cent this year and the bulls are going to tale over," Mehta said. India has joined 12 other countries in the world to have cyber laws in place.

The portal has entered into a strategic alliance with UTI Bank Ltd. to offer service for all the clients of Indiabulls.com to have accounts maintained with the bank. The direct connectivity between UTI Bank and the website will enable a registered client to access the bank and demat accounts on-line.

The transaction engine for the portal has been designed by Tata Consultancy Services using the Secure Socket Layer technology.

The markets section of the portal focuses on financial information and current events with a direct feed from Reuters. Also, it has strategic partnerships with Asian CERC, Matrix, Emerging Markets and India Abroad.

The portal also provides an interface with Metastock, a tool for technical analysis that lets one study stock price movements.