rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Share trading enters Srinagar!

Share trading enters Srinagar!

April 15, 2005 17:18 IST

Share trading, which was alien to the people of Jammu and Kashmir till two years ago has now entered Srinagar. People are now taking interest in trading in shares and making profits.

With the changing times, more avenues are open to earn money. Those who previously invested in properties, in the business of handicrafts, have now started playing in shares.

The share brokers in the city not only deal in shares but also provide information to the people about the benefits   and limitations of investing in shares. Besides, with the help of information technology, people of the valley can now access the desired information on share markets just sitting at home.

"Our institution is affiliated to National Stock Exchange and Bombay Stock Exchange, and here we trade in equity shares of the top companies of the country. Our turnover is about Rs 65 lakh (Rs 6.5 million) to Rs 1 crore (Rs 10 million) per day," said Naseem Ahmed, a stockbroker.

 "Share market basically provides a platform to channelise investable surplus. When the financial products that come with the share market get channelised, they bring better returns and create jobs," said Riyaz, another share broker. "Share market provides large scope for earnings. We started just six months ago and our turnover is good. I am expecting a turnover of Rs 10 crores," he added.

The share market has also created job opportunities in the valley.  Interestingly, girls who are computer literate and possess knowledge of software have entered the market. They are now supplementing the earnings of their families.

"Now that these companies have come here, my husband and I are very satisfied. Share market is providing jobs to many and the level of unemployment is going down," said Shabana, an employee in a share- brokering company.

The Valley may be cut off for days due to adverse weather, but the information technology revolution has helped people to keep in touch with the outside world, be fruitfully occupied and conduct business in shares.
Source: ANI