Free Intraday Trading (FIT) By Kotak Securities
May 18, 2018 Leave a comment
The Indian stock markets comprise of 50-60 lac active traders/investors, some 20% of whom are self-directed traders who don’t use the services of dealers to buy and sell. Moreover, day by day, self-directed traders are increasing in the stock markets and intraday trading is a substantial part of their trading. In FY17 the self-trading segment grew from 21% to 29%.And brokerage cost per trade is the most important consideration in short term trading.
A while back, the full services, Kotak Securities came up with the Happy Day scheme, which is zero brokerage day once a week for all customers. This gave the company a spike in market share. Intraday average volumes went by 1.96 times ,of which self-trading volume went up by 1.24 times. Also from a regular day market share in cash segment of 4% their happy day market share rose to 6.16%. Given, the success of this scheme, and the fact that market surveys show that a third of the active traders currently in the stock market would like to switch brokers and their new choice of broker is most largely influenced by brokerage costs, Kotak Securities has now launched a new scheme called Free Intraday Trading (FIT). Read more of this post
Kenneth Andrade holds that India is transiting from a high to low interest rate economy.
Kenneth Andrade has a hunch that the banking cycle recovery will be prolonged this time, compared to the previous two cycles.
Kenneth makes no bones about stating that Indian Infrastructure is really over-invested in. There is really not much money to be made by an equity investor in this space.
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