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These exchange do not work of its own, rather, these are r un bysome persons and with thehelp of some

persons and institution. All these are down as f unctionar ies on stock exchange.These are:i. Stockbrokersii. Sub-brokeriii. Market makersi v. Portfolio consultants etc.1. Stockbrokers:Stock brokers are themembers of st ock exchanges. These are the personswho buy, sell or deal in securities. A certi ficate of registration from SEBI ismandator yto act asa broker.SEBI can im pose certain conditions while granting the certificate of registrations. It iso bliga tor yfor the person to a bide bythe r ules, regulations and the buy-law.Stock b rokers arecommission broker, floor broker, ar bitrageur etc.Detail of Register ed BrokersTotal no. of registered brokers as on31.03.09Total no. of sub-broker a s on 31.03.099000 24,000 ANALYSIS OF INVESTMENT: Investment is the activity, which is made with the objec tive of earning some sort of positive returns in the future. It is the commitmen t of the funds to earn future returns and it involves sacrificing the present in vestment for the future return. Every person makes the investment so that the fu nds he has increases as keeping cash with himself is not going to help as it wil l not generate any returns and also with the passage of time the time value of t he money will come down. As the inflation will rise the purchasing power of the money will come down and this will result that the investor who does not invest will become more poor as he will not have any funds whose value have been increa sed. Thus every person whether he is a businessman or a common man will make the investment with the objective of getting future returns. TYPES OF INVESTMENT:- There are basically three types of investments from which the investors can choose. The three kinds of investment have their own risk and return profile and investor will decide to invest taking into account his own ri sk appetite. The main types of investments are: Economic investments:- These investments refer to the net addition to the capita l stock of the society. The capital stock of the society refers to the investmen ts made in plant, building, land and machinery which are used for the further pr oduction of the goods. This type of investments are very important for the devel opment of the economy because if the investment are not made in the plant and ma chinery the industrial production will come down and which will bring down the o verall growth of the economy. Financial Investments:- This type of investments refers to the investments made in the marketable securities which are of tradable nature. It includes the share s, debentures, bonds and units of the mutual funds and any other securities whic h is covered under the ambit of the Securities Contract Regulations Act definiti on of the word security. The investments made in the capital market instruments are of vital important for the country economic growth as the stock market index is called as the barometer of the economy. General Investments:- These investments refer to the investments made by the com mon investor in his own small assets like the television, car, house, motor cycl e. These types of investments are termed as the household investments. Such type s of investment are important for the domestic economy of the country. When the demand in the domestic economy boost the over all productions and the manufactur ing in the industrial sectors also goes up and this causes rise in the employmen t activity and thus boost up the GDP growth rate of the country. The organizatio ns like the Central Statistical Organization (CSO) regularly takes the study of the investments made in the household sector which shows that the level of consu mptions in the domestic markets.

2. Sub-broker:A sub- broker acts as agent of stock broker. He is not amember of a stock exchange. He assists the investors in buying, selling or dealing in sec urities through stock broker.The broker and sub- broker should enter into an ag reement in which o bligations of both should bespecified.Sub- broker must be re gisteredSEBI for a dealing in securities. For getting registeredwithSEBI, hemust f ulfill certain r ules and regulation 3. Market Makers: Marketmaker is a designated specialist in the specified securi ties. They make both bid and offer at the same time. Amarketmaker has to a bide by bye-laws, r ulesregulations of the concerned stock exchange. He is exem pt f romthemargin requirements. As per the listing requirements, a com panywhere the paid-u p capital is Rs. 3 Crore but notmore thanRs. 5 core and having a commerci al operation for less than 2years should appoint amarket maker at the time of issue of securities 4. Portfolio Consultants:A combination of securities such as stocks, bonds andmo ney market instr uments is collectivelycalled as portfolio. Whereas the portfoli o consultants are the persons, fir ms or com panies who advise, direct or undert ake themanagement or administrationof securities or f unds on behalf of their clients.Traditionallystock trading is done through stock brokers, personallyor through telephones.As number of people trading in stock market increase enor mou slyin last fewyears, someissues like location constrains, busyphone lines,miss c ommunication etc start growing in stock broker offices. Infor mation technology (Stock MarketSoftware) helps stock brokers in solvingthese pro blems with Onlin eStock Trading.OnlineStock Market Trading is an internet based stock trading fac ility. Investor can tradeshares through a we bsite without any manual interventi on from Stock Broker characteristics of investment: Certain features characterize all investments. The following are the main charac teristics features if investments: 1.Return:- All investments are characterized by the expectation of a return. In fact, investments are made with the primary objective of deriving a return. The return may be received in the form of yield plus capital appreciation. The diff erence between the sale price & the purchase price is capital appreciation. The dividend or interest received from the investment is the yield. Different types of investments promise different rates of return. The return from an investment depends upon the nature of investment, the maturity period & a host of other fac tors. 2.Risk: - Risk is inherent in any investment. The risk may relate to loss of cap ital, delay in repayment of capital, nonpayment of interest, or variability of r eturns. While some investments like government securities & bank deposits are al most risk less, others are more risky. The risk of an investment depends on the following factors. 0 The longer the maturity period, the longer is the risk. 1 The lower the credit worthiness of the borrower, the higher is the risk. The risk varies with the na ture of investment. Investments in ownership securities like equity share carry higher risk compared to investments in debt instrument like debentures & bonds. Each research studyhas its own specific purpose. It is like to discover to Quest ion throughthe application of scientific procedure. But themain aimof our resear

ch to find out the tr uth thatis hidden and which has not been discovered asyet. Our research studyhas two o b jectives

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