Use of handsets for trading in stocks has gained popularity as about 1.30 lakh investors transacted on leading bourse NSE through mobile applications in the first quarter of 2014-15 — more than double in the same period of last fiscal.
Around 50,000 investors had used the mobile trading application provided by the National Stock Exchange in the April-June quarter of 2013-14, as per the NSE data.
Besides, the number of investors who traded via NSE’s mobile trading application stood at 80,000 clients in the last quarter (January-March) of 2013-14.
Further, the daily average turnover (cash segment and F&O segment) from mobile trading significantly rose from Rs 319 crore in April 2012 to Rs 3,001 crore in June this year on the exchange, the data showed.
Meanwhile, close to 9 lakh investors traded in stocks on the NSE through the Internet in first quarter of 2014-15, an increase of about 22 per cent from the last quarter of the previous financial year.
The NSE mobile trading applications allows investors to trade in the cash, derivatives or currency market through their mobile phones, while travelling anywhere in the country or abroad. Trades are facilitated through the exchange’s registered brokers.
The application can be used on smartphones as well as any device with GPRS (General Packet Radio Service).