Mahabubnagar: Stock market trading fast catching up among youth in tier 2, 3 cities

Mahabubnagar: When the entire world has come to a standstill with cutting jobs, falling businesses and crumbling economies during the lockdown imposed due to Covid-19 outbreak, here is a youth Md Jamil from Mahabubnagar district, who made fortune in the stock market trading and emerged successful.

Citing statistics from Zeroda Stock Brokerage firm, Jamil observed that people particularly youth in the age group of 25-35 years from tier-2 and tier-3 cities are more attracted towards stock markets and opening demat accounts for trading in the Indian equity markets.

While speaking to The Hans India, Jamil said that more than real estate and gold markets, stock markets have performed very well during the past five years. Moreover, during lockdown when all the leading company shares came down crashing due to corona pandemic, many youth from tier-2 and 3 cities showed interest to buy those shares as they forecasted better growth ahead in future which would earn them good fortunes, he stated.

Giving his own example, Jamil said from a Mechanical Engineer, who earlier worked as a well-paid engineer in ARAMCO, now he turned as a successful proprietary trader. "Youth from small towns and tier-2 cities are now venturing out to taste the fruits of stock markets.

Thanks to the lockdown, majority youth are making use of the free time available and utilizing the opportunities of ease of transactions and work from home options," he opined. It is learnt that more than 12 lakh new investors opened demant accounts with the central depository services (CDSL) alone in March and April, peak months of lockdown.

This is a record jump in the new accounts compared to just 42 lakh demat accounts opened during 11 months period from April 2019-February 2020.