Becoming a millionaire overnight is a general tendency of every entrant in the stock market domain which reflects the stereotype mindset, a harsh reality that needs to be changed. To build a wealthy nation, there is a need to make students wealthy who can directly influence the stock market performance. However, the scenario is not as motivating as it should be because stock market myths impending students from building wealth.
Ignorance is a jinx
When it comes to participation in the stock market, people’s reactions are reflections of the misconceptions going on in society. Instead of gaining relevant and focused knowledge, the majority is inclined to tag trading or investment in the stock markets as gambling. Parents and friends discourage aspiring investors by saying, “It’s not our cup of tea”, “This practice suits only to rich and business class people who jumps into stocks to multiply their surplus money”. Even some call it a bad addiction. Until recently, youth were distracted to make a full-time career in stock market. Thanks to digital technology for busting these myths and familiarizing the youth with the clear picture and scenario of this highly dynamic domain.
Technology is transformational
In the last two years, the country has witnessed record growth in new Demat accounts, an index to check people’s growing interest in stock markets. From 3.6 crore in March 2019, the figure jumped to 7.7 crore in November. And, more than 75 per cent of these new account holders were under-30 investors. Technology is connecting youth to stock market and making trading easier as well as more profitable. Since a lot depends on accessibility, trading apps are playing a pivotal role in this regard.
Need for financial literacy
Students are the architects of tomorrow’s India. They are future representatives as well as leaders and for their better contributions to society, students must be financially independent in addition to a knowledge-driven career path. Hence, stock trading and investment need to be in healthy shape. They must be educated about the functional and technical aspects of various operations and earning opportunities in the stock market.
Now, the Government of India is also taking interest in this field. While presenting the Union Budget 2022, the finance minister has clearly mentioned that to improve financial literacy in India, various vocational programmes will be introduced soon. While the country’s burgeoning edtech sector has already provided both …….