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Smartphone users seem to have taken to mobile-based trading on the National stock exchange (NSE) as fish to water.
From a daily average turnover of ₹1.66 crore in 2010, mobile based trading in the NSE has zoomed to daily average turnover of ₹1,780 crore so far in calendar year 2014.
Though this is only a small fraction of the total volume of trades in both the cash and F&O segments put through the country’s largest bourse, it still shows how retail investors increasingly prefer to place orders through their mobiles.
Thus, instead of making calls to their brokers or use internet platforms, the investors can put through transactions via Apps downloaded on to their mobiles. The Apps that facilitate such trades are designed and provided by the brokers themselves.
“Penetration of smartphones is that much higher. We expect more things to happen and lot of activity in this space. We see huge potential in mobile-based trading”, said Ravi Varanasi, Chief - Business Development, NSE.
Although trade values are up in mobile-based trading, some brokers are still sceptical about building the mobile applications channel, given the upfront cost on these Apps.
Mobile-based trading is more of a retail play and very few institutional investors are going to adopt it for their trades, a capital market observer said.
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