Groww -- an investment platform has launched intraday trading and ETFs , expanding its product suite.
With the launch of these products that cater to two diverse niches within the investing spectrum, Groww says it aims to provide a gamut of investment options to millennial investors with varied investment objectives.
With intraday trading now enabled on 350 + stocks and select ETFs on Groww, investors can short sell, place a stop-loss order, and track price movements through candlestick charts, within just a few clicks, Goww said in a statement.
On the other hand, ETFs as an asset class can be explored by users who are inclined towards passive investment instruments. With Groww, investors can check all information related to ETFs such as expense ratio, fund manager details, scheme objectives as well as track the live price of the underlying securities on-the-go.
Groww has launched Intraday trading at a time when stock trading is gaining unprecedented popularity amongst Indians, especially young millennials. CDSL reported that the number of demat accounts with CDSL crossed 25 million last month, registering a 25 percent increase as against the pre-lockdown numbers. Moreover, since March, mobile trades have more than tripled in September, according to BSE’s trading data.
Speaking on the launch, Lalit Keshre, Co-founder and CEO - Groww said, “The launch of intraday trading and ETFs on our platform is in line with our promise to provide our customers with all kinds of investment options on a single platform. We already have all the direct mutual funds and gold available on the platform. In the days to come, we will keep adding more features to provide an all-encompassing investing experience”.
The company launched stocks investing on its platform in June 2020 and has recorded more than 4.5 lakh demat accounts within a short span, Groww said.
First Published: IST