Bangalore, Oct 9, 2020 – India’s fastest-growing investment platform – Groww has launched Intraday Trading and ETFs , expanding their product suite. With the launch of these products that cater to two diverse niches within the investing spectrum, Groww 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.
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% 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”.
Groww also plans to follow this launch with a series of learning modules aimed at educating its investors about the intricacies of intra-day trading and ETFs. 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, thereby becoming one of the fastest-growing discount brokers in the country. Currently in invite-only mode, customers would soon be able to invest in US equities on Groww app as well.