Indians are more interested in social networking sites than stock markets, says a study.
According to a study by SMC Capitals, there are about 3.1 crore active users on social networking sites such as Facebook, Orkut and Twitter across the country, whereas the number of Demat account holders is just 1.7 crore.
In other words, the number of total social networking site users is twice that of the total Demat account holders, SMC Capitals equity head Jagannadham Thunuguntla said.
Demat accounts are mandatory for investors to trade in stocks in the country.
“It is incredible, considering the fact that the social networking concept became popular only in the last three years,” he said.
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