Indian Stock Market News and Analysis

ZeeNutji, you might not like my answer…..But, ICICI takes care of all=20 of these things, and works almost flawlessly for me. If there are any=20 issues, they are only for a few instances when there are too many people=20 on their servers. Those times, the login process is a bit slow, but it=20 is never the case where I cannot get in (hence minor in the big picture).=20
Their charges are high, but the BEST is always the BEST, and has a=20 premium associated with it. I attribute one stock profit to pay for use=20 of ICICI, and not worry about commissions. Taxes are a bigger issue to=20 worry about, but the biggest thing that worries me is LOSS IN PROFITS=20 when the markets go down. Hence, I manage my money based on stock and=20 market timing, and commissions and taxes take care of itself!!!!!
KKP
Bosco Menezes wrote: > > I do my trades through my broker & my HDFC Securities online trading=20 > account. > > =20 > > But i find that the online platform provided by HDFC is quite=20 > rudimentary & places it’s users at a disadvantage vis-a-vis others. > > =20 > > The issues that I am facing with HDFC Securities on-line trading=20 > account are as follows : > > (a) Not being able to see the best 5 buy/sell quotes & not being able=20 > to see the total buy / total sell quantity for various scrips on BSE=20 > (particularly non-index scrips like Magma Leasing, Saboo Sodium etc),=20 > which is crucial information for making any buy/sell decision. See=20 > attached screenshot & see the table on the left showing Magma Leasing=20 > quotes on BSE - only best buy & sell is shown, and note that no total=20 > buy/sell qty is shown. > > =20 > > I had complained about this earlier to HDFCSec, in response to which=20 > they had replied that “for certain scrips, the broadcast from BSE was=20 > limited to the first best buy/sell rate”. > > =20 > > However i find that for the same scrips where HDFCSec is unable to=20 > provide these best 5 BSE quotes in the online trading suite, other=20 > online trading service providers are able to do so !! > > =20 > > I got the proof of this in the form of screenshot’s from a friend who=20 > was using Geojit’s platform & I have complained again to HDFC=20 > Securities, attaching the screenshots. > > =20 > > Obviously a user of HDFC Securities online platform is put at a=20 > substantial disadvantage vis-=E0-vis most other investors & for all=20 > that, he actually pays a higher brokerage !!=20 > > =20 > > (b) Lack of a single screen “MarketWatch” option to track multiple=20 > scrips. One can only see the information of one scrip at a time, that=20 > too in the quotes screen. > > =20 > > I had complained about this too earlier to HDFCSec, in response to=20 > which they had replied that the same was “under development stage” &=20 > that they would keep me informed as & when it was implemented. > > =20 > > Almost 9 months have passed since, and i still do not see the same in=20 > my options, nor has HDFCSec updated me on anything. > > =20 > > I have noticed that most other online trading platforms like MOST,=20 > Geogit etc provide this sort of a screen . I have once again=20 > complained to HDFC Securities, attaching a screenshot of the screen in=20 > Geojit & asking for an explanation. > > =20 > > (c) For NSE quotes, i find that the refresh is often delayed (even=20 > inspite of clearing cache etc) - not sure if it is only for non-index=20 > scrips or what, as my universe of stocks are the mid/small-caps. For=20 > example i may see a best buy for 100 shares of “A” at (say) 200 bucks=20 > & my Sell order is pending at 205 bucks, but when i change my order &=20 > try to sell the same at 200, it often does not executed, the order is=20 > visible as pending in my order book at 200 bucks, but the quotes=20 > screen still shows a best buy of 200 bucks & my earlier ask at 205=20 > bucks. After a minute or so of constant refreshes, suddenly the screen=20 > refreshes & i find the best buy is now (say) 199 & my sell is at 200.=20 > Obviously i could have sold at 195 if my screen had only shown me the=20 > correct information in real time. This problem often causes me to miss=20 > out on execution of my trades at optimum rates, because of the time lost. > > =20 > > Luckily i do most of my trading on BSE, where i have not noticed this=20 > issue thus far. I had intimated my HDFCSec RM about this but nothing=20 > was done about that either, in any case I have not traded much on NSE=20 > in the last few months. > > =20 > > (d) In addition, i have the usual problem of non-receipt of bills -=20 > the bills are often returned by the courier if no one is at home -=20 > they say that they are not authorised by HDFC to “drop” the same in=20 > the house - this would surely cause a lot of problems for working=20 > couples - in my case this has become less problematic now that i am at=20 > home most of the time, but it still happens. The bills can be printed=20 > from the website also, though. > > =20 > > However, there ARE a couple of good points regarding the account which=20 > i must also reproduce, to be even-handed :=20 > > 1. Seamless Integration b/w the trading account & the bank/demat=20 > accounts. So if one buys or sells shares, the transaction happens very=20 > smoothly - _there is no need to put a HOLD on the money or the shares=20 > well in advance _. Just an extra pop-up comes up when you place the=20 > order to do the hold, which only involves an extra button-click, and=20 > hence no extra time is wasted. This is very helpful if one wants to=20 > act on news & hence needs to put in a trade in seconds. Once the trade=20 > is done, the shares are either debited/credited to the demat account &=20 > likewise the money is either credited/debited to the bank account on=20 > the afternoon/evening of the T+2 settlement date, automatically. > > 2. The moment one does a buy or sell, one is allowed to do=20 > the reverse in part or in full anytime thereafter, not just on the=20 > same day. If one has bought some shares, one can sell the same on the=20 > same day, the next day or even on the settlement day, without the=20 > shares having beem credited to the account - how HDFCSec handles a=20 > short delivery in such a case i am not sure. Similarly, if one has=20 > sold some shares, one can buy shares of an equivalent value=20 > immediately & anytime thereafter, even before the funds are credited=20 > to the bank account. > > =20 > > I would request members who are users of HDFC Securities to let me=20 > know if they too have complained regarding the above, if so give me=20 > the complaint numbers so that i can consolidate & take up the issue=20 > with them. > > =20 > > I would especially request members (non HDFCSec users) to let me know=20 > regarding the following points with respect to the online trading=20 > platforms being used by them (please mention which platform you are=20 > using) : > > i. Integration b/w the trading account & the bank/demat accounts - how=20 > seamless is the integration - does it work the way I have described=20 > above in pt 1 above ? > > ii. Can you sell/buy shares immediately after you have bought/sold the=20 > same, and can you do so any day thereafter, even before the settlement=20 > happens (sort of BTST) , as described by me in pt 2 above ? > > iii. Does your platform show you best 5 buy & sell orders on BSE even=20 > for smaller scrips like Magma Leasing, Saboo Sodium etc ? And Total=20 > Buy/Sell Qty too, in all cases ? > > iv. Does your platform allow you to buy Z-group shares that are in demat ? > > v. What is the delivery brokerage charged to you ? > > =20 > > I look forward to receiving your replies to my above queries, and any=20 > additional information regarding good/bad points about your respective=20 > online trading platforms. > > =20 > > Regds, > > =20 > > ZeeNut > > > > > > ———————————————————————— >