A study on the impact of zero brokerage on Indian financial market

A Project Submitted to

HSNC University, Mumbai for partial

completion of the degree in Third year of

Bachelor in Accounting and Finance

Under the Faculty of Management

By

SUJAL JAIN

Roll No. 040

Under the Guidance of

CA Tanzila Khan

Kishinchand Chellaram College

D.W ROAD, CHURCHGATE, MUMBAI – 400020

March 2024

K.C.COLLEGE
 DECLARATION BY LEARNER

I the undersigned Mr. Sujal Jain from TYBAF 040 here by, declare that the work
embodied in this project work titled “Study of impact of zero brokerage on
Indian financial market”, forms my own contribution to the research work
carried out under the guidance of C.A Tanzila Khan is a result of my own
research work and has not been previously submitted to any other University for
any other Degree/ Diploma to this or any other University.

Wherever reference has been made to previous works of others, it has been
clearly indicated as such and included in the bibliography.

The learner has complied to the provisions of the UGC (Promotion of Academic
Integrity and Prevention of Plagiarism in Higher Educational Institutions)
Regulation 2018.

I, here by further declare that all information of this document has been obtained
and presented in accordance with academic rules and ethical conduct.

Sujal Jain

Name and Signature of the learner

Certified by

Name and Signature of the Guiding Teacher

CA Tanzila Khan

K.C.COLLEGE
 Kishinchand Chellaram College,

Dinshaw Wachha Road, Churchgate, Mumbai 400020

CERTIFICATE

This is to certify that Mr. Sujal Jain from TYBAF 040 has worked and duly completed
his Project work for the Degree of Bachelor of Commerce in Accounting and Finance
under the Faculty of Commerce and Management in the subject of Finance and his
Project is entitled, “Study of impact of zero brokerage on Indian financial market”
under my supervision. I further certify that the entire work has been done by the learner
under my guidance and that no part of it has been submitted previously for any degree or
diploma of any university. It is his own work and facts reported by his personal findings
and investigations.

Dr. Ritika Pathak Dr.Tejashree Shanbhag

Course coordinator I/C Principal

Signature of Guiding Teacher:

Signature of External Examiner:

Date of submission: Seal of the College

K.C.COLLEGE
 ACKNOWLEDGEMENT

To list all those who have helped me is difficult because they are so numerous and the depth is
so enormous.

I would like to acknowledge the following as being idealistic channels and fresh dimensions in
the completion of this project.

I take this opportunity to thank the HSNC University for giving me the chance to do this
project.

I would like to thank my I/C Principal, DR TEJASHREE SHANBHAG, for providing the
necessary facilities required for the completion of this project.

I take this opportunity to thank our Co-ordinator, DR.RITIKA PATHAK, for her moral
support and guidance.

I would also like to express my sincere gratitude towards my Project Guide, CA TANZILA
KHAN, whose guidance, and care made the project successful.

I would like to thank my College Library, for having provided various reference books and
magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped me in the
completion of the project especially my Parents, Family, Friends, and Peers who supported
me throughout my project.

K.C.COLLEGE
 TABLE OF CONTENT

Sr no Contents Page
no.

EXECUTIVE SUMMARY 1

1. CHAPTER 1: INTRODUCTION 2

2. CHAPTER 2: INDIAN FINANCIAL MARKET 3

2.1: History of Indian financial market 7

2.2: Working of Indian financial market 10

2.3: The different types of instruments available in 11

IFM
12
2.4: Significance of Indian financial market
15
2.5: Participants of Indian financial market

3. CHAPTER 3: BROKERAGE 21

3.1: Types of brokerage service 22

3.2: Types of brokerage market 24

3.3: Factors influencing brokerage 26

3.4: broker 27

3.5: Execution and order type of broker 28

3.6 Zeo brokerage 30
3.7: Key aspects of zero brokerage
31
3.8: Advantages of zero brokerage
32
3.9: Implication and consideration of zero
brokerage 33

3.10: Choosing the right zero brokerage trading account 34

3.11: application that provide brokerage service 35

K.C.COLLEGE
 3.12: Positive impact of zero brokerage on IFM 43

3.13: Negative impact of zero brokerage on IFM 46

4. CHAPTER 4: REVIEW OF LITERATURE 48

5. CHAPTER 5: RESEARCH METHODOLOGY: 51

5.1: Research Objectives 52

5.2: Hypotheses 53

5.3: Research Design 54

5.4: Sampling Design 55

5.5: Sources of Data 56

5.6: Assumptions 57
5.7: Limitations
57

6. CHAPTER 6: DATA ANALYSIS, 58

INTERPRETATION AND FINDINGS:

7. CHAPTER 7: SUGGESTIONS AND 74

CONCLUSION

8. BIBLIOGRAPHY 76

9. ANNEXTURE 77

K.C.COLLEGE