How to Buy Your First Stock with Groww App in 2022

 

Investing in stocks has been a great way for long term wealth creation even before the age of internet. Now, with the advancement of technology and innovation we can buy and sell stocks with just a click of button.

Ever since the Corona Virus pandemic, people have started reading about stock market and have opened their first Demat account during last 2 years and yet you might be surprised to know that only about 4% of Indian population invest in stock market compared to 13% in China and 58% in United States of America.

So, it is very important to investment with long term goal in mind based on your risk appetite.

Before making first investment you need to following things in Place:

1)  PAN Card

As per government mandate, every individual needs to furnish PAN to execute financial transaction in India, i.e you will not be able to buy shares online if you do not have a PAN card.

2) Open DEMAT and Trading account with Groww

If you want to Buy/Sell stocks online, you need to have Demat account which allows you to hold all the securities you possess in dematerialized form and with trading account you can buy and sell stocks.

You can open Free DEMAT account with Groww with this link.

Groww is discount brokerage trading platform where you can buy/sell stocks, trade in Futures and Option, Buy US stocks, Invest in Fixed Deposits, Mutual Funds etc. The User Experience is very user friendly for people who are new to trading and investing in stock markets.

Zerodha is another popular discount brokerage platform, you can open account with Zerodha with this link, note that opening Demat account is not free and you will be charged accordingly based on the service you choose but it is only one time charge.

3) Bank account

You need to have bank account to add or withdraw money from Groww app.

Steps to Buy your first stock with Groww:

You can use Groww from desktop browser or through mobile app, in this tutorial I will be using normal browser.

1) Login to Groww

Once you have opened your account with Groww then you can login to the app with your credentials

2) Go to search menu to search your favorite stock.

After you login to the application, you can now got to search bar at the top and search you

Or you can click on screener menu to filter out stocks based on some analysis like financial details, market capitalization, sectors etc.

3) Buy your stocks

Once you have selected your stock, now its time to buy the stock.

You can buy and sell stocks only during market hours i.e 9:15 AM to 3:30 PM IST and markets are usually closed on Saturday and Sunday and if there are any market holidays due to festival or national holidays.

You also need to have sufficient funds before making any stock purchase.

After you add funds, click on Delivery, and choose shares from NSE or BSE. These are two separate big stock exchanges in India.

Choose quantity of stocks to purchase and choose if it is Market order or limit order.

In case of market order the buy price will be same as that of market price and in case of limit order, it is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.

4) Check your invested stocks

Once invested the stock will be visible in Stocks -> Investment page

 

Please do note, I have taken Reliance Industries as and example for this tutorial, it’s not investment idea. Please make proper analysis and consult with your financial advisor to make investments in stock market.

Join me and 3 Cr Indians on Groww to invest in Stocks and Direct Mutual Funds.

Create your free demat account by using this link here:  https://app.groww.in/v3cO/htdwqnww