It is more difficult to manage money then to earn it. Money management is thus one of the key aspects to financial freedom. Keeping this in mind, Nagpur Branch of WICASA of ICAI organized a webinar on topic “Stock Market Beginners Pathshala” to guide the members and students about the intricacies of the capital market and to further provide insight on the concept of financial freedom and financial literacy.
The session was graced by Chief Guest CA. Mahendra Kamath, Past Chairman of Nagpur Branch of ICAI. A master himself in finance management and allocation, Kamath emphasized on why investment is necessary and how and when to invest for students as well as members. He remarked, that some people earn a lot of money in their working span but in old age they are left with very little amount of money. People know how to create wealth, but wealth creation is bundled with other aspects of money which are wealth management and wealth distribution. He stated that investors should focus more on financial discipline than knowledge. He discussed investor’s psychology of following familiarity bias, every other person’s opinion and that investor’s fear and greed itself becomes the rival of their own investment. Further, he highlighted the various aspects of wealth creation which includes risk management, asset allocation, cash flow design, expenses and debt management and succession planning. He quoted the famous quote of Dave Ramsey –‘Those who don’t manage their money will always work for those who do’.
CA. Jiten Saglani, Chairman of Nagpur Branch of WICASA, addressed the webinar by stating the stock market as a place of dreams, where everyone comes with a dream but don’t know how to achieve it. The basic purpose for this session was to educate CA Students and Members about basic of Stock Market and to make them understand various terminology and ways of looking at Market so that they can start their journey of investing in the market.
CA. Saket Bagdia, Chairman of Nagpur Branch of ICAI, in his remarks stated that Covid taught us to value life, family, friends and also to value money i.e., savings. He assured that the webinar would give good learning of the market, what happens in the market and all in-and-out of the market. He urged everyone to be patient in the pandemic, stay safe and also mentioned about the Covid Helpline Group for Students which is providing help to many people in need.
The session was guided by CA. Jiten Saglani, a SEBI Certified Securities Market Trainer (SMART) and Mr. Ajay Barik, a technical analyst, having in depth knowledge of markets. The speakers started with the basics of stock market and they made students understand the terms and terminology used in the market- Bull & Bear Market, Market Capitalization, Blue Chip Stocks, Penny Stocks, Stock Split & Consolidation, Dividend & Dividend Yield, Record & Ex-date, IPO, FPO, OFS, Gray Market, Bonus Shares, etc. The technical aspects of the market were also dealt with say, Demat & Trading A/c, Clearing & Settlement Process, Circuit Breakers, Mutual Funds, Short Selling, ETF, Private Placement, Portfolio Management Services, Brief of Derivatives, etc. To give a clear understanding to students, visual imparting through videos were also included along with the presentation.
It turned to be an interactive session with an attendance of more than 100 students as well as members. Student’s participation at every point of the webinar made it a more reciprocating and informative session. The speakers very well guided the students on their doubts.
Prominently present on this occasion were CA. Sanjay Agrawal, Secretary, Nagpur Branch along with CA. Kirit Kalyani, Past Chairman & CA. Akshay Gulhane, Treasurer. The webinar was ably conducted by Nagpur WICASA Team comprising – Mr.Ameya Soman, Miss Aviral Barange, Mr. Karan Agarwal, Mr. Karan Tajne, Mr. Parag Jain, Miss Radhika Taneja and Miss Ravina Tayade. A recording of the Webinar can be viewed on WICASA Nagpur’s YouTube Channel.