How to buy shares through ICICI demat account?

Question

Recently I got a demat account from ICICI Bank. Just I want to know regarding the procedure for buying or selling shares. Because, when I clicked the link to buy shares it is not accepting it is displaying some other stuffs.

Answer 1

Demate account and share trading account are seperate accounts. You have to open a share trading account with an authorised brokes either of NSC or BSE. Through the broker you can purchase or sell the stocks.

Answer 2

I hope you have opened a demat, trading account with ICICI and have a saving account associated with it.

Login into ICICIdirect.com with your id and password. Click on 'Modify Allocation' link. It will show up the amount available in your bank account. Add the amount you want for trading.

Then click on 'Buy' link. If you know the six alphabet code for the company of which you you want to buy the share, enter that, or search using the link available. Enter the quantity (no. of shares). Specify whether you want to buy at the market price or the limit price. Market price will execute the order at whatever price the share is available while in limit order the order will be executed if the share falls at/below your quoted price. You can check the status by clicking on the 'Order Book' link.

The shares will be credited in about 2-3 days. You can view the same by clicking on the 'Demat Allocation' link. If you cannot view the shares, click on the 'Allocate' button and proceed.

The similar process for sell also follows. The amount being credited in 2-3 days in your savings account linked.

I hope it helps.

Answer 3

Visit your nearest icicidirect office and they will give you a demo on how to invest and use the site.

Answer 4

Hi,

From the details you gave, I believe you have opened a demat account with ICICI Bank, not a trading account with ICICIDirect.com. Your demat account is only a place to hold your shares, just like a bank account to hold your cash. You need to open a trading account with any broker. It is separate from your demat account. When you buy shares using your trading account, the broker will deposit the shares in your demat account. So, you will need both: a trading account and a demat account.