In addition to purchasing stocks and equities ahead of this year's Diwali Muhurat trading session, investors can now invest in WealthBaskets, powered by WealthDesk, an investment technology platform that is developing the Unified Wealth Interface (UWI), an internet-scale wealth management ecosystem.
It enables innovative investment and wealth products and solutions like direct equity and ETF-based WealthBaskets from SEBI registered professionals to reach millions of Indians with broking accounts.
"The number of Demat accounts in India recently surpassed 10 crores. Investors invest in the hope of earning good returns from the stock market. However, time scarcity and limited knowledge restrict investors from creating a diversified portfolio by themselves that helps them reduce risk," Vaibhav Jain, Head - Wealth Management Partnerships and Sales, WealthDesk, said in a statement.
"WealthBaskets, offered by highly experienced SEBI registered professionals, are a viable solution for investors who are looking forward to getting access to curated portfolios based on certain themes or ideas. This Diwali, we would urge investors to make an informed decision by investing in WealthBaskets that will aid them in their journey of long-term wealth creation," Jain added.
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Muhurat trading in Indian stock markets is considered to be an auspicious trading hour on the occasion of Diwali and the customary Muhurat session is believed to bring wealth and prosperity throughout the year.
Marking the beginning of the Hindu accounting calendar year Samvat 2079, Indian stock exchanges BSE and NSE will conduct the Diwali Muhurat trading on Monday, i.e., October 24, 2022, from 6.15 p.m. to 7.15 p.m. and the pre-open session will commence at 6 p.m. and last till 6.08 p.m.
During this auspicious hour, investors can choose to invest in WealthBaskets - a basket of stocks and ETFs curated and managed by SEBI registered professionals. To lower their risk and invest in diversified stocks, investors can not only subscribe to WealthBaskets instead of buying individual stocks but also search for WealthBaskets containing their favourite stocks and invest in it.
"WealthBaskets has been the most prominent offering for retail clients, with a combination of research, smart use of technology with multiple choice of themes and baskets, to choose from," said Hemang Jani, Equity Strategist (B&D), Senior Group Vice President, Motilal Oswal Financial Services Ltd. (MOFSL).
"This has become highly relevant now as more & more first-time investors are entering into the equity market and looking for the first step towards their wealth creation journey," Jani added.
WealthDesk offers a platform to its partners (Brokers, Advisors, Distributors) under the Unified Wealth Interface vision to bring curated Equities and ETFs-based WealthBaskets managed by SEBI registered professionals. Investors can log in with any Broker available through Embedded WealthDesk Gateway (EWG) to execute and manage WealthBaskets. They can either buy it directly from the platform or take help from their relationship managers.
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"India is one of the largest and fastest-growing markets for digital consumers and enterprises. The digital economy is expected to contribute 18-20 per cent of GDP by FY25 compared with 8 per cent in FY18," said Rajesh Kothari, Founder and Managing Director of Alf Accurate.
He added, "AAA Digital India WealthBasket available on WealthDesk platform aims to capitalize on a robust digital ecosystem and faster digital adoption by focusing on companies leading the change."
