INTRODUCATION :Investment are the amounts which are invested as capital or some securities of public or private sector for

earning income. The amounts which are invested without the project of earning money, are either donationor assistance.The concept of investment means employment of funds to earn additional income or growthin term of value. The essential quality of an investmentis expectation of reward. It involves the commitment of resources which have been saved from current consumption in the hope that some benefits will be received in future. SHARE MARKET :-A person can invest his money in the share market by purchasing shares. sharemarket is a public institution and it serves the growth of thecapital market. It is the most perfect type of market forsecurities, whether the share are of government andsemi-government bodies or other public bodies, as alsofor share and debentures issued by the joint stock companies. In the stock market, purchase and sale of shareare made in conditions of free competition. It is organized as voluntarily, non-profit making association ofbrokers to regulate and project their interests. Government securities are traded outside the trading ring inthe form of over all counter sale or purchase. whenevera company raises capital through public issue of securities, its securities are required to be listed on the stockexchange within ten weeks of the closing of the subscription list mainly to provide liquidity to the investors. OBJECTIVES OF STUDY :1. To study the Behaviorof investors towords share market in the Dhar district. 2.To analysis the attitude of investors in the study area. 3. The purpose of this research paper is to study theZecision process of investors. HYPOTHESIS :1. Investing has been an activity confined to the rich and business class. 2. There is no significant association between age and investent. METHODOLOGY:The study was based on a samplesurvey of individual investors in the security market. The data used are the first hand information collectedwith the help of questionnaire form the set of respondents.The sample size for this survey was 80.The views are conducted in the month of April to July2010. The investors were interviewed in Dhar district.The analysis of the overall status of the investors andtheir behavior in the district is based on the primarydata. The secondary data and information were obtained from the various journal, magazines, books andinternet sources.

STUDY AREA :The Dhar district is situated in thewest part of Madhay Pradesh. District lying between 2200 and 2310 N latitude and 7428 and 7542 E longitude. Total geographical area of the district is 8153sq. kms. Comprising of 1474 villages. and having1740329 population as per the 2001 census.The density of population in the district was 213 per sq.km. Theaverage annual rainfall is 640.60 mm.(200809), Mostlyfrom the south west monsoon. It is surrounded byJhabua district in the west, Barwani district in the south, Khargone district in the south east, Indore district inthe east and Ujjain district in the north east, Ratlamdistrict in the north. The district head quarter dhar is 65k.m. away from indore which is economical capital ofM.P. Dhar district is most papular for Pithampur industrial zone and its heritage zones Mandu and Bagh. RESEARCH AND ANALYSIS The research was based on questionnaire for collecting the data.The data were tabulated and analyzed soas to represent in a diagrammatic form in a simple manner. The age of the sample respondents is expected torelate with their experience in trading in securitymarket.The distribution of age of the respondents isgiven in Diagram 1.It could be seen that 31(38.75%) investors are between the age of below 35 years. 23(28.75%) investors are in the ages between 35-44. 17(21.25%) are in the ages between 45-54 and 09(11.25%) investors are in the age above55. It shows that the Research PaperCommerce 12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212 12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212 12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212 12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212 12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212 12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212

12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212 12345678901234567890123456789012123456789012345678901234567890121234567890123456789 01234567890121234567890123456789012345678901212 October, 2010 INVESTORS BEHAVIOR TOWORDS SHARE MARKET (A Study of Dhar district of Madhya Pradesh) * Prof. Sohan Patidar * Deptt. of Commerce Shri Ambika Adarsh Mahavidhyalaya Badnawar ,Dhar (M.P.)56 International Research Journal, October 2010, ISSN- 0975-3486 RNI : RAJBIL 2009/30097 VOL I * ISSUE 13 RESEARCH ANALYSIS AND EVALUATION investors in the age group of below 35 years are actively participating in the speculation trade and the age group above 55 hesitate to take risk.The level of education plays very important role in the socio-economic status of an individual. It also shows the status of education. It is inferred from Diagram 2 that the 24(30%) investors have only higher secondary education,18(22.5%) investors have completed graduation, 14(17.5%) investors have done postgraduation. The professional investors are 11(13.75%) who have professional degree.and 13(16.25%) investors are others. Source: Primary Data Investment in share is also on the basis of income of the family. The investing ability may differ from person to person according to his earning capacity. Diagram 3 reveals the position of the investors.It is evident from

the Diagram that 32(40%) investors earn monthly income less than Rs.20000. 25(31.25%) investors earn income between Rs.20001-30000 per month, 10(12.5%) investors earn Rs.30001-40000 per month, 08(10%) investors earn Rs.40001-50000 per month and only 05(06.25%) investors are earn Rs.50000 above per month. The experience of the investors in the share market is another vital factor for the increasing public Age-wise Classification 31 23 17 9 0 10 20 30 40 Age of Investors No. of Respondents No. of Respondents 31 23 17 9 Below 35 35-44 45-54 More than 55 Experience in Online Trading 18 23 7 13

19 0 5 10 15 20 25 Experience (in year) No. of Respondents No.of Respondents 18 23 7 13 19 Less than 2 years 2 to 3 years 3 to 4 years 4 to 5 years More than 5 years Influencing Factors of Investment 43 6 11 5 15 0 10 20 30

40 50 Avenues No. of Respondents No.of Respondents 43 6 11 5 15 Share Brokers Newspapers Magazines Studies Friends and Relatives awareness in choosing the effective channel for investing in the share market.It could be seen from Diagram 4 that 18(22.5%) investors have less than 2 years experience, 23(28.75%) investors have 2 to 3 years experience and only 07(08.75%) investors have 3 to 4 years experience,13(16.25%) investors have 4 to 5 years experience and 19(23.75%) investors have more than 5 years experience.Diagram 5 is shows that 43(53.75%) investors are investing his hard money through share brokers. 06(07.5%) investors are investing on the basis of newspaper information, 11(13.75%) investors are investing on the analysis of magazines, 05(06.25%) investors are investing on the basis of studies of share Diagram : 2 Diagram : 3 market and 15(18.75%) investors are investing his money according to their friends and relatives advices. INVESTORS AWARENESS AND ATTITUDE :Investors behavior is influenced by many factors including social and psychological factors. It is an acceptable fact that the investors are the focal point to

the security market. The behavior of investors is not a static one. It varies from place to place. It is how individuals act to obtain and use money and benefits including the decision process. It has been long since small investors have forgotten to go through the primary market. New issues from corporate have virtually come to a standstill over the last two years due to the adverse condition of the stock market. Now the small investors also fear to put their hard earned money in the secondary market. Due to a continuous fall in the interest rates all the savings schemes in banks, post offices, Non-banking Finance Companies and provident funds, the hard-earned money o the people is being eaten away by inflation. But the stock market is the place next to direct busi-RESEARCH ANALYSIS AND EVALUATION 57 International Research Journal, October 2010, ISSN- 0975-3486 RNI : RAJBIL 2009/30097 VOL I * ISSUE 13 ness where erosion of money due to inflation can be avoided, if prudent investment decisions are taken. It is true that money can be doubled or tripled in a few days in the stock market. The task of earning profit through trading in share is not very easy particularly for those who are not fully aware of the trading system at stock exchanges. CONCLUSION :- The behavior of investors of Dhar district has been analyzed. The findings of the present study indicate that As per the age-wise classification,

the investors in the age group of below 35 years are actively participating in the speculation trade and the age group above 55 hesitate to take risk. and are not at all interested in the share market.Professional people are not interested to invest their money in the share 1- An Introduction to Research Methods- Parasnath Roy, Laxmi Narayan Agrawal Publication, Agra 2Financial Market Operations - Dr.V.P. Agrawal, Sahitya Bhawan Publication Agra 2008. 3- Company Law - Dr.S.M. Shukla & Dr. S.K.Sinha, Sahitya Bhawan Publication Agra 2008. 4- Financial Manageent - Dr. S.P. Gupta, Sahitya Bhawan Publication Agra 2008.5- Survey 2010 R E F E R E N C E market.Investors falling under income group below Rs.20,000 show more interest in investing their earings in the share market.The 2 or 3 years experience holder investors are more interested find than another investors.Mostly investors are investing his money through share brokers. Investing has been activity confined to the rich and business class in the past. But today, It has become a household word and is very popular with people from all walks of life. The results conclude that in todays era the person must think about future life. Even the individuals must leave with planning of finance for make their life become comfortable, relaxable and luxuries todays man is also good investor becouse market gives him a lot of opportunities of investment.