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How to be a Millionaire in the Stock Market?

Well! Who doesn’t want to get rich? Everybody here has individual financial goals, right? Now, what is the simplest way to get rich or be a millionaire? Yes, Stock Market.

Investing in the stock market gives you so many ways to build your wealth. But, you can’t get anything free of cost in this world. So, the stock market itself also comes with a huge risk. In the US as well as India, the market capitalization of the stock market is high.

As reported by NSE, in 2021 the total market capitalization of the Indian Stock Market was US$3.4 trillion while in the US, it was US$95 trillion in 2020. Here, you need to know that 54.5 percent of the total stock market capitalization in the world is represented by The United States.

On the other hand, BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) are the two biggest stock exchanges in India. Alternatively, NASDAQ (National Association of Securities Dealers Automated Quotations) and NYSE (New York Stock Exchange) are the two largest and main stock exchanges in the US.

If you are an Indian citizen and want to invest your money in the stock market then the first thing you have to do is open a DEMAT Account. Nowadays, you can do all these things digitally. Here are all things you need to submit while opening a DEMAT account-

  1. ID Proof
  2. PAN Card
  3. Adhaar Card or Voter Card as address proof
  4. Income Proof (Don’t worry you can still open a DEMAT Account when you are a student)
  5. Signature
  6. Bank Statement
  7. Passport size photograph
  8. A certain amount of money (Nowadays, it comes free)

After opening a DEMAT Account you can choose your can link your bank account with your DEMAT account and start investing. DEMAT Account is the same as “Brokerage Account” in the US. Here are the steps you need to follow before opening a Brokerage Account in the US-

  1. Id Proof
  2. Your TIN (Taxpayer Identification Number) or SSN (Social Security Number)
  3. Address Proof
  4. Phone Number
  5. DOB
  6. Email Address
  7. Passport Information, Driver Licence, or Other government-issued certification
  8. Occupation and your status of employment

Now, you’ve opened your DEMAT or Brokerage Account you need to find the best stocks for investing. One thing you need to keep in mind is that you have to research well regarding the market before you start your investing path. The market is full of up and down so, you also need to be patient.

I’d suggest you invest in the long term because that is the least risky way and can give you a high return n future. Let me give you an example. Suppose, in 2008, you invested $18/ share and bought 100 shares of Apple for the long-term. In 2019, the same shares will give you $157. It is because of compound interest and daily increasing share price. But, you need to be careful while choosing your stock.

Here are the top 10 current most promising stocks of India –

Company Name Market Capital (Rs. Cr)
Reliance 1,743,716.47
TCS 1,387,144.26
HDFC Bank 799,927.00
INFOSYS 793,748.48
ICICI Bank 489,380.42
HUL 461,459.72
SBI 434,628.58
Bajaj Finance 423,688.46
HDFC 418,726.22
Bharti Airtel 394,185.84


Here are the top 10 current most promising stocks of the US –

Company Name Market Capital ($B)
Apple Inc (AAPL) 2,381.7
Microsoft Corp (MSFT) 2,273.6
Amazon.com, Inc. (AMZN) 1,487.8
Facebook Inc (FB) 909.0
Alphabet Inc. Class A (Google) 220.3
Alphabet Inc. Class c (GOOG) 828.4
Tesla Inc (TSLA) 567.0
Nvidia Corp. (NVDA) 557.8
Berkshire Hathaway Inc. (BRK.B) 541.6
J P Morgan Chase & Co.  (JPM) 484.2


Here are some tips for you if you want to be a millionaire in Stock Market-

Always stay focused and don’t lose your patience:

Patience is the end game in the stock market. Stay more focused, more alert, and more knowledgeable. The more you understand the market the higher your return will be.

Research, research, and research:

The stock market is complicated. You need to pull practical experiences as well as gain more knowledge about different aspects of the market. Research as much as possible because it will help you to gain your confidence in the market.

Buy & Hold:

It is the ultimate and least risky way to gain a higher return. The more you invest in the long-term rather than investing for short period, there would be more chances of gaining a high profit in the upcoming years.

Suppose you are investing 10000 rupees in long run with an ROI of 10% for 30 years. After 30 years you will have Rs. 80000 in total which means 70000 ROI. This is the magic of compound interest.  The more you invest in the long term the more you gain. Just click on the link and calculate your ROI.

Calculate your investing budget:

Always try to calculate your income and expenses before investing your whole savings. The stock market is a highly fluctuating place where you can gain a high return on your investments. But, a wrong stock can give you a huge loss too. I would suggest you hire a financial advisor before stepping into the market.

Start at an early age:

Investing is depending on the period. So, the more early you start the more profit you gain. It is the simple rule of investing. But, don’t think you can’t start it now.

Stay Updated:

Staying updated about information related to the market or modern technologies can help you in investing. The stock market is changing regularly, so you need to stay updated about small to smaller data or information.

You can follow business news channels; youtube channels, newspapers to gain information. Otherwise, you can also gather inside information about the market if you have that kind of source. It all depends on you.

Here are some apps that can help you in opening your DEMAT Account and guide you in investing with or without any cost.-

With these mentioned apps, you can follow your foreign investments also. Now, let’s talk about the legends who are masterminds in this field and are already a millionaire in the stock market. Here is the list of top 10 investors in India-

Premji and Associates:

Azim Premji started his journey with his small family business in 1980. After that, he entered the IT sectors of India and the rest is history. His current net worth is Rs. 253,000 Cr. (2021).

Radhakrishnan Damani:

Mr. Radhakrishnan Damani was the mentor of the legend named Rakesh Jhunjhunwala. He is the richest trader in the country. His current net worth is Rs. 202,200 Cr. (2021).

Rakesh Jhunjhunwala:

Mr. Rakesh Jhunjhunwala, also known as “The Big Bull” in the stock market of India became one of the best idols among young traders or investors. His current portfolio is Rs. 2300 Cr.

Ashish Dhawan:

Mr. Asish Dhawan is one of the great investors in India. He is the CEO of Central Square Foundation. He also founded Ashoka University. His current portfolio is Rs. 1,971 Cr.

Sunil Singhania:

Sunil Singhania is one brighter name in the list of top successful investors of India. His worth is Rs 2,248 Cr.

Mukul Agarwal:

Mr. Mukul Agarwal started his journey in the late 1990s. At present, he is a successful entrepreneur with a total worth of Rs. 2,256 Cr. Mr. Agarwal is also a TEDx speaker and motivational speaker.

Ashish Kacholia:

Mr. Ashish Kacholia is also called the king of low-cost stocks. One of his low-cost stocks gave a 140% return in a single year. His portfolio is Rs. 1698 Cr.

Anil Kumar Goel:

Mr. Anil Kumar Goel is holding 34 stocks presently and his portfolio amount is Rs. 1,366 Cr.

Mohnish Pabrai:

The net worth of Mr. Mohnish Pabrai is Rs. 1174 Cr. He gained this portfolio with just 3 stocks.

Akash Bhansali:

Mr. Akash Vhansali raised his portfolio by 34.29% in the last 5 years. His current portfolio amount is Rs. 4447 Cr.

So, these were the legends of the Indian stock market. Not only these but there is also some good example of successful investors around the world. Let’s take a look at them-

Warren Buffett:

You are well aware of this name, right? Sir Warren Buffett is worldwide regarded as the most successful investor. He also worked in different investing companies in his early days. He started his investing career with a minimum amount of investment. Today, his net worth is $50 billion.

Benjamin Graham:

Sir Benjamin Graham was the mentor and teacher of Warren Buffett. He is also known as “the father of value investing”. He is famous for gaining maximum profits without taking huge risks. He has a net worth of $1.5 million presently.

Bill Gross:

Bill Gross is considered as “the king of bonds”. He is the manager and founder of PIMCO. His net worth is $600 Billion.

Lastly, I just want to say that investing in stocks means you want to increase your capital. But, to become a millionaire overnight? That may sound dreamy. Apart from that, before investing build your skills, knowledge, understanding, and a proper investment plan.

Also, you need to understand that the market is uncertain so you need to prepare yourself for any condition.

Written by Bidyut Bikash Dhar

Bidyut Bikash Dhar is a dynamic Digital Marketing & Online Branding Strategist specializing in Reputation Management, International Healthcare Marketing, Medical Tourism, and Inbound Marketing. With a wealth of experience, Bidyut excels in crafting innovative strategies tailored to clients' needs. He has helped numerous businesses enhance their online presence, build strong brand identities, and connect with their target audience effectively. Bidyut's expertise extends to international healthcare marketing, where his insights have enabled healthcare providers to attract patients globally. Additionally, as an Inbound Marketing Specialist, he creates compelling campaigns that drive engagement and conversions. With a passion for staying ahead of industry trends, Bidyut is dedicated to empowering organizations to thrive in the digital age.

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