Retail investors participation in the Indian capital market is miniscule. There are many reasons for their hesitation to invest in the market. This paper discusses research findings in investors behavior with respect to the securities market.

The concept of investment means employment of funds to earn additional income or growth in terms of value. The essential quality of an investment is `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.

Investment usually involves putting or investing money in something which is not necessarily marketable securities in the short time, in order to enjoy a series of benifitable returns. The security that is expected to yield only through investment can get a return unless it is impossible.

A person can invest his money in the share market by purchasing shares. A share market is a public institution and it serves the growth of the capital market. It is the most perfect type of market for securities, whether the shares are of government and semi-government bodies or other public bodies, as also for shares and debentures issued by the joint stock companies. In the stock market, purchase and sale of shares are made in conditions of free competition. It is organized as voluntarily, non-profit making association of brokers to regulate and protect their interests. Government securities are traded outside the trading ring in the form of over all counter sale or purchase.

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