The dynamic nature of the stock market has always impeded the ability of an investor to recognise, and then quickly invest, in good stocks. Studying the charts, financial statements, and future plans of a company is time consuming, and gives rise to a lot of missed opportunities in the market. Fortunately, technology has made things easy with the introduction of stock screeners.
A tool to identify shares depending on certain criteria, stock screeners automate the manual tasks involved in researching good stocks. In this article, we’re reviewing the five best stock screens for identifying shares in the Indian market.
From affordable pricing to access to over 120+ filters, Ticker Tape is one of the best stock screeners in India. It has a simple interface, which makes things really easy for investors. The website can be used by beginners as well, with the platform having the ability to screen exchange-traded funds (ETFs), indices, and mutual funds in addition to stocks.
Some of the filters that can be used for identifying worthy shares include market capitalization, close price, and PE ratio. Additionally, Ticker Tape features forecasts from analysts, which helps maximize returns.
2. MoneyControl Stock Screener
MoneyControl is a recognised name in the Indian market, so it is no surprise that its stock screener is used by millions of traders in India every day. It uses the latest updates from Indian and international financial markets to screen stocks and make better investment decisions. Pricing starts at ₹129 per month, which is reasonable given the list of features offered.
In addition to allowing users to screen stocks on the basis of different parameters, MoneyControl’s stock screen also provides expert technical analysis, recovery tracker, and in-house research.
3. Zerodha Pi Scanner
If you trade through Zerodha, you don’t need to download any other stock screening application. Zerodha’s Pi screener has everything you need, from future estimates and access to 70+ filters, to custom filters and ability to save unlimited screens.
You can filter stocks through future estimates, broker ratings, financial ratios, and technical indicators. The feature can be used for all the sectors, including energy, information technology (IT), financials, and pharma. Additionally, the screener works at low Internet bandwidth, which helps you stay on top of your investing game even in remote areas.
4. Stock Screener—Investing.com
Investing.com is popularly used by investors around the globe. It is useful for Indian investors as well, with its stock screener helping both beginner and expert investors make better decisions. Investors can perform fundamental and technical analyses for all the companies trading on the NSE and BSE.
The available filters include dividend, ratio, price, fundamentals, and volume. Investing.com also provides charts and quotes, along with the latest news about every company.
5. Edelweiss Stock Screener
Edelweiss’ stock screener is available for free and can be used by both beginners and experienced investors to identify good stocks. The platform focuses more on fundamental analysis, while also has more than 20 custom criterions to help filter the best stocks.
Investors also have access to the real-time stock market charts and latest industry news. The market watch is fully customizable and you can choose to receive regular alerts and notifications as well.