The time horizon of investor is very short. He is not able to wait for one or two or three years which is essential in the equity market. And there is so much money in the system and no alternative avenues to put the money. The system is generating so much money, but bank deposit, PF or PPF give much lower returns. Industrial activity is not great.
People have a lot of surplus money.
People become punters on the market. To a certain extent, yes. Earlier, physical share transfers took two-three months. Now, it takes three-five days. Technology is definitely one of the reasons.