You wish to learn about some of the Best Stock Screeners for Indian Investors, you have landed at the right place. May it be stock investment from an Indian investor’s perspective or any other country, a relevant and advanced stock screener proves to be a very handy trading tool.
Now, let’s hunt for interesting insights on stock screeners and their utility in stock analysis.
First things first, we would like to point out that while terminologically, a stock screener is for stocks, the blips on the screen, it is very important to keep in mind what stocks represent. Businesses!! Stock screeners give information about stocks, technically, sure. But the idea is that that information is supposed to tell how a businesses if operating, which in turn is a representation of how an economy is functioning. With that, let’s get into it.
What is Stock Screener? Meaning
We want you take a moment here. Try and remember, all those nights as a young adult you spent cramming formulas doing calculations then cramming more formulas. Ah! So, exhausting!! (No choice, if they were a part of your curriculum).
Welcome to the real world. We have calculators, computers and algorithms. And, all that effort you spent writing the formulas down hundreds of times doesn’t matter because enter stock screeners.
A stock screener is basically an analytical tool which has a bunch of different criteria of analysis of stock. Basically, in trading research, there are three aspects. The numbers, the calculations and the analysis.
The numbers are always available for everyone to access. Stock screeners do the calculations for you, the ratios, the shareholding patterns, industry averages, moving averages, trading indicators, you name it. The idea is with use of such tools, you save your precious time and brain power and focus more on analysis.
A stock screener can sort and filter the data for you, but it is still you who has to decide the parameters based on a bunch of factors and it is still you who has to draw inferences from that filtered data.
The thing is, all that time you spent cramming formulas in your head is not entirely waste, if you bothered to pay attention to what the formula means and represents, because understanding of any tool if the most basic step in using it properly.
Stock Screener: How does it help?
What if you have to study the financials of every stock company listed on stock exchange? It may take years to analyse and figure out a list of good companies to invest. So, what now? That’s when useful analysis tool like “Stock Screener” comes to your rescue. So, how does it help you?
- You can easily and quickly shortlist few companies based on the specific filters selected.
- You can save a lot of your precious time and effort.
- No need to go through all the companies and their data. Apply required filters and carry out further in-depth analysis of shortlisted companies only.
- Research and find well-performing stocks with few clicks!
Suppose, you wish to know about companies ranked by market cap, or the ones whose P/E ratio is between 15 to 25 and debt to equity ratio is lesser than 1, so you can set these filters and get the said results based on such criteria. Look how simple it seems!
Best Stock Screener for Indian Investors
Here are few interesting tools.
Look, I’ll just say it, even if it seems like an advertisement. Screener, a very powerful stock screening software and an awesome fundamental analysis tool.
Screener gives all the information you could ever need about a company. It provides you all the basic information like financial ratios, but its interface also provides you with financials sorted by years, making year to year comparison easier. And it also gives you a stop location for all the annual reports and announcements, which are downloadable.
But that’s not it! Screener has something called query builder, in which you can define how you want to sort your data of various companies and get information according to your research.
Suppose you want to know companies with a certain level of market capitalization. You just enter the number and bam! You have the list. This might feel like not much but it is pretty time efficient. It has a free plan as well a premium plan.
Call it one of the best stock screening website, Investing.com is listed as the top stock screeners out there. It also happens to be one of the most efficient screeners, where you can find companies listed on NSE and BSE. There are a ton of different filters available on the site for screening the stocks like ratios, prices, volume & market volatility, fundamental numbers, dividends and technical indicators.
The way the UI works makes it the best screener for macro analysis. It also gives you an option to create a watch list, manage your portfolio with several top-tier broker integration and provides alerts. Most of the features are available for free, only the ad-free version requires a membership, which is also super affordable starting at around Rs.3500 per year.
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Tickertape Screener is one of the cheapest and simplest screeners out there. With quite affordable plans available, it is not only inexpensive but also super-efficient. The best part about TickerTape is its UI, which sorts data in a really simple manner but also allowing to compare various market caps, sectors, close prices, PE ratios and other financial ratios among companies.
The features and filters are all customizable and there a ton of filters to choose from. The premium plan also offers expert stock tips, and since the entire company’s business model is based on analysis, needless to say the tips can be reliable.
TradingView is more than simply a stock screener. It provides all the features of a stock screener like important financial ratios and peer analysis, but it goes above and beyond in providing ideas, scripts of different statistical analysis like moving averages, etc.
It provides a ton of different statistical charts helping technical analysts and visual thinkers alike, and provides services for all kinds of markets including commodities and cryptocurrencies. It also works as a social media for financial analysts and enthusiasts.
TopStockResearch, also one of the best stock screener, is for advanced technical users. It does require basic understanding of statistics and patterns, however it is simply one of the best at what it does. It provides indicators and pattern summary, trend based moving averages and much more. It also provides a ton of tutorials to learn such tools to use it more efficiently, along with providing custom reports. And this fundamental screener is free, so you can try and tell!
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In this day and age, calculation of numbers and analysis is easier, but it is also multi-fold. There a ton of factors associated with each number resulting in a ton of permutations and combinations of events, so being careful is advisable while investing.
Disclaimer: There is a high degree of risk involved in stock trading. These details are for informational purpose only and cannot be constituted as professional advice in any regard. Please follow due diligence while investing your money and using any of the stock trading tools and platforms.
Have you tried any of the above listed best stock screeners? Did we miss any important name here? Feel free to share your experiences and feedback on any of the commonly used stock analysis tools.