Investor Behaviour and Stock Market Perception in India: A Focus on Bhubaneswar City

The stock market plays a crucial role in the economic development of a country by facilitating investment and capital formation (World Federation of Exchanges, 2025).However, investors' perception towards stock market investment is influenced by a variety of factors, including economic, psychological, and sociodemographic aspects (Rajagopalan & Gurusamy, 2015).This study aims to analyse the key factors affecting investors' perception towards investment in the stock market, with a specific focus on investors in Bhubaneswar City, India.The primary objective is to identify key determinants affecting investment decisions and analyse their correlation with demographic variables such as gender, age, education, and income.Data were collected from 160 investors of the National Stock Exchange through a structured questionnaire employing a five-point Likert scale across 25 variables.Factor analysis revealed seven core factors influencing investment decisions: fundamental, internal & regulatory, economic & informational, strength & affordability, individual benefit, goodwill, and external factors.The results of this research provide valuable insights for policymakers, financial advisors, and market regulators to enhance investor education programs and formulate strategies to boost retail investor participation in the stock market.Strengthening investor awareness, ensuring transparent regulatory frameworks, and addressing behavioural biases can contribute to a more vibrant and inclusive investment environment.