How does trading work on ICICIDirect.com?

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Sushubh

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I logged in to my account after 5 years. I have to sell some stock this week. I just wanted to know somethings if anyone here can help.
My DMAT account is connected to my savings account. I do not remember how I started trading. I wonder if I allocated some funds from my savings account to my DMAT account for purchasing stocks?
What happens when I sell stock from my DMAT account? Is the money deposited straight to my savings account? Or ICICIDirect has its own storage account for funds allocated by me for trading?
Have absolutely no clue how things work!
 
Yr ICICI direct ac has to be linked to one of yr bank accounts. The proceeds of the sale will go into this ac 2 days after u affect the trade.
 
You need to go to "Modify allocation". Once shares has been sold, the amount will be credited under " Secondary Market Equity, ETF". Click Reduce, then the amount will be able to withdraw....i think, even the amount will be in your saving account, i think it will not show as Total withdrawal amount


https://imgur.com/jUQPBpa
 
Sold them today. The web interface was so confusing, used their mobile app 😀 It already shows: Rs. 6,872.07 in secondary allocation. Does this mean that these funds were with ICICI for all these years? 😀
 
heh cool. so i am guessing money would not go directly to my savings account. i had a feeling there was a buffer account in between. thanks for clarifying that part to me. icicidirect.com website is still a horrendous mess for anyone who does not know what he is doing there 😀 Got a text from NSE about the trade earlier. ICICI Direct has not mailed me at all. I am pretty sure that they have my email address and contact number 😱
 


hmm. icici transfered the funds back to my savings account. i was expecting them to land in the allocation section. :\
 
finally sold my remain share which i have been trying to sell for years now but dad would not allow.
icicidirect.com again was painful to use. it still showed reliance petroleum in my account which has not existed for many years now as it was merged with reliance industries.
i was told to use the option to refresh my portfolio. could not locate it.
used the phone ordering system. everything done in 30 seconds flat 😀
bye bye stock markets!
 
Is anyone here familar with how to go about buying part of the RIL Rights issue & selling the rest of the Rights Entitlement on ICICI Direct.com. The interface has changed so much, I am lost.
 

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