Financial literacy is defined as “Possessing the skills and knowledge on financial matters to confidently take effective action that best fulfils an individual`s personal, family and global community goals.”
A financial market is a market in which people trade financial securities, commodities, and other items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural products.
Sound knowledge of share market can enable any individual to unlock enormous wealth so as to lead financially independent life. Absence of financial literacy of stock market can lead to making poor decisions that can have adverse effects on the financial health of an individual.