(i) Speculation involves trading a financial instrument involving high risk, in expectation of significant returns.
(ii) The motive is to take maximum advantage from fluctuations in the market.
(iii) Spectrlators are prevalent in the markets where price movements of securities are highly frequent and volatile.

(i) There is no reasoning involved in gambling.
(ii) It accentuates fluctuations in price and it is unethical and illegal.
(iii) It does not perform economic function.

(i) Sensex is an index of the stocks in BSE (Bombay Stock Exchange).
(ii) Sensex has a list of 30 stocks.
(iii) BSE decides the stocks that are to be listed on Sensex
(iv) Sensex is volume of the trade of that stock and total volume of the stock in BSE.
(v) Based on the above said factors, BSE regularly prepares a set of 30 stocks which will be together called as SENSEX.

i) Future market:
(a) A Future market is an auction market in which participants buy and sell commodity and futures contracts for delivery on a specified future date.
(b) Examples of futures markets are the New York Mercantile Exchange, the Kansas City Board of Trade, the Chicago Mercantile Exchange, the Chicago Board of Options Exchange and the Minneapolis Grain Exchange.
ii) Options market:
(a) An 'Option' is a type of security that can be bought or sold at a specified price within a specified period of time, in exchange for a non-refundable up front deposit.
(b) Options are a type of derivative product. The right to sell a security is called a 'Put Option', while the right to buy is called the 'Call Option'.

(i) The word Nifty originates from 2 words, 'National' and 'Fifty'.
(ii) Nifty basically means the index of the 50 most actively traded stocks from across all sectors.
(iii) Nifty represents the top stocks of the NSE and when we talk about Nifty going up, it means that all the heavyweight stocks of NSE across all sectors are moving up.
(iv) Nifty consists of top 50 companies from 24 different sectors.
(v) Nifty is computed from the performance of top stocks from different sectors.
(vi) Some mutual funds use Nifty as a benchmark. The performance of the mutual funds is assessed against the performance of the Nifty.

(i) Jobbers:
(a) Jobbers are security merchants dealing in shares, debentures as independent operators.
(b) They buy and sell securities on their own behalf and try to earn through price changes.
(c) In India, they are called Taravaniwalas.
(ii) Gambling:
(a) There is no reasoning involved in gambling.
(b) It accentuates fluctuations in price and it is unethical and illegal.
(c) It does not perform economic function.

(i) There are 24 stock exchange in the country, with 21 of them being regional in nature.
(ii) Three others that have been set up in the reforms era, viz., National Stock Exchange (NSE), the Over the Counter Exchange of India Limited (OTCEI) and Interconnected Stock Exchange of India Limited (ISE) have mandate to nationwide trading network.
(iii) The ISE has been promoted by 15 regional stock exchanges in the country and is based at Mumbai.
(iv) The ISE provides a member-broker of any of these stock exchanges an access into the national market segment.
(v) The NSE, OTCEI, ISE and majority of the regional stock exchanges have adopted the Screen Based Trading System (SBTS) to provide automated and modern facilities for trading in a transparent, fair and open manner with access to investors across the country.