Answer:
There are four types of operators working on a stock exchange as given below: (i) Bull A bull is a speculator, who expects rise in price. He buys securities with a view to sell them in future at a higher price and making profit out of it. In Mumbai Stock Exchange, he is known as Tejiwala. (ii) Bear A bear is a speculator, who expects fall in price. He sells securities which he does not want to possess. He is known as Mandiwala in Mumbai Stock Exchange. (iii) Broker He is a member of stock exchange. He buys and sells securities on behalf of outsiders, who are not the members of the stock exchange. He charges brokerage or commission for his services. He buys and sells all types of securities as demanded by investors. (iv) Jobber He is also a member of stock exchange. He buys and sells securities on his own behalf. He is specialised in one type of security and makes profit by selling the securities at a higher price. In Mumbai Stock Exchange, he is known as Tarawaniwala.
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