Behavioural finance is emerging field with wide scope. In the absence of enough of literature in Indian context, understanding of individual investor’s behaviour towards stock market by the policy makers, institutions, market infrastructure institutions, and companies find it challenging. The behaviour is caused by the reaction to different factors/attributes. In order to understand the factors that influence the investor’s investment decision a study was undertaken in Indian stock market consisting of 10 sectors with 30 companies listed on BSE-30 SENSEX. A research instrument consisting of 14 attributes was designed and sent to 2100 respondents. 467 responses were collected over a period of 6 months and KANO model was developed to classify the information into ‘must be’, ‘linear’, and ‘delight’ attributes. It was found that ‘must be’ attributes include condition of financial statements, current economic indicators, and the result of technical analysis and ‘insider information’ is a ‘delight’ attribute. The study revealed the factors are affecting the decision making of investors. The consideration of factors for investment decision making is sector specific and helps various parties in understanding the investment decision behaviour of investors’.

行为金融是一个新兴的领域，范围很广。在印度背景下缺乏足够文献的情况下，政策制定者、机构、市场基础设施机构和公司对个人投资者对股票市场的行为的理解发现具有挑战性。行为是由对不同因素/属性的反应引起的。为了了解影响投资者投资决策的因素，对印度股票市场进行了一项研究，该市场由 10 个行业组成，有 30 家在 BSE-30 SENSEX 上市的公司。设计了一个包含 14 个属性的研究工具并发送给 2100 名受访者。在 6 个月的时间里收集了 467 个响应，并开发了 KANO 模型以将信息分类为“必须”、“线性”和“令人愉悦”的属性。发现“必须”属性包括财务报表状况、当前经济指标和技术分析结果，“内幕消息”是“高兴”属性。研究揭示了影响投资者决策的因素。投资决策考虑的因素是行业特定的，有助于各方了解投资者的投资决策行为。