Whenever individuals have surplus funds in their hands, they try to put those money in some areas where from they can get certain returns. According to the risk appetite of the investors the avenues vary from one investor to another. Some people may prefer Fixed deposits and some people may prefer the equity market. As an individual takes his/her decision for life based on certain emotions, sentiments, biases. In the same manner, while making investment decisions, investors are often influenced by their sentiments and some other factors. In this paper attempt is made to assess the behaviour of kolkatan while making their equity investment. Factor analysis and Confirmatory factor analysis are done to assess such behaviour. Reliability, Preference and Awareness are three major factors contributing towards their decision making in this regard. Confirmatory factor analysis is applied to confirm the authenticity of the study as these are the major factors reveal from the literature survey.

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Keywords: Equity Shares, Kolkata, Reliability, Preference, Awareness.