A stock is a security that represents the ownership of a fraction of a corporation. This entitles the owner of the stock to a proportion of the corporation’s assets and profits equal to how much stock they own. Units of stock are called “shares.”
Index futures are contracts to buy or sell a financial index at a set price today, to be settled at a date in the future. Portfolio managers use index futures to hedge their equity positions against a loss in stocks.
Commodity futures can be used to hedge or protect a position in commodities. A commodity futures contract is a standardized contract that obliges the buyer to purchase some underlying commodity (or the seller to sell it) at a predetermined future price and date.
Intraday trading refers to buying and selling of stocks on the same day. It is done using online trading platforms. Suppose a person buys stock for a company, they have to specifically mention ‘intraday’ in the portal of the platform used. This enables the user to buy and sell the same number of stocks of the same company on the same day before the market closes. The purpose is earning profits through the movement of market indices.