The analyst who work in stock market research work on two sides of the market: - Buy Side and Sell Side
Buy-Side: -
They are the ones who purchase the securities in the hopes of making a profit. The buy-side is made up of the investment bank’s clients, which include a wide range of corporations, organisations, and everything in between. Hedge funds, mutual funds, and investment management firms are examples of the buy-side. It generally includes -mutual funds, hedge funds, private equity, insurances, pensions etc.
Sell-Side: -
The sell-side is made up of the investment bank. Because the investment bank sells securities and investment ideas, it’s easy to recall that they’re on the sell-side. Investment banks and independent research firms are examples of the sell-side. The researchers develop an earnings model and conduct a complete analysis and valuation of the firm in this section. It generally includes: -debt capital markets, equity capital markets, sales and trading etc.