Artificial Intelligence (AI) is one of most emerging field in the research field and has given boost to the most growing technology known as Expert System (ES). An ES is a computer based program that is built to solve the problems in specialized domain. There are various expert systems in diversified areas like medical, engineering, agriculture, science etc. have been developed over the last five decades. Stock market is also one of the most important growing areas which shows the country’s economic growth and also shows the need of expert system. This paper mainly highlights the need of expert system in stock market as well as rule based expert system approach for particular stock selection.