COVID-19 brings rush of new investors in Indian stock market |
Even as markets across the globe crumbled due to the COVID-19 pandemic, the number of new investors rushing to equity markets has reached a new peak in the first five months of the current financial year. Even as the Indian equity market has seen a high degree of volatility in the past few months, the number of new investors rushing to the equity markets has surged 3 times. According to data available with the Bombay Stock Exchange, this is also 2.8 times higher than 1.78 million registrations seen in the comparable period last year. Previously, the highest number of new investor registrations took place April-August 2018 when 1.81 million new unique client codes were generated, 63% lower than the current year`s tally. As of date, the total registered investors on the Bombay Stock Exchange stand at 54 million. The combined growth in the new investors seen in April-March 2018 and 2019 is 27.6% lesser than the growth till August in FY2021. Experts say that pursuit by salaried class to up their incomes in the face of lower business activity and the pay cuts has attracted many new investors to the equities. Work from home, digital offerings, and smart recovery in the market also lured many to make a quick buck through trading in the stock market.
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