Retail Investors Keep Faith On India Stocks Despite Adani Rout
NDTV
An increasingly important way individuals are influencing the broader stock market is through the monthly investment plans offered by mutual-fund firms.
Individual stock investors in India are keeping faith in the country's $3.1 trillion equity market even after a punishing selloff in Adani Group shares threatened to drag down one of the world's best-performing indexes since the pandemic.
Hanoz Mistri is among the small investors in India who believe the carnage that has wiped off about $131 billion from the value of Adani shares won't damp the long-term prospects for the nation's equities. The ship-broker, who previously owned Adani group stocks, plans to continue investing in companies such as commodity businesses that benefit from India's expanding middle class.
"India is a great consumption story and I am confident this journey will continue," Mumbai-based Mistri said in a phone interview.
Retail investors such as Mistri are part of a groundswell that is changing the face of the world's second-biggest emerging market. Roughly 1 million new trading accounts are opened every month, and the total has now climbed above 110 million, more than the populations of South Korea and Spain combined.
