MUMBAI (Feb 9): India’s retail investors opened a record amount of new accounts last year, even as an exodus of foreign investors began to weigh on the multi-year rally in the nation’s stocks. Individuals opened an all-time high of 31 million stock-trading accounts during 2021 — more than Australia’s entire population — according to data released at the end of January by the Securities & Exchange Board of India. Foreigners have continued to sell Indian stocks, with their withdrawals totaling nearly US$10 billion since the end of September. “Indian markets will continue to gain momentum, be it in terms of new listings or new account openings,” said DAM Capital’s Mehta. The IPO manager expects new listings in India, which raised a record US$18 billion in 2021, to keep attracting retail investors as more individuals seek exposure to stocks as an asset class.

Source: The Edge Markets February 10, 2022 04:27 UTC