Latest News | 17 Pc Indian Households Invest in Stocks; Onus on I-bankers to Get Good Cos to Markets: NSE Chief
Get latest articles and stories on Latest News at LatestLY. National Stock Exchange's managing director and chief executive officer Ashish Chauhan on Monday said 17 per cent of Indian households are invested in stocks, and urged investment bankers to get quality companies to the market.
Mumbai, Oct 30 (PTI) National Stock Exchange's managing director and chief executive officer Ashish Chauhan on Monday said 17 per cent of Indian households are invested in stocks, and urged investment bankers to get quality companies to the market.
Speaking at an event organised by the Association of Investment Bankers of India here, Chauhan said people who are seemingly poor are investing in entrepreneurs because of the trust factor and the number of investors are growing.
There are 8 crore unique investors from 5 crore households who are invested, which means 17 per cent of the overall households of the country are directly invested in the stock markets, Chauhan said, adding that initial public offerings (IPOs) by companies are the preferred route for entering the markets.
"So let us pray and of course work hard to ensure that only good companies come to the markets," Chauhan said in his address to the investment bankers.
He said if the country's largest bourse NSE was a country, it would be 20th biggest in the world, and pointed that the biggest surge in the number of investors happened in the last three years during the Covid period with the help of mobile phones and applications.
The i-bankers will play an important role in the Indian growth story, taking the overall economy to USD 5 trillion, USD 20 trillion or USD 50 trillion.
Chauhan said the market capitalisation to GDP ratio is 1:1 at present in India, and added that not many countries can boast of such financialisation.
He added that a third of what Indians consider as wealth is now represented by NSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)