homemarket NewsRetail participation: Investor accounts up 60% in last 18 months, says BSE's Ashishkumar Chauhan
Retail participation: Investor accounts up 60% in last 18 months, says BSE's Ashishkumar Chauhan
BSE has seen a 60 percent surge in the number of investor accounts in the last eighteen months, said Ashish Chauhan, CEO of the stock exchange.
The BSE Sensex made history on Friday by reaching the 60,000-mark for the first time ever as investors continued to accumulate banking, finance and auto stocks despite mixed global cues and concerns over frothy valuations.
The bulls managed to hold onto the peaks on Monday with the Sensex and Nifty seeing choppy trade to close flat-ish. Speaking to CNBC-TV18, Ashishkumar Chauhan, MD & CEO, BSE, noted that India has done phenomenally well in the last 18 months or so.
"I say there are three reasons and number one is demographics. India is a very young country vis-a-vis we say China, which used to be our nearest competition and it grew rapidly over the last 40 years and now not many people think that it will grow at the same pace over the next 40 years. So they are in search of a new market which looks to be there in the case of India,” he said.
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"The second has been technology... India has been able to help other countries by running their banks and retail chains using BPO sitting in India. So the technology part is also playing out. The third thing is geopolitics. Over the last 18 months (things) have moved in favour of India. I think India is going to do much better than probably rest of the world and that is why you can see in this rally, India has done better than others,” Chauhan gave his assessment.
Retail interest in the markets has increased by leaps and bounds since the pandemic started and the market nosedived in 2020.
“BSE is a retail exchange. It primarily caters to people who want to invest. So, over the last 1-1.5 years I think we have added close to 3 crore investors. This is almost 60 percent increase in investor accounts. Effectively we have reached 8 crore number of investor accounts,” said Chauhan.
Due to COVID, the governments across the world have created fiscal as well as monetary policies which are relaxed and because of that a lot of money is coming into the different economies, according to the BSE chief.
For full interview, watch the accompanying video...
(Edited by : Abhishek Jha)
First Published: Sept 27, 2021 3:22 PM IST
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