 "Only 30 pin codes in India with no investors: NSE MD, CEO Ashish Chauhan")
There are only 30 pin codes across the country where there are no investors, Ashish Chauhan, MD & CEO, NSE, revealed the surprising numbers on Friday.
“There is a theory that countries with low per capita income cannot have good capital markets. But today, there are only around 30 pin codes, most of them airports, where people do not stay for even a full day,” he was quoted as saying by Moneycontrol.
Chauhan made the remarks at the 21st Annual Capital Markets Conference, CAPAM 2024 - Capital Market Reforms 2.0 for the Viksit Bharat event being held in Mumbai. The event has been organised by the Federation of Indian Chambers of Commerce & Industry.
In his address, Chauhan highlighted the growing public interest in capital market investments, which he said has jumped from the initial two million investors to 100 million direct investors. On Nifty hitting the 25,000 point mark on Thursday for the first time, he said that it was a product of the hard work of 30 years.
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Recently, more retail investors have shown interest in stock market investing as they are moving away from traditional investment strategies.
Investors under 30 years of age
According to stock broker Angel One, as of May 31, over 40 per cent of Indian stock market participants are younger than 30 years of age.
Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch was among the other dignitaries at the event. In her address, Puri highlighted that India ranks number one in the total number of IPOs and issuances anywhere in the world. IPOs or Initial Public Offerings are a way for private companies to offer shares to the public for the first time.
On Tuesday, India’s market cap crossed $5.5 trillion for the first time. The impressive feat was achieved by the country nearly 17 years after its combined market capitalisation reached $1 trillion on May 28, 2007. At present, India is the world’s fourth-largest stock market.