The Invest India Incomes and Savings Survey 2007 by IIMS Dataworks shows that the so-far cautious middle-income group aged between 41 and 50 years is increasingly being drawn to the equities market in the hope of big dividends. A majority of these 2.1 million individual earners are either businessmen or salaried employees while self-employed professionals comprise nearly 15% of this group.
More than a third of these individual earners, with average annual incomes of Rs6.4 lakh, were found to have already committed nearly all their savings into the equities market while equities constitute up to 30% of the portfolio of nearly 27% of this group. These investments were spread over 6 individual stocks on an average. But this should not be read as a vote in favour of the equities sector.