Home / Markets / Stock Markets /  Indian investors traded global stocks for over $120 mn in March quarter: Report

Indian investors traded global stocks worth over $120 million in the March quarter of the financial year 2020-21, according to a study by Stockal, a fintech facilitating global investment.

According to the report, monthly trading activity on the Stockal platform jumped from $20-$25 million in February 2020 to $42 million in January 2021.

Most of the trading interest had been in sectors like consumer, technology, healthcare and communication services with the top picks being Tesla, Microsoft, Apple, Amazon, Nio, Nvidia, AMC, Netflix, Google and Facebook. 

The data has been derived by analyzing the investing behavior of 81,467 registered users who have conducted about 556,658 transactions worth $378 million until 31 March 2021. 

Demographically, Stockal investors over 40 years constituted about 50% of the trade transaction volumes, the age group between 30-40 years did about 30% of the trades, and those under 30 years of age did 20% of the trading.

Users with less than 15 lakh income placed 30% of all trades. Users with under 50 lakh of annual income were responsible for 71% of trades on Stockal.

In the past 15 months during the Covid-19 pandemic, assets invested by Indians through the platform grew from $8 million to $110 million. IPOs like Coinbase, Airbnb, Snowflake and DoorDash attracted a lot of attention from Stockal users with queries increasing about 150% from Indian investors.

Stockal has over 45,000 overseas investing accounts from India and is looking at expanding its user base through strategic distribution alliances.  Investors can gain access to over 3500 US-listed companies, invest in fractional stocks, and expert curated portfolios on Stockal, the company said.

The platform recently announced partnerships with IIFL and Scripbox. In all, Stockal has partnered with 89 financial services providers like HDFC bank, Motilal Oswal, Geojit, and Emkay Global. 

“The average user on Stockal has about 7-8 stocks in his or her portfolio and the average portfolio value is 10,000 USD. Investors are diversifying away from tech stocks to pharma companies, airlines and companies that are expected to benefit from Biden’s infrastructure plan. The hit to Chinese tech stocks listed in the US has affected Indian investors but this has limited impact in a diversified portfolio. Users are increasingly looking for portfolios they can buy rather than constructing these from the ground up. We have partnered with institutions like Global X (owned by the international Mirae Asset Group) to offer such portfolios called ‘Stacks’," said Sitashwa Srivastava, Co-CEO, Stockal.

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