Yes Bank most sought after stock among Indians, searched over 3x more times than Microsoft
Infosys, State Bank of India (SBI) and Indian Railway Catering and Tourism Corporation (IRCTC) were the other Indian companies in the list of the top ten most desired stocks in India
November 26, 2020 / 03:24 PM IST
Yes Bank is the most sought after stock among Indian investors clocking in 90,000 online searches in a month, a report by Invezz.com showed.
The private sector bank was closely followed by e-commerce giant Amazon which saw an average of 89,200 online searches each
month for their stock and Apple that clocked 78,600 online enquiries per month.
Infosys, State Bank of India (SBI) and Indian Railway Catering and Tourism Corporation (IRCTC) were the other Indian companies in the list of the top ten most desired stocks among India, coming in at sixth, seventh and eighth spots with 38,000, 36,500, 35,800 online searches each month.
Among foreign companies, tech emerged as the preferred theme with all but one company stock making it on the list. Boeing (9) was the only other foreign company clocking in 30,000 online searches per month.
The survey conducted by Invezz.com also showed that for most Indians the primary reason (71 percent) for not investing in the stock market was their lack of knowledge. Lack of disposable income and riskiness of the stock market were other reasons holding back Indians from envisaging their investment journey in stock markets.
After hitting multi-year lows in March, the stock market rallied over 65 percent, to hit an all-time high, on the back of positive news flow on COVID vaccine, strong liquidity inflow and green shoots of economic recovery visible from macro data.
Even though the valuations are getting increasingly expensive the current bull run shows no signs of slowing down as visible from the over 10 percent rally by the benchmark and record inflows from foreign institutional buyers (FIIs) who have bought shares worth more than Rs 50,000 crore so far in November.