We have seen a substantial increase in the new customers to open the account. The new accounts which are getting opened are millineals who are mostly in the age bracket of 28-35 years.
Indian market is delicately balanced at this juncture, and the new age investors are making the most of it by investing in quality stocks to build long term portfolio, B. Gopkumar, MD & CEO, Axis Securities said in a podcast ‘D-Street Talk’ with Moneycontrol.
“We have seen a substantial increase in the new customers to open the account. The new accounts which are getting opened are millennials who are mostly in the age bracket of 28-35 years. Brokerage houses also made the journey comfortable for investors to come in and join digitally,” said Gopkumar.
If we analyse the buying pattern, Gopkumar said that investors are buying quality stocks. Although there is a narrative in the market that retail investors are buying penny stocks but that is not true to a large extent.
Most of the top 10 brokerage houses do not allow investors to buy penny stocks. I don’t see much of penny stock buying. Also, the trend in Axis Securities suggests that the new investors have pushed delivery volume which means that they are building portfolios.
“We have seen substantial improvement in the quality of stocks that they are buying. As a brokerage house we also have products for customers to build portfolios,” added Gopkumar.
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