Mumbai (Maharashtra) [India], May 7 (ANI): Amid recent volatility in the Indian stock markets, Union Finance Minister Nirmala Sitharaman on Saturday said retail investors have played a key role in the markets in the last two years, especially acting as shock absorbers in difficult times.
“Indian retail investors have played a key role especially during the last two years; they have shown the world what they can do by standing up and becoming shock absorbers, unlike FPIs,” Sitharaman said while addressing the silver jubilee celebration of the National Securities Depository Limited (NSDL).
Foreign portfolio investors (FPIs) have emerged as net sellers in recent weeks. In the first week of May, foreign portfolio investors pulled out Rs 6,417 crore from the Indian stock markets.
The Finance Minister lauded the trust shown by the country’s retail investors in the equities market.
“From an average of 4 lakh new demat accounts opened every month in 2019-20, it tripled to 12 lakh per month in 2020-21 and has further increased to around 26 lakh per month in 2021-22,” the minister said. (ANI)