In India, practically 76% of the respondents are first-time traders: Groww survey
NEW DELHI: Groww, an funding platform, introduced the findings of its survey on monetary investments most popular by Indian traders forward of the competition season.
According to the survey, “India’s increased financial literacy coupled with the pandemic has led to a steep rise in the investor community, especially among the younger population. According to the survey, nearly 76% of the respondents are first-time investors, and 69% of respondents have been investing for less than a year. Seasoned investors who’ve been in the market for more than 5 years account for only 5.7%. Of the total survey respondents, Gen Z (18-24 years) and Gen Y (25-30 years) lead the chart as first-time investors, with 39% and 34% respectively.”
The survey was performed with traders aged 18 and above to know if the competition season impacts their funding choices. The survey particulars completely different funding avenues and functions which might be useful to unlock the potential of this market.
Stock market engaging to younger traders
View Full PictureInvestment sample
Key highlights: Overall, amongst traders, shares and mutual funds high the charts, at 87% and 58% respectively.
Decoding the aim driving India’s investments throughout the festive season
View Full PictureInvestment objective
Key highlights: The high 2 drivers for investments might be creating long-term wealth and normal financial savings. The survey additionally highlights that retirement planning is without doubt one of the high funding priorities for traders aged 40 years and above. On the opposite hand, tax financial savings doesn’t affect funding choices, with solely 3% of traders contemplating transferring their investments within the tax-savings asset class choices, this festive season, as per the survey
Analyzing the influence of the festive season on Indian traders
View Full ImageFestival season and Investment choices
Key Highlights: Overall, greater than 80% respondents stated the festive season could have no influence on their funding plans, and 30% respondents aged between 18-30 years are planning to take a position greater than normal, indicating optimistic sentiments of investing throughout the festive season. Of the full respondents, 35% of traders aged 31-40 years and 34% of traders aged 25-30 years will plan to take a position lower than normal. This is primarily as a result of 45% of respondents are planning smaller purchases (buying), 19% plan to get their houses renovated and 18% are planning greater purchases resembling a automotive, devices and others, as per the survey.
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