Discount broker Upstocks claims that 70 percent of its more than 4 million customers are first-time investors and younger than 36 years. Upstocks is supported by Ratan Tata and Tiger Global. It is worth noting here that in the year of the epidemic, more than 20 million new investors have entered the market, according to old brokers.
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1.42 crore new Demat Accounts opened in National Security Deposit and Central Deposit Services during the financial year 2020-21. This is three times the number compared to the 49 lakh opened last year. The market declined sharply in the first half of 2020, but the market has gained a whopping 68 per cent since then. This has resulted in a large number of new investors coming into the market. Due to limited spending options, people had more money on their hands. During this time, as gold prices rose, property prices fell. This makes it better for large numbers of people to invest their money in stocks.
This is also reflected in record foreign investment. 35 billion in FDI in the financial year 2020-21. Ravi Kumar, co-founder and CEO of Upstocks, told PTI, “In the last financial year, our customer base has grown to over 20 lakhs. In this way our total number of customers has crossed 40 lakhs. 80 percent of these are between the ages of 18 to 36 years. And 70 percent of our clients are first-time investors. ”
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