Indians increasingly investing in global technology stocks: Report
Investing in US stocks is synonymous with FAANG stocks, however, Tesla, Nio and Riot Blockchain were the top three stock preferences by Indians
Most Indians investing in international markets have shown interest in technology stocks, followed by electric mobility, blockchain and cryptocurrency firms in 2020, according to a report by Winvesta.
The report is a nationwide study that encapsulates investment behavior among Indians on the Winvesta platform between 27th March 2020 and 20th March 2021.
“We’ve seen the appetite for international investments increase. Themes that aren’t available in India have started becoming more popular. We have seen Indians investing in electric mobility, blockchain and cryptocurrency firms,” the Winvesta Investor Pulse report said.
Investing in US stocks is synonymous with FAANG stocks, however, Tesla, Nio and Riot Blockchain were the top three stock preferences by Indians. FAANG stands for Facebook, Amazon, Apple, Netflix and Alphabet (formerly Google). According to the report, FAANGs make up only 17% of the total stock investments.
“This ratio has been trending downwards since the beginning of last year as other high-growth stocks like Tesla, Nio and Riot took the lead from the tech giants. Apple, Amazon and Microsoft continued to be among the top 10 most popular stocks on the platform,” the report said.
According to the report, the bulk of Indian investors are 25-40 years old. Also, 25% of the investor base on the Winvesta platform is from metros-Delhi, Mumbai, and Bengaluru. The report also suggests that a majority of the investors in global markets are male (96%), while women made up only 6% of the total investor base.
“Even though women dominate the consumption economy, and often take lead in savings planning, their participation in investing lags significantly,” the report said.