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During the COVID-19 pandemic, more and more Indian women have joined the stock market to increase their savings.
Sakina Gandhi, a 31-year-old public relations practitioner, has found a new passion: stock trading. Before this year, I had only invested in funds with lower risk than stocks.
But when India entered a strict lockdown in March, Gandy found he had plenty of time. “I have time to read the market information,” he said. “I only looked at the market for the first 15 days. I made a list of stocks and analyzed their fluctuations. After consulting several colleagues, I bought those stocks.”
It turns out that this is a profitable option.
Gandy, a 31-year-old publicist, found a new passion through stock trading under the epidemic.
The market was concerned about the impact of the epidemic, and the share price fell sharply and remained sluggish due to the lockdown measures that affected the Indian economy. But as investor sentiment rebounded, stock prices quickly rebounded. Reliable stocks withstood the test of the storm and valuations for some companies have risen substantially since then. With the number of new confirmed crown cases declining and the momentum in vaccine news, the stock price is still at a high level.
On the other hand, India’s high unemployment rate, negative economic growth and other macroeconomic factors have put the economy in trouble.
Stock Market Investors Rise
This also explains why professional women like Gandy want to earn some extra money. These women are not a minority.
“The number of new female investors will definitely increase,” said Nikhil Kamath, co-founder of the Zerodha joint-stock company.
After the COVID-19 outbreak in India earlier this year, approximately 235,000 of the company’s more than 1.5 million new customers were women. Kamath said this represents about half of his female investors, whose average age is 33.
FYERS Securities, another securities brokerage firm, told the BBC that the number of active female traders in the company has tripled.
The new corona epidemic has caused an increase in the number of new users of electronic accounts in India.
According to data from the Securities and Exchange Commission of India (SEBI), the regulator of the Indian market, between April and September this year, India opened approximately 6.3 million new electronic accounts. This is more than double the total of 2.7 million in the same period last year.
Stock brokerage firms reported that many of these investors are young women.
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Indian women generally like to deposit money in banks.
Why is it happening now?
The 36-year-old Ritika Shah’s family has long invested in stocks, but never before. “I have been waiting for the right moment. This pandemic has given me time to plan my financial situation. I have time to research, learn and follow up,” he said.
Some Indian experts analyzed that women are generally more “inclined to invest than to trade.” In other words, they buy traditional assets like gold or store their money in a safe place like fixed deposits and, more recently, tax-efficient mutual funds.
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The lockdown period has also become a good time to enter the market. Sha said the March share price was the deciding factor.
Kamath said that while fixed deposits are safe, the fund’s appeal has diminished, encouraging people to start investing directly in stocks. Therefore, he added that attention is turning to the capital market because “the valuations of large capital companies with solid fundamentals are highly discounted.”
Technology and streamlined processes have also contributed to this insanity.
Cheap data allows investors to keep an eye on the stock market, while online banking and trading accelerates buying and selling. To attract new investors, many brokerage firms charge almost no commission. Companies have also started educating investors about the stock market (scientific disclosure) and the number of visits to their websites has also increased.
The biggest stimulus comes from the Securities and Exchange Commission of India, the market regulator, which relaxes account opening standards for electronic accounts used to trade stocks and allows for electronic signatures and digital lockers, for so paperwork can be quickly processed at home during the pandemic.
And those who decide to try have already begun to enjoy the process. Gandy said that he pays attention to stock information in the newspaper every day and also sets up news alerts on Google for companies that interest him.
She said: “This is my money. My husband and nobody has a voice. So I thought why not take a little risk and see what happens. Actually, the result is good.”
