Mumbai1 minute agoAuthor: Gurudutt Tiwari
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The ‘Hindi speaking states’ which were considered economically backward are showing their strength after Covid. In Uttar Pradesh (UP), share investors increased by almost four and a half times in 4 years. Investment in mutual funds also increased by almost three times. The trend is almost the same in Madhya Pradesh (MP), Rajasthan and Bihar.
In MP, investors in shares increased by 4.75 times and those in mutual funds increased by 3 times. Jewellery purchases also increased by 55%. Rajasthan has reached the fourth position in the number of share investors, leaving behind Karnataka, Tamil Nadu, Delhi and Andhra Pradesh.
Share market investors in Bihar increased 4 times
In these four years, share investors in Bihar have increased 4 times, mutual fund investors have increased 3 times and gold purchases have increased by 89%, which is the highest compared to other states. However, this increase is surprising because the average income of people in these states has increased less in proportion to investment. In these states, income increased from 50% to 70% in four years.
According to data think tank ‘Price’, the states which were backward are developing rapidly. Boom towns are developing here. Cities like Jaipur, Kota, Patna, Indore, Bhopal, Lucknow are boom towns. The number of people earning more than one crore rupees annually has increased here. Due to this, the number of people investing in shares, mutual funds and gold has increased rapidly here.
The number of stock investors increased the fastest in Bihar
Currently, the total investment in mutual funds in the country is Rs 64.68 lakh crore. Investment in this fund has increased by 203% in MP and 190% in UP in four years. The purchase of gold jewellery has increased the most in Bihar in four years.
Southern states are also lagging behind. On the basis of the number of people investing in the stock market, UP has overtaken Gujarat and secured the second position. Bihar, which was counted among the lagging states, has come in the top-11.
North Indians are taking more risk, FD money is in the market
A large amount of money from fixed deposits (FDs) has come into the stock market. This has happened more in North Indian cities. They are taking more risk. South Indian states have been avoiding risky asset classes like the stock market. Therefore, there has been no unexpected increase in the number of investors and the amount invested there in 4 years. –Adil Shetty, CEO, BankBazaar.com
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Biggest withdrawal ever from SIP account: Investors withdrew Rs 14,367 crore, only 50% of the funds performed better than the benchmark in 3 years
A total of Rs 14,367 crore was withdrawn from the Systematic Investment Plan (SIP) accounts of mutual funds in July. This is the highest level of withdrawal from mutual fund accounts so far. The trend of withdrawal has been seen for the past several months. This is more than the growth in investment.
According to Anand Rathi Wealth Deputy CEO Firoz Aziz, this withdrawal shows that investors have booked huge amounts of profit after continuous profit making for the past several months. At the same time, the instability created by the budget announcements also affected investor sentiment.
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