A new study has revealed that India is one of the most stock-obsessed countries in the world. Rather it was at the second spot just below Singapore as per the study, which analysed Google Trends data of search terms frequently used by people interested in stocks and trading.
The study, compiled by UK financial services provider CMC Markets, stated that Singapore ranks as the country most interested in stocks and trading. With a total search score of 555 out of a possible 700, Singapore topped the list for its population having the highest search levels for the phrases ‘stocks’, ‘buy stocks’, and ‘interest rate’ worldwide.
In India, the second-highest proportion of its population searched for the phrases ‘stock market’ and ‘swing trading’. India stood second with a total search score of 492.
Stock enthusiasts in Canada place the country at the third spot of the countries most interested in stocks worldwide. The North American country has the second-highest level of searches for the term ‘invest in stocks’, in addition to being the country searching for ‘buy stocks’ the third most worldwide, giving Canada a total search score of 462.
The US was at the fourth spot, with a total search score of 453 out of 700. Investors and enthusiasts in the US searched for both terms ‘invest in stocks’ and ‘stock market’, and also
India’s equity market, with a market capitalisation of Rs 281.18 lakh crore for 5,309 companies, is one of the biggest in Asia, and among the top five in the world. The Indian stock markets outperformed most global markets this year, making investors take back a decent amount as returns, in terms of market capitalisation, by more than Rs 16.36 lakh crore by the end of 2022.
According to data from major stock benchmarks compiled by Bloomberg in December 2022, Indian stocks attracted nearly $6 billion from international investors in the last quarter of 2022.