Indian Investors Rush to Buy Nvidia, SpaceX via Local Apps — SkimNews
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- Groww rolled out U.S. equity trading earlier this month, offering access to over 10,000 U.S. stocks, ETFs, and fractional shares, with Nvidia, SpaceX, Apple, Alphabet, Amazon, Micron, and Meta emerging as top picks among users.
- Zerodha, India’s second-largest trading platform by active clients, has begun beta testing U.S. stock access and plans a full launch in weeks, citing strong latent demand for global equities.
- Angel One, a brokerage with 6.7 million active retail clients, is reportedly preparing to launch U.S. stock trading, joining a growing shift toward international diversification.
- Indian investors sent $321 million overseas for equity and debt investments in August, up 111% year-on-year, with investment now making up 11.7% of total outward remittances, up from 5.8% a year ago.
- India’s Nifty 50 has dropped nearly 13% year-to-date while the S&P 500 gained over 12%, fueling investor interest in U.S. markets amid local underperformance and lack of Indian AI champions.
- Nitin Jain of Kotak Mahindra Asset Management Singapore noted retail investors favor rising assets, comparing current U.S. tech stock enthusiasm to past crypto frenzies among Indian investors.
Why it matters: As Indian investors shift capital abroad amid a weakening rupee and strong U.S. market returns, rising outflows could amplify currency pressure just when foreign investors are already pulling $32.5 billion from Indian equities, complicating central bank stability efforts.
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