Individual stock investors in India are keeping faith in the country’s $3.1 trillion equity market even after a punishing selloff in Adani Group shares threatened to drag down one of the world’s best-performing indexes since the pandemic.
Hanoz Mistri is among the small investors in India who believe the carnage that has wiped off about $131 billion from the value of Adani shares won’t damp the long-term prospects for the nation’s equities. The ship-broker, who previously owned Adani group stocks, plans to continue investing in companies such as commodity businesses that benefit from India’s expanding middle class.
“India is a great consumption story and I am confident this journey will continue,” Mumbai-based Mistri said in a phone interview.
