Retail investors keep faith in India despite Adani rout

Individual stock investors in India are keeping faith in the country’s Rs 256 lakh crore 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 Rs 10.8 lakh crore 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.