Small investors!

Small investors have certainly become smarter. It is very evident during market falls when you see them not panicking like in the past. They have also become bolder as you see them actually buying when market falls. Between FY21-23 small investors (investing less than Rs 2 lakh) bought shares worth Rs 2.8 lakh crore taking their holding to over 25 percent in NSE-listed companies. This was the time when foreign investors were selling in the markets with a record $33 billion outflow. The retail investor scores over fund managers as their buying is small and has a lower impact cost, they can re-enter the market much faster than funds.