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    INDIAN RESILIENCE

    May 13, 2022 5 minutes
    BY ASHISH RUKHAIYAR

    MANY BUSINESSES in India have aligned themselves with the idea of Aatmanirbhar Bharat or self-reliant India. Now, it is the turn of the stock markets. How can they be self-reliant? By not depending on foreign investors to drive a rally or a bull run. And the markets are well on their way. Let us consider some hard numbers. The overall stake of mutual funds (MFs) in the universe of companies listed on the National Stock Exchange (NSE) moved up for the third straight quarter in December 2021 to touch 7.4 per cent. If one takes into account only the elite Nifty 50 universe, then the stake inched up to 8.5 per cent—the highest level in two decades. Individual retail investors have also upped their overall stake in the Nifty 50 companies to 8.3 per cent, and 9.7 per cent in the complete NSE universe—the highest in nearly 14 years.

    Meanwhile, the stake of

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