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Retail investors shift back to secondary-market stocks in FY27
In FY27 to date, individuals bought a net ₹39,053 crore in NSE-listed shares in the secondary market, versus a net outflow of ₹5,803 crore in FY26, while IPO spending fell to ₹7,134 crore.
Retail investors in India have increased purchases of listed stocks in FY27 so far, reversing the unusual pattern seen in FY26 when individuals sold shares in the secondary market while continuing to invest in IPOs, according to data from the National Stock Exchange (NSE), as reported by LiveMint Markets. LiveMint Markets said the combined net retail equity investment in FY27 to date totals ₹46,187 crore, with nearly 85% going to the secondary market. In the NSE cash market, individual investors bought a net ₹39,053 crore worth of secondary-market shares during FY27 so far, compared with a net outflow of ₹5,803 crore during the whole of FY26. At the same time, primary-market investment in FY27 to date was ₹7,134 crore, substantially lower than ₹42,608 crore in the prior financial year. LiveMint Markets noted that the first four months of FY27, for which data is available, already show retail investment about 25% higher than the amount invested across all of FY26, but the increase is being deployed differently. The outlet said the shift reflects improved opportunities in selected listed companies after a market correction earlier in 2026, alongside a limited supply of attractive IPOs. Gurpreet Sidana, chief executive officer of InCred Markets, said both factors contributed to the change, citing valuations and the availability of compelling new issues.