The monthly SIP addition remained above three million for the second month in a row. The SIP addition was 12.5 million accounts in the past 12 months. The net addition in August was 1.6 million, the highest in 23 months. The total SIP account tally reached a record 69.7 million.
​What is going to happen is that eventually the stock prices finally has to find its support in terms of the earnings growth. And in the long term, it is the earnings growth that is what is going to define the percent increase in the stock price.
The monthly SIP addition remained above three million for the second month in a row. The SIP addition was 12.5 million accounts in the past 12 months. The net addition in August was 1.6 million, the highest in 23 months. The total SIP account tally reached a record 69.7 million.
Finance Minister, Nirmala Sitharaman, highlighted the growth of India s financial ecosystem at the Global Fintech Fest 2023 in Mumbai. She noted the increase in Demat accounts and mutual funds, with cities beyond the top 30 contributing significantly to the financial ecosystem