Good news for all the stock market investors in India. They can now directly start trading of 8 US stocks at the NSE IFSC.
NSE IFSC exchange is a subsidiary of the National Stock Exchange (NSE), and it has been given the green signal by the Securities and Exchange Board of India (SEBI) to facilitate trading of US stocks.
NSE’s International Financial Services Centre (IFSC) platform in Gujarat’s GIFT City on Thursday started trading in eight US stocks.
Indian stock investors can now buy and sell stocks of 8 reputed companies listed in the US.
The companies are: Alphabet Inc (GOOGL), Amazon Inc (AMZN), Tesla Inc (TSLA), Meta Platforms (FB), Microsoft Corp (MSFT), Netflix Inc (NFLX), Apple Inc (AAPL) and Walmart Inc (WMT).
Earlier, stock investors in India had to route their investments through a registered broker in the US to buy shares of US listed companies.
Now investors will be able to use it for trading transactions through NSE IFSC’s registered brokers.
The number of tradable stocks will be increased in a phased manner. Soon, stocks of about 50 US companies will be available for trading by Indian investors, sources in NSE informed Northeast Now.
Sources said Indian investors may soon get to trade stocks of Berkshire Hathaway, Master Card, JP Morgan Chase, Morgan Stanley, Nike, Paypal, Pepsico, Pfizer and Intel.
Sources said investors will now be required to open a trading and demat account with an NSE IFSC registered broker. There are 36 registered brokers now on the NSE IFSC platform.
Investors will have to transfer funds to the NSE IFSC brokers’ account to start trade in the US stocks under the liberalised remittance scheme (LRS).
The Reserve Bank of India has set a limit of $ (US) 2,50,000 to each investor per financial year for investment in the US stocks.