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Indians venture into U.S. stocks as markets slump at home

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Indians venture into U.S. stocks to escape tumbling markets at home by abhiruproy30

FILE PHOTO: United States flags fly outside of the New York Stock Exchange as markets continue to react to the coronavirus disease at the NYSE in New York, U.S., March 18, 2020. REUTERS/Lucas Jackson

With more mom-and-pop investors chasing overseas stock investments that were until now a hobby of the wealthy, brokers that help investors navigate these trades through India’s highly restrictive cross-border investment rules are thriving. Vested Finance, an investment firm that helps Indians buy or sell U.S. stocks, opened 4,000 new accounts in March, double that in February. The company usually sees a 30% rise in account openings each month.

Pranav Mehta, who owns an electronic parts manufacturing company, is one such investor. As his business hit a downturn, Mehta bought one share each of Amazon.com (

 

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