Major Indian online brokerages are opening U.S. stock trading to millions of retail clients, with Nvidia, SpaceX and Apple among the most popular names so far, CNBC reported¹.

Groww, which accounts for more than 29% of India’s 46 million active brokerage clients, started the feature earlier this month, co-founder and chief operating officer Harsh Jain told CNBC¹. The firm said it offers more than 10,000 U.S. stocks and ETFs, including fractional shares¹.

Zerodha, the second-largest platform by active clients, is beta-testing U.S. access and plans a launch in a few weeks, CNBC reported¹. Angel One is also planning a rollout, the report said¹.

Somnath Mukherjee of Zerodha told CNBC that weak local markets, a lack of domestic artificial-intelligence champions and a softer rupee are driving demand¹. India’s Nifty 50 has fallen nearly 13% this year while the S&P 500 has gained more than 12%, CNBC said, citing also a record $32.5 billion of foreign selling in Indian equities since January¹.

Resident Indians sent more than $321 million overseas for equity and debt investing in August, up 111% from a year earlier, according to Reserve Bank of India figures cited by CNBC¹. Investment’s share of outward remittances rose to about 11.7% from 5.8% a year earlier, Anand Rathi’s Tanvi Kanchan told CNBC¹.

Nitin Jain of Kotak Mahindra Asset Management Singapore said there is “big interest” in U.S. stocks, especially technology, and cautioned that regulators could have “second thoughts” as participation grows¹.

Sources

1. CNBCIndian investors rush to Nvidia, SpaceX, Apple as local trading apps roll out access to U.S. stocks8:00 PM

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