Indian Stock Market: Demat Accounts Surge to 175 Million in India, Active Clients on NSE Reach 47.9 Million in September
As Indian stock markets continue to outperform its global peers, the number of demat accounts increased to 175 million in the month of September, from 171 million in August, a report showed on Friday.
New Delhi, October 11: As Indian stock markets continue to outperform its global peers, the number of demat accounts increased to 175 million in the month of September, from 171 million in August, a report showed on Friday. The number of active clients on the National Stock Exchange (NSE) increased 2.4 per cent (on-month) to 47.9 million in September.
The new account additions jumped 4.4 million in September, with average monthly additions of 4 million in current fiscal to date, according to the report by Motilal Oswal Financial Services. Currently, the top five discount brokers account for 64.5 per cent of total NSE active clients compared to 61.9 per cent in the same month last year. Centre Announces Integration of UMANG App With DigiLocker to Provider Citizens Seamless Access to Government Services.
Central Depository Services Limited (CDSL) continued to gain market share in terms of the total number of demat accounts. On a year-on-year basis, National Securities Depository Limited (NSDL) lost 410bp/90bp market share in total/incremental demat accounts, according to the report.
While online brokerage Zerodha reported a 1.1 per cent (on-month) increase in its client count to 8 million, with a 20bp fall in market share to 16.6 per cent, Groww reported a 3.1 per cent increase in its client count to 12.3 million, with a 15bp rise in market share to 25.6 per cent. Angel One reported a 3.1 per cent increase in its client count to 7.4 million, with a 10bp rise in market share to 15.4 per cent. SBI Massive Hiring Announcement: Government-Owned Bank To Hire 10,000 Employees, Open 600 New Branches in India as Part of Expansion Strategy.
Upstox reported a 1.5 per cent MoM increase in its client count to 2.8 million, with a 5bp fall in market share to 5.9 per cent, the report said. ICICI Securities reported client count at 1.9 million, with a 10bp dip in its market share to 4.2 per cent. According to the report, total overall average daily turnover (ADTO) grew 7.1 per cent (on-month) to Rs 538.6 lakh crore, with futures and options ADTO rising 7.2 per cent and cash ADTO declining 3.8 per cent.
(The above story first appeared on LatestLY on Oct 11, 2024 12:51 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).