Demat accounts in India surge to 175 million

New Delhi: As Indian stock markets continue to outperform their 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, October 11.

The number of active clients on the National Stock Exchange (NSE) increased 2.4 percent (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 percent of total NSE active clients compared to 61.9 percent in the same month last year.

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 percent (on-month) increase in its client count to 8 million, with a 20bp fall in market share to 16.6 percent, Groww reported a 3.1 percent increase in its client count to 12.3 million, with a 15bp rise in market share to 25.6 percent.

Angel One reported a 3.1 percent increase in its client count to 7.4 million, with a 10bp rise in market share to 15.4 percent.

Upstox reported a 1.5 percent MoM increase in its client count to 2.8 million, with a 5bp fall in market share to 5.9 percent, the report said. ICICI Securities reported a client count of 1.9 million, with a 10bp dip in its market share to 4.2 percent.

According to the report, total overall average daily turnover (ADTO) grew 7.1 percent (on-month) to Rs 538.6 lakh crore, with futures and options ADTO rising 7.2 percent and cash ADTO declining 3.8 percent.