Number of demat accounts in India rises to 175 million

New Delhi|The Indian stock market is performing better than its global counterparts. Meanwhile, the number of demat accounts increased to 175 million in the month of September, from 171 million in August, according to a report released on Friday.

The number of active clients on the National Stock Exchange (NSE) (on a monthly basis) rose from 2.4 per cent in September to 47.9 million.

The number of new accounts increased by 4.4 million in September, compared to an average monthly increase of 4 million so far in the current fiscal year, reports Motilal Oswal Financial Services.

The top five discount brokers currently hold 64.5 per cent of NSE’s total active customers, compared to 61.9 per cent in the same month last year.

Central Depository Services Limited (CDSL) continued to gain market share by taking the total number of demat accounts.

According to the report, on an annual basis, National Securities Depository Limited (NSDL) lost 90 BP market share out of 410 BP in total/incremental demat accounts.

Online brokerage Zerodha reported a 1.1 percent increase in its client base on a monthly basis, now rising to 8 million, while market share declined by 20 basis points to 16.6 percent.

GROW has registered a 3.1 per cent increase in the number of its customers, which has now risen to 12.3 million, while achieving a 15 basis point increase in market share to 25.6 per cent.

Angel One reported that its clientele increased by 3.1 per cent to 7.4 million and market share increased by 10 basis points to 15.4 per cent.

Upstox reported a 1.5 percent monthly increase in the number of its customers, which now stands at 2.8 million, compared to 5.9 percent with a 5 basis point decline in market share, the report said.

ICICI Securities put the number of customers at 1.9 million, while it fell by 10 basis points to 4.2 percent in market share.

According to the report, the total average daily turnover (ADTO) increased by 7.1 per cent on a monthly basis to Rs 538.6 lakh crore, with futures and options ADTO growing by 7.2 per cent and cash ADTO falling by 3.8 per cent.