Demat Accounts (Image Source: iStock)
New Delhi: The total number of demat accounts in India surged to 17.5 crore by September 2024, according to a report by Motilal Oswal Financial Services. This reflects an addition of 44 lakh accounts in just one month. On average, 40 lakh new accounts have been added every month during the 2024-25 financial year so far.
CDSL Gains Market Share, NSDL Sees Decline
In September, Central Depository Services Limited (CDSL) managed to expand its share of the total demat accounts. Meanwhile, the National Securities Depository Limited (NSDL) lost 410 basis points (bp) of its total market share and saw a 90 bp drop in new accounts compared to the previous year.
The National Stock Exchange (NSE) also witnessed growth in its active client base, which reached 4.79 crore– marking a 2.4 per cent increase from the previous month.
Top Brokers Gain More Active Clients
The top five discount brokers now account for 64.5 per cent of the total active clients on the NSE, up from 61.9 per cent a year ago.
Zerodha
Added 1.1 per cent more clients in September, reaching 80 lakh, though its market share slipped to 16.6 per cent.
Groww
Increased its client base by 3.1 per cent to 123 lakh, boosting its market share to 25.6 per cent.
Angel One
Gained 3.1 per cent more clients, now at 74 lakh, with a 15.4 per cent market share.
Upstox
Registered modest growth of 1.5 per cent, reaching 28 lakh clients, but its market share dipped to 5.9 per cent.
Among traditional brokers, ICICI Securities reported 19 lakh clients, with a slight 10 bp drop in market share to 4.2 per cent. IIFL Securities held steady at 5 lakh clients, maintaining a 1 per cent market share.
Trading Volumes
The total Average Daily Turnover (ADTO) across all segments rose by 7.1 per cent month-on-month (MoM) to Rs 538.6 lakh crore in September. While cash segment ADTO fell by 3.8 per cent, the Futures & Options (F&O) segment grew by 7.2 per cent.
The Bombay Stock Exchange (BSE) recorded a 16 per cent rise in ADTO, mainly driven by F&O trading. However, its share in the cash turnover segment dropped to 6.6 per cent in September, compared to 7.4 per cent in August.
Notably, BSE’s market share in the options notional turnover segment surged to 26.8 per cent in September 2024, up from 7.4 per cent a year ago. Similarly, its share of options premium turnover jumped to 13.3 per cent, compared to 2.3 per cent in September 2023.
