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New demat accounts surged to 4.3 million in February

Published 14-03-2024, 07:08 pm
© Reuters.  New demat accounts surged to 4.3 million in February
CENA
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New Delhi, March 14 (IANS) The total number of demat accounts increased to 148 million in February 2024, as per Motilal Oswal (NS:MOFS) Financial Services.New account additions surged to 4.3 million in February 2024 versus average monthly additions of 2.1 million in FY23.

In February 2024, CDSL (NS:CENA) continued to gain market share in terms of the total number of demat accounts and also an increase in the market share on a MoM basis. On a YoY basis, NSDL lost 380bp/920bp market share in total/incremental demat accounts, the report said.

The number of active clients at NSE increased 4.8 per cent MoM to 40.05 million in February 2024.

Currently, the top five discount brokers account for 63.5 per cent of total NSE active clients versus 59.6 per cent in February 2023.

Among the discount brokers, Zerodha reported a 3.3 per cent MoM increase in its client count to 7.2 million, with market share declining 30bp to 18 per cent. Angel One (NS:ANGO) reported a 5.2 per cent MoM increase in its client count to 5.9 million, with a market share of 14.9 per cent. Upstox reported a 4.1 per cent MoM increase in its client count to 2.5 million, with a marginal decline in market share to 6.2 per cent. Groww reported a 9.1 per cent MoM increase in its client count to 9.2 million, with a rise in market share to 22.9 per cent, the report said.

--IANS

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