– The share of top 5 discount brokers in NSE’s total user base decreased to 60.8 percent
Updated: Sep 23rd, 2023
Ahmedabad: After the boom in the Indian stock market that started from April stopped at the end of July, the market again crossed a new all-time high in August, and the Nifty has seen a historic level of 20,000 for the first time. The active client base of the National Stock Exchange increased for the second consecutive month in August.
According to the data, NSE added more than 8 lakh active users in August. With this, the total number of users on the platform has increased to 3.27 crore. According to data provided by the exchange, the number of active users in August was 3.27 crore, which is 2.5 percent higher than July’s figure of 3.19 crore users. Thus last month 8.02 lakh users have increased.
After a one-year decline, the number of NSE’s active clients increased for the second consecutive month. In July 2023, NSE added more than 1 million users. The top 5 discount brokers currently account for 60.8 percent of NSE’s total user base, compared to 61.2 percent a month ago.
According to market experts, optimism remains in domestic markets. After the 20,000 level in July 2023, more human comfort is pouring into the stock market on the prospect of the economy accelerating further in the coming Diwali and later the 2024 elections in hopes of support from the government. A rally in mid and small-cap stocks continued to attract retail investors. Apart from this, the bumper returns of growing IPOs and small IPOs are also important contributors to the increase in user base.
India’s largest stockbroker Zerodha saw a 0.5 percent increase in customer base to reach 64 lakh. The number of customers of Angel One has increased by 2.4 percent to 47 lakhs.
CDSL’s market share in terms of total number of demat accounts and additional demat basis continues to grow. Year-on-year NSDL has lost 2.60 percent/8.10 percent market share in total/incremental demat accounts.