Total Demat Accounts Increased to 151 Million in March 2024 New account additions surged to 3.1 Million

Total Demat Accounts: The number of demat accounts in the country has increased to 151 million (15.1 crore) by March 2024. A total of 3.1 million (31 lakh) new demat accounts have been added in the month of March while during the financial year 2023-24 also an average of 3.1 million new demat accounts have been opened every month.

15.1 crore demat accounts

Giving information about new demat accounts opened, Motilal Oswal Financial Services said that in March 2024, the total number of demat accounts in the country has increased to 15.1 crore. The total number of shops opened in the month of March has increased to 31 lakh. CDSL has the highest share in terms of total number of demat accounts. CDSL has won in terms of month after month basis. At the same time, the market share of NSDL has decreased on year-on-year basis. The market share of NSDL demat accounts has declined by 390 basis points and that of incremental demat accounts by 570 basis points month on month.

Share of discount brokers increased

According to the report, the number of active clients on NSE has increased by 1.8 percent month-on-month to 40.8 million in March 2024. The share of top five discount brokers in the total active clients of NSE is 63.8 percent, which was 59.9 percent in March 2023 last year. Zerodha's client count has increased by 0.9 percent month on month to 7.3 million. Whereas the market share has declined by 20 basis points to 17.9 percent. The client count of Upstox has increased by 0.6 percent month on month and has increased to 2.5 million. Its market share has declined by 10 basis points to 6.2 percent. Groww's client count has increased by 3.8 percent to 9.5 million and its market share has been 23.4 percent.

The share of traditional brokers is decreasing

Among traditional brokerage houses, the market share of ISEC (ICICI Securities) has come down to 4.5 percent, while the market share of IIFL Securities has increased to 1.1 percent. One thing is clear from this that most of the new demat account holders are joining discount brokers.

read this also-

Vodafone Idea FPO: Vodafone Idea's FPO is coming, the company has fixed the price band at this much