The total number of Demat accounts in India has reached a new high of 151 million as of March 2024. There was a significant increase in new Demat account openings in March 2024, with 3.1 million new accounts added.
This trend seems to be continuing throughout the year, with an average of 3.1 million new accounts opened each month in the financial year 2024 (FY24), shows data analysed by brokerage Motilal Oswal.
The Indian benchmark Nifty rose 1.5 percent in March on the back of strong macro cues, hopes of a rate cut, continuous foreign investor inflows as well as overall positive global market trends. Moreover, the expectation of the current Narendra Modi government retaining a third term in the upcoming 2024 general elections also aided investor sentiment.
Among the two Depository Service Providers (DSPs) - CDSL and NSDL - CDSL is gaining market share. This means a larger proportion of new Demat accounts are being opened with CDSL.
CDSL's market share has been increasing both compared to the previous month (MoM) and the previous year (YoY).
NSDL, on the other hand, has lost market share year-over-year (YoY) for both the total number of Demat accounts and new account additions.
The number of active clients at NSE increased 1.8% month on month to 40.8 million in March 2024. Currently, the top five discount brokers account for 63.8 per cent of the total NSE active clients vs. 59.9 per cent in March 2023.
Zerodha, the leading discount broker, maintained its top position but experienced a slight decline in market share (20 basis points) despite a marginal increase (0.9% MoM) in its client base.
Upstox followed a similar trend with a small month-on-month rise in client count (0.6%) and a decrease in market share (around 10 basis points).
Groww, on the other hand, emerged as a significant player with a 3.8% MoM increase in client count and a notable market share gain of around 50 basis points.
Traditional brokers witnessed a mixed bag of results. ISEC, a prominent traditional broker, saw a slight decline (1.3% MoM) in its client base and a decrease in market share (around 15 basis points). IIFL Securities, however, managed a small MoM increase (0.3%) in client count but maintained a relatively steady market share (1.1%).
FAQs
The total demat accounts at the end of March 2024 stood at 15.138 crore. These include accounts both on the NSDL and the CDSL. The total number of demat accounts at the end of February had stood at 14.825 Crore. Hence an addition of 31.3 Lakh (3.13 million) demat accounts was seen during March 2024.
How many new demat accounts have been opened in India? ›
As the Indian stock market keeps touching new highs amid a record bull run, over 42 lakh new demat accounts were opened in June 2024.
What percentage of people have a Demat account in India? ›
Currently, just about 8% of Indians have Demat accounts, when compared to the country's overall population.
What is the trend of new Demat account opening? ›
The total number of demat accounts increased to 16.2 crore as of June 2024, with 42 lakh new accounts added in the month at an average monthly addition rate of 34 lakh so far in FY25.
Which is India's No 1 demat account? ›
Zerodha and Upstox are the two most poular Demat account in India. You can open a free Demat account with any of these recommended brokers and start online trading in equity, F&O, commodity, and currency segments. Zerodha offers free delivery trading and charges Max Rs.
Can I have 3 demat accounts in India? ›
Yes, you'll need to pay account maintenance charges as determined by the depository participant (DP). If you have multiple demat accounts, you'll be subject to paying more charges since each demat account is opened with a different DP.
Which state has highest demat account in India? ›
In terms of total number of accounts, Maharashtra continues to lead followed by Gujarat & Tamil Nadu.
Which city has highest demat account in India? ›
In the current financial year till July, Mumbai and Ahmedabad accounted for 67.8 per cent and 11.4 per cent, respectively, of the total cash market turnover on NSE, as per SEBI data. Tier 2/3 towns accounted for a large part of the growth in the number of demat accounts over the last two years.
Which is the most active users demat account in India? ›
Synopsis. In terms of active clients, Groww is now at the top with 6.6 million users, followed by Zerodha, which has 6.4 million active users.
What is the rise of demat accounts in India? ›
India's total dematerialised (demat) accounts — used for holding shares and other securities electronically — rose by over 4 million in August to cross the 170 million mark, led by a surge in initial public offerings (IPOs ). This marks an average addition of 4 million accounts monthly since 2024.
Statewise list of stock market investors in India. According to data from the Bombay Stock Exchange (BSE), Maharashtra emerges as the champion, boasting the highest number of registered stock market investors in India.
How much money should be there in demat account? ›
To understand these charges, you need to understand the reason and need for these trading charges. Before understanding the trading charges, you need to know that there is no minimum amount or balance requirement for a Demat account. You can keep your demat account empty or store all financial assets.
How many demat accounts are there in India in April 2024? ›
On the other hand, NSDL lost 400bp/470bp market share in total/incremental demat accounts on a year-on-year (YoY) basis. Shifting the focus to brokerage activities, the National Stock Exchange (NSE) saw a 2.6% month-on-month increase in active clients, reaching a total of 41.8 million in April 2024.
Which bank is best for demat account opening? ›
Features of The Top 10 Best Demat Accounts 2024
- Upstox. ...
- Aditya Birla Capital. ...
- 5Paisa Demat Account. ...
- Groww Demat Account. ...
- Axis Direct Demat Account. ...
- Kotak Securities Demat Account. ...
- SBICAP Securities Demat Account. ...
- HDFC Securities Demat Account.
Multiple Demat accounts and legality
It is legal to open multiple Demat accounts. However, it is not allowed to open multiple Demat accounts with the same brokerage firm. One can open multiple Demat accounts with full-time brokers and discount brokers simultaneously.
How many demat accounts are active in India? ›
The total number of Demat accounts in India has reached a new high of 151 million as of March 2024. There was a significant increase in new Demat account openings in March 2024, with 3.1 million new accounts added.
How many trading days in 2024 in india? ›
In the year 2024, there are precisely 252 days for trading activities. These days are exclusive of the weekends (Saturdays and Sundays) as well as the National Holidays falling on weekdays.
How many demat accounts are there in India in 2014? ›
In 2014-15, nearly 16 lakh accounts were added compared to 8.07 lakh accounts in 2013-14. "The pace in demat account growth is picking up and 85% of accounts opened in the past six months are from new investors," said GV Nageswara Rao, MD & CEO, NSDL, a depository participant.
