The Indian Stock Market has seen a remarkable number of 15.1 Cr Demat Accounts by the end of March 2024, this upward trajectory reflects a significant increase in investor participation, driven by robust gains in the market indices. The stock market is riding high on a wave of investor enthusiasm as the number of demat accounts surged past the 15.1 Cr mark by the end of March 2024.
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Record-Breaking Growth
Now, the total number of demat accounts including those on the National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), reached a staggering 15.138 Cr by March 2024.
With an impressive spike of 3.69 Cr compared to March 2023 when the total stood at 11.45 Cr, the surge in demat accounts opening is even more pronounced. This translates to a remarkable YoY increase of 32.25% underscoring the growing popularity of stock market investments among Indian investors.
Driving Factors
Moreover, this uptick in the rise of the Demat account can be attributed to the sharp gains witnessed in the market indices, with both the Nifty and Sensex consistently reaching new highs. Investors are increasingly drawn to the potential for lucrative returns offered by the stock market, fueling a steady influx of new participants.
Accelerated Growth Rate
Over the past 12 months, the new demat account addition rate has maintained a robust pace, averaging at 3.07 million per month. This represents a significant increase from the average monthly additions of 2.3 million seen during the previous financial year (FY23), indicating a growing appetite for stock investments among retail investors.
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Rise in Active Clients
The recent data released by Motilal Oswal Financial Services (MOFSL) reveals that the number of active clients at NSE has been on a consistent upward trajectory. In March 2024, NSE’s active clientele increased by 1.8% Month on Month and reached a total of 40.8 million. Notably, the top 5 discount brokers now account for 63.8% of the total NSE active clients, marking an improvement from 59.9% in March 2023.
