India is on the chariot of the rising stock market as demat accounts continued to rise at a fast pace with total demat accounts crossing the 15.1 crore mark at the end of March 2024.
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.
In March, it registered an addition of 31.3 Lakh as the total number of demat accounts at the end of February had stood at 14.825 crore.
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omparing on the yearly basis, the total number of demat accounts spiked by 3.69 crore as they stood at 114.46 million (11.45 Crore) at the end of March 2023. This marks a rise of 32.25% on year on year basis.
The demat account additions are likely to have been driven by sharp gains in the indices. The Nifty and Sensex have continued touching fresh highs.
In the last 12 months, the run rate of new demat account additions was at 3.07 million (30.7 Lakh) per month.
Further, the average per month demat account additions thereby at 3.07 million per month has increased sharply from 2.3 million per month demat account additions seen during FY23.
Data from the Motilal Oswal Financial Services data (MOFSL) suggested that for the eleventh straight month, NSE’s active clientele has increased.
The number of active clients at NSE increased 1.8% month on month to 40.8 millio in March’24. At present , the top five discount brokers account for a 63.8% of the total NSE active clients, which also is an improvement over 59.9% in March ’2023.
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