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Business News/ Markets / Stock Markets/  Demat accounts rise to 15,14 million in March 2024, up 32.25% year-on-year: March month new additions at 31.3 Lakh
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Demat accounts rise to 15,14 million in March 2024, up 32.25% year-on-year: March month new additions at 31.3 Lakh

Stock Market Today: Demat account additions surged to 31.3 Lakh in March 2024 taking total number of demat accounts to 15.14 Crore . FY24 saw 3.692 crore new demat account additions compared to 2.67 Crore additions in FY23

Demat accounts rise to 151.38 million in March 2024, up 32.25% year-on-yearPremium
Demat accounts rise to 151.38 million in March 2024, up 32.25% year-on-year

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 demat account additions are likely to have been driven by sharp gains in the indices. The Nifty and Sensex have continued touching fresh highs.

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. 

The total number of demat accounts stood at 114.46 million (11.45 Crore) at the end of March 2023 and hence 3.69 crore  new demand accounts were added during FY24. This marks a rise of 32.25% on year on year basis.

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The run rate of new demat account additions during last 12 months of FY24 was at 3.07 million (30.7 Lakh) per month.

The run rate of new demat account additions had surged sharply since the month of December 2023. Months of December, January and February saw more than 4 million demat account additions each month.  January had seen the sharpest 4.60 million (46 Lakh) demat account additions.

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.

For the eleventh straight month, NSE's active clientele has increased suggested Motilal Oswal Financial Services data (MOFSL).

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.

In terms of performance of key discount brokers,  Zerodha reported a 0.9% month on month gain in its clientele to 7.3 million, but a 20bp decline in market share at 17.9%.  Upstox, on the other hand saw its clientele increase by 0.6% Month on month suggested MOFSL data.

 

 

 

 

 

 

 

 

 

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ABOUT THE AUTHOR
Ujjval Jauhari
Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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Published: 17 Apr 2024, 01:09 PM IST
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