NSE active clients rise to 33.4 million in Sept 2023; daily turnover swells to ₹335 trillion: Motilal Oswal
- Groww surpasses Zerodha with most active NSE clients. September sees rise in new Demat accounts and active NSE users. Angel One sees significant increase in daily orders: Motilal Oswal Financial Services
In its most recent report, domestic brokerage Motilal Oswal Financial Services said that although September ended with flat growth, the Nifty-50 increased by 800 points in the first two weeks. Due to the month-long volatility, the total average daily turnover (ADTO) volume increased 9% month-on-month (MoM) to ₹335 trillion, with strong support from F&O ADTO (up 9% MoM) and ongoing growth in cash ADTO (up 8% MoM).
With retail F&O ADTO rising 11% MoM and retail cash ADTO growing 9% MoM to ₹357 billion, overall retail ADTO increased 11% MoM to ₹120 trillion. September saw 3.1 million new Demat accounts, up from an average of 2.1 million per month in FY23. In addition, the number of active NSE users rose for a third month in a row, from 32.7 million in August to 33.4 million in September.
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Highest incremental demat account additions since January 2022
The brokerage report states that as of September 2023, there were 130 million demat accounts. In September 2023, the number of new account additions stayed consistent month over month at 3.1 million, continuing the trend of 2.1 million monthly additions in FY23.
“In Sep’23, CDSL continued to gain market share in terms of the total number of demat accounts and also on an incremental demat basis. On a YoY basis, NSDL lost 270bp/560bp market share in total/incremental demat accounts,” the brokerage said in its report.
NSE active client additions increase for the third consecutive month
At NSE, there were 33.3 million active user customers as of September, a 1.9% MoM rise. Up from 60.8% in August, the top five discount brokers now represent 61.9% of all active NSE clients.
Performance of key discount brokers
In September, Groww surpassed Zerodha to take the lead among brokers with the greatest number of active NSE clients. The number of orders placed on a daily basis has increased significantly for Angel One, which is mostly dependent on revenue from the food and beverage sector, said domestic brokerage Motilal Oswal Financial Services .
Zerodha said that its client base had increased by 1.9% MoM to 6.5 million, although its market share remained unchanged at 19.4%. Angel One announced that its client base had grown by 4.1% MoM to 4.9 million, and that its market share had increased by roughly 30 basis points to 14.6%.
Upstox reported a slight decrease in market share to 6.6% along with a 1.6% MoM gain in its clientele to 2.2 million.
Groww stated that its clientele had increased by 6.2% MoM to 6.6 million, and its market share had increased by roughly 110 basis points to 19.9%.
With 1.9 million clients, ICICI Securities reported a 2.1% MoM fall in client count and a roughly 20 basis point decline in market share to 5.7%. In addition to reporting a little drop in market share to 1.3%, IIFL Securities reported a 1.7% MoM reduction in its client count to 0.4 million.
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