Central Depository Services (India) Limited continued its market dominance gaining market share in February 2024 in terms of the total number of demat accounts added. It has also seen an increase in market share on a month-on-month basis. On a YoY basis, NSDL lost 380 bps and 920 bps market share in total and incremental demat accounts, respectively, during the month.
NSE’s active clients increased for the eighth consecutive month by 4.8% MoM to over 4 crore in the month gone by.
Among discount brokers, Zerodha reported a 3.3% MoM increase in its client count to 72 lakh, though its market share witnessed a 30 bps dip to 18%. Meanwhile, Angel One reported a 5.2% MoM increase in its client count to 59 lakh with a market share of 14.9%. Upstox logged a 4.1% MoM increase in its client count to 25 lakh with a marginal decline in market share to 6.2%. Groww reported a 9.1% MoM increase in its client count to 92 lakh with a rise in market share to 22.9%.
Currently, the top five discount brokers account for 63.5% of total NSE active clients versus 59.6% in February 2023.
Among traditional brokers, ICICI Securities reported a 0.3% MoM decline in its client count to 19 lakh, with a decline in market share to 4.7%. Meanwhile, IIFL Securities reported a 2.7% MoM increase in its client count to 4 lakh with a market share of 1.1%.Overall ADTO (average daily turnover) was up 5% MoM to Rs 485 lakh crore with F&O ADTO increasing 132% YoY. The cash ADTO increased 3.7% MoM. The total ADTO from BSE increased 29% MoM to Rs 74 lakh crore led by growth in F&O volumes. On an MoM basis, the share of BSE in the total cash T/O segment improved to 8.3% in February versus 8% in January. The retail cash ADTO increased 3% on an MoM basis to Rs 53,300 crore up by 151% YoY.
On the contrary, total volumes on MCX declined MoM to Rs 25.6 lakh crore. Volumes in option futures declined 15.5% MoM to Rs 22.1 lakh crore with overall ADTO volumes declining by 11.6% MoM to Rs 1.2 lakh crore.
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