MUMBAI: Discount brokers continue to chip away market shares from traditional and full-service brokerages by increasing their market share to 64.6 per cent in July from the 58.1 percent last year..
Meanwhile, brokerages added 4.5 million new demat accounts in July, taking the total to 167 million in August. This is the average monthly account addition of 3.9 million, according to the data collated by the traditional brokerage Motilal Oswal sourcing data from the exchanges and NSDL and CSDL.
The top five discount brokers accounted increased the number of active clients on the NSE by 3.2 per cent to 45.7 million in July, the brokerage said.
Groww toppled Zerodha to become the top brokerage in terms of clients in August 2023, and continues to add more clients and market share in July recording 4.9 per cent.
On the other hand, Zerodha continued to lose market share as it added only 1.7 percent more clients to 7.8 million in the reporting month, and lost 25 bps from market share to 17.1 percent.
Angel One reported a 3.8 per cent growth in its client count to 7 million, adding 10 bps to market share to 15.3 percent, while Upstox clocked a 2.7 percent increase in its client count to 2.7 million, and controlled a 6 percent market share and 5Paisa lost 44 bps of its market share to 1.2 percent.
On the other hand, traditional brokers led by ICICI Securities, which is being delisted reported client count at 1.9 million, and lost 10 bps from its market share to 4.2 per cent. IIFL Securities added 0.5 million new clients and had just 1 percent market share.
While the proposed F&O curbs have had an impact on NSE volume, it did in fact help BSE increase its volume share. The market share of BSE in the total cash segment came in at 7.1 per cent in July, up from 6 per cent in July 2023.