CDSL maintained its market share in terms of total Demat accounts and saw a month-on-month increase. However, NSDL experienced a decrease of 390 basis points in total market share and 570 basis points in incremental Demat accounts on a year-on-year (YoY) basis.
Performance of key discount brokers
Zerodha reported a 0.9% MoM increase in client count to 73 lakh, with market share declining 20bps to 17.9%. Upstox reported a 0.6% MoM increase in client count to 25 lakh, its market share declined 10bps to 6.2%. Groww’s client count increased by 3.8% MoM to 95 lakh, while its market share rose 50bps to 23.4%.
Performance of key traditional brokers
ICICI Securities (ISEC) reported a 1.3% MoM decline in its client count to 18 lakh, with a 15bp decline in market share to 4.5%. IIFL Securities’ client count increased 0.3% MoM to 4 lakh, with a market share of 1.1%.
NSE active clients rose for the ninth consecutive month. The number of active clients at NSE increased 1.8% MoM to over 4 crore in March. Currently, the top five discount brokers account for 63.8% of the total NSE active clients vs. 59.9% in March 2023. However, NSE’s total Average Daily Turnover (ADTO) declined by 7% MoM.
The total ADTO decreased by 5% MoM (but increased by 95% year-on-year) to Rs 4,61,00,000 crore, with F&O ADTO falling by 5% and cash ADTO dropping by 16% MoM.BSE saw an 8% MoM increase in total ADTO, driven by growth in F&O volumes. BSE’s market share in the total cash turnover segment improved to 8.5% in March from 8.3% in February. Additionally, BSE’s market share in the total options notional turnover segment and options premium turnover segment improved to 17.5% and 7.2%, respectively, in March.MCX saw total volumes rise MoM to Rs 26,80,000 crore in March, with OPTFUT volumes increasing by 5.7% to Rs 2.34 crore. Overall ADTO volumes increased by 10.3% month-on-month to Rs 13 lakh, led by an 11% increase in OPTFUT ADTO volumes.
FUTCOM ADTO increased by 6% MoM, primarily due to a significant rise in gold ADTO by 101.5%, and silver ADTO declined by 32% MoM.
Options ADTO volumes rose by 11% MoM, driven by a 306% increase in gold ADTO and an 8% increase in crude oil ADTO, while silver declined by 65% MoM.
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