According to Motilal Oswal Financial Services, the total number of Demat accounts in India increased to 17.5 crores in September 2024. 44 lakh new Demat accounts have been opened in 1 month. This has increased the average monthly growth to 40 lakhs for the financial year 2024-25.

In September 2024, Central Depository Services Limited (CDSL) has achieved an increase in its share in total demat accounts. In contrast, National Securities Depository Limited (NSDL) has declined, declining 410 bp in total market share and 90 bp in incremental demat accounts year-on-year.

Active client numbers on NSE The number of active clients on the National Stock Exchange (NSE) has also increased, growing 2.4 per cent month-on-month to 4.79 crores. The top five discount brokers now account for 64.5 per cent of the total active clients on NSE, up from 61.9 per cent in September 2023. Zerodha's market share decreased Several discount brokers have reported significant client growth. Zerodha added 1.1% MoM to reach 80 lakh clients, although its market share fell to 16.6 per cent. Groww saw its subscriber base grow 3.1 per cent to 12.3 million, taking its market share to 25.6 per cent. Angel One's market share rises to 15.4 per cent Angel One also grew 3.1 per cent to 7.4 million subscribers, with a market share of 15.4 per cent. However, Upstox saw a marginal rise of 1.5 per cent, taking its subscriber base to 2.8 million, while its market share fell to 5.9 per cent. ICICI Securities reported 1.9 million subscribers, taking its market share down 10 bp to 4.2 per cent. IIFL Securities had 5 lakh subscribers. Its market share was 1 per cent.