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19 Nov 2024
Demat account growth continues to surge, with over 4.55 million new accounts added in July, bringing the total to nearly 167 million, according to data from Central Depository Services (CDSL) and National Securities Depository (NSDL). This marks the fourth month this year with new additions exceeding 4 million. July's net additions were the highest since January, which saw a record of 4.68 million new accounts.
The steady increase in demat accounts reflects growing investor interest in direct equities. Factors such as easier digital onboarding, a strong pipeline of initial public offerings (IPOs), and a sustained market rally are attracting more individuals to the stock market.
Earlier this month, Ashishkumar Chauhan, CEO of the National Stock Exchange, highlighted that the exchange now has investors in almost every part of India, with only 30 pin codes—mostly airports—remaining unrepresented. In July, strong capital inflows from domestic and foreign portfolio investors (DIIs and FPIs) helped boost equity markets.
Despite higher capital market-related taxes, the Sensex and Nifty benchmarks both rose over 3 percent, while the broader Nifty Midcap 100 and Nifty Smallcap 100 indices outperformed, gaining 4.5 percent and 5.8 percent, respectively. FPIs invested nearly Rs 34,000 crore in July, with DIIs contributing over Rs 20,000 crore.
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