Top five discount brokers control 64.6 per cent of NSE volume in July

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.