A report from Motilal Oswal Financial Services said tha the capital market sentiment of India Inc was volatile in Mar’23, with the Nifty hovering in the lower 17,000s for most of the month. Overall ADTO volume inched up sharply by 13% MoM to INR237t, led by a 17% MoM increase in F&O volumes, whereas cash volumes were muted during the month. The number of total demat accounts increased to 114m in Mar’23.
An incremental number of new accounts added stood at 1.9m in Mar’23 v/s 2.1m in Feb’23, registering a MoM decline of 8%. Additionally, this figure is significantly lower than the average of 2.9m new accounts added per month in FY22. In terms of the total and incremental demat account market share, CDSL continues to gain on an MoM basis. On a YoY basis, NSDL lost 230bp/730bp market share in total/incremental demat accounts.
The total number of active user clients at NSE declined sequentially for the ninth consecutive month to 9.4% YoY and 2.7% MoM to 32.6m in Mar’23. The intensity of the fall was higher at 0.9m accounts in Mar’23 v/s 0.7m in Feb’23. Currently, the top five discount brokers account for 60.0% of the overall NSE active clients, an increase from 59.6% in Feb’23.
