Most of the top ten stockbrokers reported their highest active investor additions in six months in August after the market delivered 2 percent returns in July
The country’s largest broking firm by active investors, Groww, accounted for 44 percent of the additions in August, to data available with the National Stock Exchange (NSE). shows.
Groww added 2.23 lakh active investors in August, which helped the firm to expand its market share from 27.5 percent in January to 29 percent in August. The wealth-tech firm had added 2.65 lakh active investors in February.
Bengaluru-based Sahi continued its stellar growth, adding around 25,000 new active investors, almost 10 percent of its total client base and stood at 2.53 lakh as of August.
The across-the-board growth followed foreign institutional investors' return to India and eased balance-of-payments concerns after Indian banks raised around $130 billion in FCNR(B) deposits over the last few months.