The number of dematerialised (demat) accounts required to hold shares and other securities in electronic format rose by 3.1 million in April, bringing the total tally to a fresh record of 154.5 million. Since December last year, the new additions have consistently remained above the 3 trillion mark, a sign that the stock markets continue to attract new investors despite a spike in volatility.
The March 2024 quarter was the best quarter for depository firms Central Depositories Services India Ltd (CDSL) and National Securities Depository Ltd (NSDL) in terms of demat account additions and the pace is showing little signs of ebbing.
"About 10 million plus demat accounts were opened in the fourth quarter of FY24, which is the highest in any quarter since our inception.
These kinds of achievements are a testament to the growing trust in the Indian capital markets," said Nehal Vora, MD & CEO, CDSL, the biggest depository in terms of a number of accounts handled.
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