Demat accounts rise to 15,14 million in March 2024, up 32.25% year-on-year: March month new additions at 31.3 Lakh

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Demat accounts continued to rise at a fast pace with total demat accounts crossing the 15.1 crore mark at the end of March'2024. The demat account additions are likely to have been driven by sharp gains in the indices. The Nifty and Sensex have continued touching fresh highs.

The total demat accounts at the end of March 2024 stood at 15.138 crore. These include accounts both on the NSDL and the CDSL. The total number of demat accounts at the end of February had stood at 14.825 Crore.

Hence an addition of 31.3 Lakh (3.13 million) demat accounts was seen during March 2024. The total number of demat accounts stood at 114.46 million (11.45 Crore) at the end of March 2023 and hence 3.69 crore new demand accounts were added during FY24. This marks a rise of 32.25% on year on year basis.

Also Read-Tesla share price falls 37% in 2024 as Elon Musk's EV maker suffers demand slowdown; market value drops below $500 bn The run rate of new demat account additions during last 12 months of FY24 was at 3.07 million (30.7 Lakh) per month. The run rate of new demat account additions had surged sharply since the month of December 2023. Months of December, January and February saw more than 4 million demat account additions each month.

January had seen the sharpest 4.60 million (46 Lakh) demat account additions. The average per month demat account additions thereby at 3.07 million per month has increased sharply from 2.3 million per month demat account additions seen during FY23. For the eleventh straight month, NSE's active clientele has increased suggested Motilal Oswal Financial Services data (MOFSL).