Now trending in market: GenZ and Geography
investor accounts across the country in recent times.
One is the increased participation of the younger generation, while the other pertains to account additions from areas that have not historically participated in the equities boom.
Over the past 30 months, 12.7 million accounts have been opened by members of Generation Z, specifically those between 18 and 20 years old. According to BSE data, the number of accounts held by individuals aged 18-20 has risen to 16.1 million as of September 30, 2023, from a mere 3.4 million as of March 2021.
Investing Apps
Notably, this figure surpasses the number of accounts opened by individuals over 40 years of age, in the same period.
According to BSE data, in the last 30 months, 17.7 million accounts were opened by individuals in the 20-30 age group, whereas a maximum number of 36.8 million accounts were initiated by those in the 30-40 age group. As of September 30, this year, the cumulative count of accounts held by individuals between 30-40 years old reached 61 million.
Why the Influx
Young people, including college students, are increasingly taking to trading and investing, thanks to user-friendly investing apps, said market participants.
«Within the 18-20 years age group, there exists a segment of students who engage in learning and trading enthusiastically, occasionally achieving success through novel strategies,» said Prakarsh Gagdani, CEO, 5paisa Capital.
«However, a significant portion of this demographic simply opens trading accounts for subscribing to public offers, but hardly engages in actual trading.»
BSE monitors the unique client code (UCC), an essential identification number that brokers must maintain for their clients. It is important to note that a single UCC
