Demat accounts rise 33% in May on positive market sentiments; Zerodha sees marginal dip in clients

In May, demat accounts grew 33% MoM, with 2.1 million new additions. The total number of demat accounts reached 118 million in the month, with CDSL gaining market share in terms of total accounts and NSDL gaining on an incremental basis. The Nifty rose by 2.1% MoM with inflation easing and improved global trends. The number of active users on NSE marginally improved in May after declining for 10 straight months, with an overall retail ADTO flat MoM; however, retail cash ADTO recovered strongly increasing by 15% MoM. The top five discount brokers now account for 60% of overall NSE active clients.