Active Client Base of India’s Top Stock Brokers in July

The active client base of India’s top stock brokers remained consistent in July, with a total of 4.54 crore active clients, showing little change from June. Groww maintained its top position, adding the most active clients this month, while Sahi, led by former Swiggy CTO Dale Vaz, moved up two places, entering the top 20 with the highest month-on-month growth.

Market Leaders: Groww and Zerodha

According to NSE data, Groww led the market with 1.31 crore active clients in July, increasing its numbers by 70,119 users during the month. Its market share boosted to 28.88% in July.

Zerodha kept its second position despite a loss of 38,725 active clients in July, following a sharper decline of 45,971 clients in June. The active client count stood at 67.62 lakh in July, maintaining a market share of 14.88%.

Angel One and ICICI Securities

Angel One held onto its third place with 66.34 lakh active clients, adding 286 users in July, and a market share of 14.60%. Among the top five brokers, ICICI Securities welcomed 11,748 new active clients, reaching a total of 21.33 lakh; its market share stood at 4.69%. In contrast, Upstox experienced a decline of 26,433 users, finishing the month with 18.61 lakh active clients and a market share of 4.09%.

Kotak Securities, HDFC Securities, and More

Kotak Securities and HDFC Securities ranked sixth and seventh, respectively, with 13.82 lakh and 13.35 lakh active clients. Kotak added 2,546 users, while HDFC Securities saw a decrease of 9,169 clients this month.

Growth of Dhan and SBI Securities

Dhan rose one position to eighth place after gaining 14,166 active clients in July, boosting its user base to 10.87 lakh and market share to 2.39%. This advancement led to SBI Securities slipping to ninth, losing 47,551 active clients and maintaining a user base of 10.70 lakh with a 2.35% market share.

Motilal Oswal, Paytm Money, and INDmoney

Motilal Oswal continued to hold the 10th position, nearing 9 lakh active clients. Paytm Money and INDmoney followed closely, with 8 lakh and 7.06 lakh clients, respectively. Paytm Money lost 26,724 users, whereas INDmoney managed to add 6,747 clients during the same period.

Sahi’s Significant Growth

Sahi climbed two positions to reach 18th place in July, showcasing the highest month-on-month growth of 13.6% among the top 20 brokers. The platform welcomed 27,316 active clients in July, growing its user base to 2.28 lakh and market share to 0.50%. PhonePe’s Share.Market made a comeback in the top 20 list, with its active client base reaching 2 lakh.

Overall, the top five brokers comprised nearly 67% of the active client base in July, with Groww alone accounting for almost 29% of the market.