Active Clients Decline Among India’s Top Stock Brokers in June

Active clients within India’s leading stock brokers saw a decrease in June, as the industry lost approximately 137,000 clients compared to the previous month. The total number of active clients fell to 45.4 million from 45.5 million in May. Groww maintained its top position, whereas Sahi, guided by former Swiggy CTO Dale Vaz, made its mark in the top 20 brokers by achieving the highest net client growth for the month.

Performance of Major Brokers

According to NSE data, Groww continued to lead the stock brokerage sector, even though it saw a reduction of 6,004 active clients in June. The platform ended June with 13 million active clients, accounting for a 28.72% market share. Zerodha held onto the second spot with 6.8 million active clients and a market share of 14.96%, despite a drop of 45,971 clients during the month. Angel One trailed closely, with 6.63 million active clients and a 14.59% market share, experiencing the sharpest decline among the top three with 50,390 clients leaving.

Market Position of Other Brokers

ICICI Securities ranked as the fourth-largest broker, boasting 2.12 million active clients and a market share of 4.67%. It was one of the few firms to report net additions, welcoming 15,781 new clients. Upstox ranked fifth with 1.88 million active clients and a 4.15% market share, despite losing 36,417 clients in June. Following them, Kotak Securities and HDFC Securities had 1.38 million and 1.34 million active clients, holding 3.04% and 2.96% market shares, respectively.

Emerging Trends Among New Brokers

Among the top 10 brokers, Dhan continued its strong performance, adding 11,307 active clients to reach a total of 1.07 million, achieving a 2.36% market share. Motilal Oswal also had a good month, adding 5,564 active clients to finish June with 899,000 active clients and a market share of 1.98%.

Positions of Other Notable Brokers

Paytm Money, INDmoney, and Sharekhan filled the next three spots with 826,000, 699,000, and 525,000 active clients, respectively. While Paytm Money experienced a decline of 19,881 clients, INDmoney managed to gain 6,128 clients in June. Sahi, also known as Aaritya Broking Ltd, made a notable entry into the top 20 brokers for the first time, boosting its active clients by 27,742, the most significant monthly increase amongst all brokers. Sahi concluded June with 201,000 active clients, capturing a 0.44% market share and securing the 20th position in the rankings.