Indian Stock Market Active User Trends

The Indian stock market’s active user base has seen a decline, dropping from a high of 49.67 million in January to 47.89 million in June. Nevertheless, there was a 2% month-on-month increase last month, rising from 46.93 million in May.

Leading Brokers in Active Users

Groww continues to lead the market in active users, holding a 26.27% market share, even though its user count fell by 1.67%, reaching 12.58 million in June from 12.79 million in May, as per NSE data.

Zerodha’s Position

In the second position, Zerodha maintained a market share of 15.58% with 7.58 million users. However, this was a decrease of 2.23% from the previous month’s total of 7.75 million users.

Angel One’s Growth

Angel One stands in third place with a market share of 15.28% and 7.32 million users, closing the gap with Zerodha.

Performance of Other Brokers

Upstox and ICICIdirect secured the fourth and fifth spots, respectively. Upstox, backed by Ratan Tata, holds a market share of 5.37% but experienced a decline of 3.36%, bringing its user base down to 2.57 million. ICICIdirect retained a steady user base of 1.95 million, resulting in a market share of 4.07%.

Traditional Brokers’ User Growth

Among traditional brokers, HDFC Securities recorded growth with 1.58 million users, marking a month-on-month increase of 1.32%. Similarly, SBI Securities also achieved growth, reaching 1.01 million users with a 1.65% uptick. On the other hand, Kotak and Motilal Oswal experienced declines of 0.86% and 1.07%, respectively.

Emerging and Other Notable Brokers

Emerging broker Dhan held onto its 10th position with 1 million users, reflecting a market share of 2.08%. Paytm Money saw an increase of 2.74%, reaching a user base of 7.24 lakh, while Sharekhan experienced a decline of 2.46%, resulting in a client base of 6.25 lakh. Both brokers remain among the top 20 stock brokers.

PhonePe’s Declining User Base

In contrast, PhonePe’s Share.Market appears to be struggling, with a user base decrease of 3.52% in June, leading to a total of 3.47 lakh users.