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NUMBER OF THE WEEK
More than 4.55 million demat accounts were added in July, according to data from the Central Depository Services and the National Securities Depository.
The total demat count rose to nearly 167 million. This is the fourth month in 2024 that new additions have topped 4 million. Net additions in July were the highest since January, when a record 4.68 million customers opened new demat accounts. The rapid increase in demat account numbers points to the strong interest retail investors have in direct equities currently.
While digital onboarding has made it easier to join the equity market, a strong initial public offering pipeline and rising markets have drawn many to the stock market. First-time investors in equities should approach the markets carefully, all the more so on account of the recent bout of volatility. A recent report by the Securities and Exchange Board of India found that 71 per cent of intraday traders incurred losses averaging Rs 5,371 in 2022-23. Instead of betting blindly, investors should learn fundamentals-based, buy-and-hold investing.
First Published: Aug 09 2024 | 9:13 AM IST
