New Delhi, Sep 6 (IANS) India’s total demat accounts continue to rise, with over four million new ones added in August, as per the depositories’ data.
National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL) data showed that the total number of demat accounts in the country rose by over four million in August to 171.1 million.
The demat count was boosted by record IPOs in August.
Last month, 10 companies raised around Rs 17,000 crore via IPOs.
On average four million demat accounts have been added since 2024, monthly.
About 3.2 crore demat accounts have been opened in the first eight months of the current year.
The reason for opening of demat accounts in large numbers is also new IPOs in this calendar year.
More than 50 companies have raised Rs 53,419 crore through IPOs from the beginning of 2024 to August 31.
A study conducted by the Securities and Exchange Board of India (SEBI) said that a large number of investors are opening demat accounts only to participate in IPOs.
It was reported in the study that almost half of the demats used for IPO applications from April 2021 to December 2023 were opened after the pandemic.
The stock market has given excellent returns to investors in 2024.
Since the beginning of this year, Nifty surged about 15 per cent and 27 per cent in the last one year.
The Sensex rallied by 13 per cent since the beginning of this year and 24 per cent in the last one year.
The reason for the rise in the Indian stock market is the strengthening of the economy.
India’s GDP growth rate was 8.2 per cent in the financial year 2023-24, which is estimated to be 7.2 per cent in the financial year 2024-25.
–IANS
avs/rad
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
