June 7, 2021 12:06 PM
17 Lakh Demat accounts in a month; As Nifty did well in the month of January, Zerodha boss Nithin Kamath noted that the broker industry saw more investor coming in with more than 17 lakh Demat account being created in just a matter of one month.
And pointing out how big it was for the broking industry itself, Kamath explained: The best year for the markets since 2010 was by far 2014. Nifty was up more than 30% and the industry added 13 lakh new Demat accounts in 1 year.
Last month, the equity benchmark indices scaled new record highs with Sensex crossing the 50,000-mark for the first time. The bull run on D-Street was largely on the back of favourable global cues as investors hoped for more economic stimulus from new US President Joe Biden.
This was, however, followed by major market corrections in the coming days then again a recovery phase later in February. Backed by the gains in February, NSE Nifty also crossed a major milestone by hitting the 15,000-mark for the first time.
Kamath took to Twitter earlier today pointing out that along with the markets the broking industry also saw major gains in January and said: How big was Jan 2021 for the broking industry? The best year for the markets since 2010 was by far 2014.
17 Lakh Demat accounts in a month: Nifty was up more than 30% and the industry added 13 lakh new Demat accounts in 1 year. And, Jan 2021, just in 1 month 17 lakh new Demat accounts were added.
Explaining how the Nifty movement influences broking industry, he also tweeted: Here’s the yearly Demat addition for the last 20yrs.
Stockbroking is as high beta as it can get. When someone asks for my view on the future, I usually ask them for their view on Nifty. The last boom & bust was in 2007-08, took 10 yrs to get back to those numbers.