The National Stock Exchange (NSE) witnessed a significant expansion in its active investor base in 2024, driven largely by the growing popularity of leading discount brokers. Over the year, NSE added 1.52 crore active investors, marking a 44% year-on-year growth and pushing the total to 5.01 crore accounts by December. Notably, three major discount brokerages-Groww, Angel One, and Zerodha-accounted for over 65% of these new additions.

Discount Brokers

Groww emerged as the frontrunner in attracting new investors, adding an impressive 60.66 lakh accounts, which represents 40% of the total growth. Angel One followed with 26.56 lakh new accounts, contributing 17.5%, while Zerodha added 15.2 lakh accounts, accounting for 10% of the overall expansion.

Market Rally

The bullish trend in Indian stock markets in 2024 played a crucial role in encouraging investor participation. Indices like the Nifty 50, Nifty Midcap 100, and Nifty Smallcap 100 delivered robust gains, enticing individuals to actively trade and invest. Experts highlight that positive market momentum often leads to heightened investor interest, as people seek to capitalize on the uptrend.

Rise of Emerging Players

While established brokers like Groww and Angel One dominated the numbers, smaller discount brokers recorded extraordinary growth.

Moneylicious Securities witnessed a staggering 200% increase in its active investor base, climbing to 9.33 lakh users. This growth propelled it into the top 10 brokerages, surpassing notable names like Paytm Money, Sharekhan, 5Paisa, and IIFL Securities.
Indmoney experienced a 266% surge, growing its user base to 7.92 lakh.
Mirae Asset Capital saw a 127% rise, reaching 5.53 lakh active users.
These emerging players are leveraging innovative technology, competitive pricing, and user-friendly interfaces to attract a larger share of the retail investor market.

Shifts in Market Share

The year also witnessed notable changes in market share dynamics among brokerages:
Groww gained 523 basis points in market share, reinforcing its dominant position.
Angel One added 65 basis points.
Smaller players like Moneylicious, Indmoney, and Mirae Asset Capital gained 180, 150, and 100 basis points, respectively.
Conversely, several established players faced declines in market share, including Zerodha, Upstox, ICICI Securities, HDFC Securities, SBI Cap Securities, and Motilal Oswal.