Fewer New Accounts For Share-Trading Opened This Year, Market Volatility A Factor
NDTV
Till November 2022 this fiscal year, 1.7 crore demat accounts were added as compared to 2.2 crore during the year-ago period, says Economic Survey
The number of demat accounts rose to 10.6 crore in November 2022, a sharp surge of 39 per cent on yearly basis, Economic Survey 2022-23 said on Tuesday. However, the incremental additions of demat accounts have been on a declining trend during FY23 relative to FY22, probably because of the increased volatility in the secondary market and subdued primary market performance, amid prevailing global headwinds during the current financial year, it added.
During FY23 (till November 2022), 1.71 crore demat accounts were added as compared to 2.2 crore demat accounts during the year-ago period.
As per the survey, the number of demat accounts was at 10.6 crore in FY23 (till November 2022) from 7.66 crore at the end of November 2021, registering a growth of 39 per cent.
Market experts attributed the growth in demat to attractive returns from the equity markets, ease of account opening process and increased financial savings.
