 "Broking industry adds 2.8 mn new investors in Nov amid surging stock prices")
Close to 2.8 million dematerialised (demat) accounts were added in November amid a surge in stock prices and frantic primary market activity. Both domestic and global markets were buoyant last month amid a sharp retreat in US bond yields. The Nifty Smallcap 100 index rose 12 per cent, the most since February 2021. The Nifty Midcap 100 and the Nifty 50 index rose 10.4 per cent and 5.5 per cent, respectively, the most since July 2022.
The mainboard saw the launch of nine initial public offerings (IPOs) who together mopped up Rs 10,867 crore. Another 16 IPOs were launched by small and medium enterprises (SMEs). Typically, demat account additions get a boost during the launch of marquee IPOs. Tata Technologies’ Rs 3,042-crore IPO saw a record 7.34 million applications.
Also, a sharp U-turn in market secondary sentiment also helped draw new investors, said broking industry players. During the first 11 months of calendar 2023, nearly 25 million demat accounts have been added, lifting the total count to 135 million. During calendar 2022, 28 million accounts were added, a year-on-year growth of 28 per cent.
The mainboard saw the launch of nine initial public offerings (IPOs) who together mopped up Rs 10,867 crore. Another 16 IPOs were launched by small and medium enterprises (SMEs). Typically, demat account additions get a boost during the launch of marquee IPOs. Tata Technologies’ Rs 3,042-crore IPO saw a record 7.34 million applications.
Also, a sharp U-turn in market secondary sentiment also helped draw new investors, said broking industry players. During the first 11 months of calendar 2023, nearly 25 million demat accounts have been added, lifting the total count to 135 million. During calendar 2022, 28 million accounts were added, a year-on-year growth of 28 per cent.