 "New demat account additions hit 7-month low in November, shows data")
The number of new dematerialised (demat) accounts added in November dropped to less than 3.2 million, the lowest since April 2024. This marks the second consecutive month of decline in new account additions amid market turbulence triggered by foreign portfolio investors (FPIs) selling and earnings disappointments.
Despite this, a total of 42.83 million new demat accounts have been added in the first 11 months of 2024, taking the total count to 182 million. Market players expect the pace to pick up in December with stability returning to the market and upcoming IPO launches.
The number of demat accounts in India has skyrocketed since Covid-19 driven by simplified account opening, widespread smartphone and data adoption, and favourable market returns. Demat accounts have more than quadrupled since March 2020, when the tally stood at less than 41 million.