Brokerage industry undergoing big transformation: IIFL Securities chairman

CY23 will be a very topsy-turvy year for equity markets, but it will also be excellent for long-term investors looking for sharp market dips to build strong positions: IIFL Securities chairman

It has been a choppy year thus far for global equity markets. R VENKATARAMAN, chairman, IIFL Securities, in conversation with Puneet Wadhwa, says that calendar year 2023 (CY23) will remain a very topsy-turvy year for equity markets with plenty of trading opportunities. However, it will also be an excellent year for long-term investors looking for sharp market dips to build positions in strong companies. Edited excerpts:

Dematerialised (demat) account openings hit their lowest level since December 2020 in April. Do you see it as rationalisation after a good run during the work-from-home period, or is market volatility keeping investors at