Mumbai: Data released by authorities revealed that the number of demat account opening has surged in August. Demat account openings hit 19-month high in August. Data released by Central Depository Service and National Securities Depository has revealed this.
Demat Account is an account that is used to hold shares and securities in electronic format. The full form of demat account is a dematerialised account. In India, demat accounts are maintained by two depository organizations: the National Securities Depository Limited and the Central Depository Services Limited.
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As per data, over 31 lakh demat accounts were opened in August. This is the highest account opening rate since January 2022. In July this year, the total number of demat accounts opened were 29.7 lakh. It was at 21 lakh in August 2022. The total demat tally crossed 12.66 crore. This is up 2.51% from a month ago and 25.83% from a year ago.
Meanwhile, India’s equity benchmark indices Sensex and Nifty have lost around 2.5% each in August while broader markets BSE MidCap and SmallCap have advanced nearly 2.6% and 6.1%, respectively.
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