New Delhi, Sep 10
Top discount broking firms continued to lose their active investor base in August. Groww, Zerodha, Angel One and Upstox - India's four bigshot discount broking firms - lost around 7 lakh clients combined.
Mirae Asset Capital, Indstocks, HDFC Securities, PhonePe Wealth, Sharekhan, Kotak Securities, and Motilal Oswal Financial also saw a drop in active clients in August as a result of the slowdown in investor activity.
Paytm Money, SBICAP Securities, and ICICI Securities were able to defy the trend. Paytm Money saw the biggest gains with nearly 11,983 new clients, SBICAP Securities increased its clientele by almost 7,400, and ICICI Securities added roughly 6,512 active clients during the month.
Speculative trading has become less appealing as a result of the SEBI's stricter regulations regarding margins, derivatives expiration windows, capital limits, and taxes