look news india
The number of new demat accounts being opened in the country continues to increase. The number of new demat accounts opened in July is the second highest in the last six months. Last January, 46.8 lakh new demat accounts were opened.
Whereas 45.5 lakh new demat accounts were opened in July. Which has increased the total number of demat accounts to 16.7 crores. These figures were presented in the data of Central Depository Services and National Securities Depository. The increasing number of demat accounts is an indication that the participation of retail investors in direct equity investment is increasing. This trend continues continuously. Despite the increase in capital market related taxes in the budget, the benchmark Sensex and Nifty rose by three percent last month. This is the fourth month in a calendar year, in which the number of new demat account openings has been above 40 lakhs. Last month i.e. in July, the number of new demat account openings has been the second highest after January. Last January, 46.8 lakh new demat accounts were opened. Currently, retail investors are easily investing in the stock market due to digitalization. Due to the strong number of new IPOs and the continuous boom in the stock market, people are being attracted to invest in the stock market. Stock markets hit new highs in July on the back of strong inflows of funds from regional and foreign investors. Despite the hike in capital market-related taxes in the budget, the benchmark Sensex and Nifty rose by 3 per cent last month.