Groww adds over 70,000 active clients in July: NSE data

Luxury financial technology firm Groww added 70,119 active clients in July, far surpassing the overall broking industry's net gain of around 8,000 clients during the same period, as revealed by NSE active client data. As a result, Groww's active client base increased to 1.312 crore, raising its market share to 28.88 percent from 28.72 percent in June.

Zerodha experienced a decline in active clients by 38,725, now standing at 67.6 million, while Angel One remained relatively stable at 6.63 million following the addition of 286 net new clients. Overall, other prominent brokers saw mixed results in July: ICICI Securities added 11,748 clients, reaching 2.13 million; Upstox lost 26,433 clients, bringing its active client base to 1.86 million; Dhan expanded to 1.08 million by adding 14,166 clients; and Kotak Securities added 2,546 clients, reaching 1.38 million.

Various traditional brokers faced a decline in active clients in July, such as SBI Securities losing 47,551 clients and HDFC Securities shedding 9,169 clients. Motilal Oswal also reported a slight decrease of 1,748 clients. The July data highlighted an uneven growth pace in India's broking industry, with a minor overall increase in active clients despite select digital platforms achieving stronger additions.