BSE, Angel One, other capital market stocks tumble up to 3% as bears reign over benchmarks

BSE

Capital market stocks saw a sharp decline on February 24 amid a significant downturn in the stock market. The fall in the stock prices pushed Nifty Capital Markets index down by over 1 percent to 3,378.

The shares of Angel One were the top loser on the index, falling 3.42 percent to trade at Rs 2,276 apiece. The stock is currently trade over 35 percent down from its 52-week high of Rs 3,503 per share.

Nuvama shares followed, dropping over 3 percent to trade at Rs 5,440 apiece. Indian Energy Exchange (IEX) and Central Depository Services Limited (CDSL) also saw strong decline in their respective share prices. CDSL stock was  down around 2.6 percent at Rs 1,224.

The shares of Bombay Stock Exchange (BSE) meanwhile fell nearly 2.5 percent to trade at Rs 5,614 apiece. The stock is currently down over 8 percent from its 52-week high of Rs 6,133 per share which it had hit nearly a month ago.

The shares of Motilal Oswal Financial Services and KFin Technologies fell between 1 percent to 2 percent. The other capital market stocks that recorded marginal losses included MCX, Aditya Birla Sun Life AMC, HDFC AMC and CAMS.

Few capital market stocks, however, bucked the trend despite the strong downturn in the thematic index. The shares of 360 One WAM surged nearly 6 percent to trade at Rs 1,039 apiece. Notably, the stock is one of the 14 stocks, which are set to be added to the FTSE All-World Index from March 21 onwards.

UTI Asset Management Company, Nippon Life India Asset Management Limited and Anand Rathi Wealth shares traded in the green with minor gains.

As markets continue to see a persistent decline, retail investors' interest could be on the wane, which is considered a negative for the capital market stocks.

The momentum in new demat account openings has seen a gradual slowing over the past few months. According to data from depositories for January, the total number of new demat account openings dropped to a 14-month low of 2.83 million.

This comes after a sustained surge in demat account openings following the post-COVID stock market boom, which saw a wave of new investors entering the market. However, the markets have been in a correction phase since October 2024.