Groww, Angel One, Zerodha drive 65% of NSE’s 2024 investor surge

Among the new additions, Groww led the way with 60.66 lakh new investors, representing 40% of the total

The National Stock Exchange (NSE) experienced remarkable growth in 2024, adding 1.52 crore active investors, with over 65 percent—around 1 crore—coming from three leading discount brokers: Groww, Angel One, and Zerodha. These platforms have solidified their dominance, driving a significant portion of the market's investor expansion.

By December 2024, the NSE’s active investor base had grown by 44 percent year-on-year, reaching 5.01 crore accounts. Among the new additions, Groww led the way with 60.66 lakh new investors, representing 40 percent of the total. Angel One followed with 26.56 lakh new investors, accounting for 17.5 percent, while Zerodha added 15.2 lakh accounts, contributing 10 percent of the overall growth.

This impressive expansion is largely attributed to a robust market rally, with indices like the Nifty 50, Nifty Midcap 100, and Nifty Smallcap 100 delivering strong gains. Industry experts point out that bullish market conditions encourage greater participation, as more individuals actively engage in trading.

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Additionally, few smaller discount brokers witnessed extraordinary growth. Moneylicious Securities saw a 200 percent increase in its active investor base, reaching 9.33 lakh users and surpassing established players like Paytm Money, Sharekhan, 5Paisa, and IIFL Securities to enter the top 10 biggest discount brokerages. Indmoney recorded a 266 percent surge, growing its base to 7.92 lakh, while Mirae Asset Capital experienced a 127 percent rise, reaching 5.53 lakh active users.

Market share dynamics also shifted significantly. Among top brokerages, only a few saw increases in market share, with Groww gaining 523 basis points, Angel One 65 basis points, Moneylicious 180 basis points, Indmoney 150 basis points, and Mirae Asset Capital 100 basis points. In contrast, major players like Zerodha, Upstox, ICICI Securities, HDFC Securities, SBI Cap Securities, and Motilal Oswal experienced declines in market share, reflecting the growing influence of emerging players in reshaping the brokerage landscape.

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