New Delhi [India], August 14 : July 2026 saw the number of demat accounts increase to 234.4 mn, registering 1.25 per cent month-on-month (MoM) growth. According to a report by 360 ONE Capital, total incremental demat account additions during the month reached 2.9 million, marking a 12.1 per cent MoM rise, aided by a recovery in market conditions.
"We believe improving market conditions should support investor participation, driving further improvement in new demat account openings and aiding client activation for brokers," the report said.
Central Depository Services Limited (CDSL) registered 188.3 million demat accounts, reflecting a 1.3 per cent sequential growth. The incremental additions for CDSL stood at 2.3 million, up 11.6 per cent MoM. Although this run-rate trailed overall industry growth and lowered its incremental market share by 40 basis points to 81.0 per cent, it marked the depository's highest monthly addition in five months.
National Securities Depository Limited (NSDL) recorded 46.2 million demat accounts, up 1.2 per cent sequentially. Its incremental additions stood at 0.55 million, advancing 14.5 per cent MoM and outpacing industry expansion, which lifted its incremental market share to 19.0 per cent.
"The incremental run-rate for new demat accounts remains an encouraging trend for depositories; however, the average incremental run-rate remains below FY26 and FY25 levels," the report noted.
On the exchange front, active clients on the National Stock Exchange (NSE) remained broadly stable across the first seven months of CY26, hovering around 45.5 million after bottoming out at 44.8 million in December 2025. In July 2026, active clients witnessed a marginal decline of 1.8 per cent MoM and contracted 3.6 per cent year-on-year (YoY).
The active client-to-total demat account ratio dropped by 25 basis points sequentially to 19.4 per cent in June 2026 due to the faster expansion in overall demat accounts.
Meanwhile, the number of live companies registered with depositories reached 166,757 in July 2026, growing 1.19 per cent MoM. Live companies registered with CDSL increased 1.09 per cent sequentially to 50,228, while those with NSDL rose 1.24 per cent to 116,529 during the period.
Regarding broker trends, the report highlighted that "The top three discount brokers maintained their positions, with Groww continuing to gain market share sequentially, up ~270 bps over the past 12 months. While Angel One lost 66 bps of market share over the same period, it maintained its market share in July 2026."