Shares of Angel One are trading with gains of over 9% on Thursday. The stock has snapped a five-day losing streak, during which the stock had corrected by 15%.
Angel One is also among the worst performing stocks on the Nifty Smallcap index since it made its peak on February 8 this year. Since then, the stock had corrected nearly 30% as of Wednesday's close. The stock, on a standalone basis, had corrected nearly 40% from its own record high of ₹3,896.
A report from brokerage firm Motilal Oswal stated that the total number of demat accounts in the country increased to 148 million in February 2024. This compares to the 144 million number in January and 113 million in February 2023.
New account additions surged to 4.3 million last month, compared to average monthly additions of 2.1 million in financial year 2023.
"Angel One, which relies heavily on income from the F&O segment, has witnessed a strong increase in the number of daily orders placed," Motilal Oswal wrote in its note.
The broking firm also reported a 5.2% month-on-month increase in NSE active client count to 5.9 million, with a market share of 14.9%, which is similar to the levels it had in January.
Shares of CDSL are also trading with gains in today's trading session. Motilal Oswal wrote in its note that CDSL continued to gain market share in terms of the total demat accounts and also an increase in market share on a month-on-month basis.
On a year-on-year basis, NSDL lost 380 basis points market share in total demat accounts.
Shares of Angel One are trading 8.9% higher at ₹2,691.55, while those of CDSL are trading 1.8% higher at ₹1,715.
