22% surge in new demat accounts

Mumbai: New demat accounts opened in October exceeded 30 lakh, marking a 10-month high and a 22 per cent increase from 24.6 lakh in September, data from depositories showed.

Analysts attributed the surge to a rebound in equity markets, return of foreign fund inflows, and flood of initial public offerings (IPO) that has heightened investor interest. Total demat accounts reached a record 21 crore, up from 20.7 crore the previous month.

In October, India’s primary market saw a record number of mainboard IPOs, with 10 offerings aiming to raise over Rs44,930 crore, marking the largest monthly fundraising target in the country’s capital-market history. Analysts also attributed the spike to robust market conditions across broader indices. Equity benchmarks Sensex and Nifty rose in October, approximately 3 per cent, while the BSE Midcap and Smallcap indices gained 4 per cent and 3 per cent, respectively.