Angel One overtakes Zerodha for second place among NSE active investors, Groww remains top

Angel One surpassed Zerodha to become the second-largest discount broker on the National Stock Exchange (NSE) by active investors in October, according to exchange data. The broker reported 69.98 lakh active investors at month-end, up by 2.43 lakh during the period, while Zerodha recorded 67.6 lakh. Groww retained the lead with 1.37 crore active investors, almost double the figures of Angel One and Zerodha.

The NSE defines an active investor as one who has executed at least one trade on the exchange in the preceding 12 months. Angel One’s October business update highlighted a 17.4% year-on-year increase in its total client base, reaching 4.06 crore, and a 1.6% sequential rise from September.

Client acquisitions rose 44.7% month-on-month to 6.6 lakh, marking the broker’s strongest monthly addition in nine months. Trading activity also improved, with average daily orders up 19.6% to 69.7 lakh and total orders climbing 13.9% to 139.31 million, both hitting seven-month highs.

Average daily turnover (ADTO) increased 25.3% sequentially to Rs 56,244 billion, and the retail futures-and-options (F&O) ADTO rose 25.9% to Rs 53,149 billion. Angel One’s retail F&O market share grew to 23.2% in October, up from 22.5% in September and 21.6% a year earlier. Overall equity retail market share rose to 20.5% from 19.6% in September.

However, cash turnover market share fell to 15.9% from 16.2%, and commodity turnover market share declined to 38.4% from 41.7%. Commodity ADTO reached a record Rs 3,027 billion, a 16.4% month-on-month increase.

The brokerage also reported a 19.1% sequential rise in assets under management, reaching Rs 16,000 crore for the September quarter.

Angel One’s shares closed 0.4% lower at Rs 324.75 on the NSE on Friday, compared with the previous close of Rs 326.15.