The active client base of India’s top stock brokers remained stable in July, with total active clients at 4.54 crore, largely unchanged from June. Groww retained its lead and added the highest number of active clients during the month, while Sahi, led by former Swiggy CTO Dale Vaz, climbed two spots to enter the top 20 after recording the highest month-on-month growth. According to NSE data, Groww continued to lead the market with 1.31 crore active clients in July, adding 70,119 users during the month. Its market share increased to 28.88% in July. Zerodha retained the second position despite losing 38,725 active clients in July. The decline followed a sharper drop of 45,971 clients in June. Its active client base stood at 67.62 lakh in July, while its market share remained at 14.88%. Angel One remained in third position with 66.34 lakh active clients, adding 286 users in July. The broker held a 14.60% market share. Among the top five brokers, ICICI Securities added 11,748 active clients to reach 21.33 lakh, while Upstox lost 26,433 users and ended the month with 18.61 lakh active clients. Their market shares stood at 4.69% and 4.09%, respectively. Kotak Securities and HDFC Securities occupied the sixth and seventh positions with 13.82 lakh and 13.35 lakh active clients, respectively. Kotak added 2,546 users, while HDFC Securities lost 9,169 clients during the month. Dhan moved up one spot to eighth position after adding 14,166 active clients in July, taking its user base to 10.87 lakh and market share to 2.39%. It replaced SBI Securities, which slipped to ninth after losing 47,551 active clients during the month. Its user base stood at 10.70 lakh, with a 2.35% market share. Motilal Oswal remained in the 10th spot with nearly 9 lakh active clients. Paytm Money and INDmoney the next two positions with 8 lakh, 7.06 lakh clients, respectively. While Paytm Money lost 26,724 users, INDmoney added 6,747 clients during the month. Sahi climbed two spots to 18th position in July and recorded the highest month-on-month growth of 13.6% among the top 20 brokers. The platform added 27,316 active clients during the month, taking its user base to 2.28 lakh and market share to 0.50%. PhonePe’s Share.Market re-entered the top 20 list in July, with the platform’s active client base reaching 2 lakh. Overall, the top five brokers accounted for nearly 67% of the active client base in July, with Groww alone commanding nearly 29% of the market. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
