India's dematerialised (demat) account registrations hit a six-month high in July, with 2.89 million new accounts opened, according to data from the Association of Mutual Funds in India (AMFI). The surge in demat account additions was driven by a strong initial public offering (IPO) market and a broad-based rally in equities.
The increase reflects growing investor confidence in the Indian stock market, with more individuals and institutions opting to invest in shares through demat accounts. This trend comes amid a period of heightened market activity, fueled by corporate earnings reports and positive economic indicators.
The rise in demat account registrations also highlights the ongoing digital transformation in financial services, as more investors turn to electronic platforms for trading. The data underscores the resilience of the Indian capital market despite global economic uncertainties.
The AMFI reported that the momentum in demat account openings is expected to continue, supported by regulatory reforms and increased financial literacy among retail investors. (rediff.com)
