Ashish Chauhan, CEO of Bombay Stock Exchange ie BSE, tweeted today that the number of registered investors account has crossed 7 crores.
On an average 13 lakh new demat accounts are opened every month.
The stock market has performed unexpectedly during the Corona period. The market crashed in March-April 2020 and the momentum it has gained after that is unmatched. The stock market has also attracted large scale retail investors during the Corona period. Ashish Chauhan, CEO of Bombay Stock Exchange ie BSE, tweeted today that the number of registered investors account has crossed 7 crores.
With the domestic stock market reaching a new peak, brokerage companies have opened an average of 13 lakh new demat accounts every month from April last year to May 31, 2021, during the financial year 2020-21. After the World Health Organization declared COVID-19 a global pandemic in March last year, the stock market had lost 35 percent within a month. After which, in June, the market had regained its momentum.
— Ashish Chauhan (@ashishchauhan) June 7, 2021
Up to 15 lakh new accounts opened every month
BSE Chief Executive Officer Ashish Kumar Chauhan said that brokerage companies and stock exchanges have opened 12 to 15 lakh new demat accounts every month during the last 14 months. Of these, forty per cent demat accounts were opened by brokerage companies affiliated to BSE. “BSE has added about 40 per cent more investor accounts overall for all members in the last 15 months. The increase in investor accounts shows that automation and mobile trading has enabled investments in stocks and mutual funds to reach every part of the country.
stock market boom
The world economy has been badly affected due to Corona. In such a situation, investors started running towards safe investments and in the year 2020, in August, gold had reached the level of 56 thousand. At present it is built at 48 Hazari level. Gold gave a great return of 30 per cent in 2020. Retail investors took advantage of the market crash. The stock market boomed due to increased liquidity by central banks around the world. In this boom, many stocks have given returns of hundreds of percent.
400% jump in cryptocurrency trading
Investors also turned to cryptocurrencies during the Corona period. According to the report of Money Control, there has been a jump of 400 percent in cryptocurrency trading in the Corona lockdown. At present, around 1500 virtual currencies are in circulation. This includes digital currencies like Ethereum, Ripple, Dogecoin. According to a report published in the Economic Times, on a daily basis, 50 lakh traders in the country are trading 1500 bitcoin on a daily basis with the help of 24 exchanges.
One fourth demat account only in Maharashtra
According to the BSE, there were a total of 6.9 crore demat accounts in the country till May 31. Out of which 25 percent accounts are from Maharashtra while 85.9 accounts are from Gujarat. Gujarat is followed by Uttar Pradesh at 52.3 lakh, Tamil Nadu at 42.3 lakh and Karnataka at 42.2 lakh. Apart from this, 39.5 lakhs from Bengal, 37.3 lakhs from Delhi, 36 lakhs from Andhra Pradesh, 34.6 lakhs from Rajasthan, 25.7 lakhs from Madhya Pradesh, 21.2 lakhs from Haryana, 20.7 lakhs from Telangana, 19.4 lakhs from Kerala, 15.2 lakhs from Punjab and Bihar. Out of 16.5 lakh demat accounts. As per SEBI guidelines, demat accounts that are not used for more than one year are considered inactive.
Also read, Gold rate today: Gold became cheaper on the first day of the week, know the rate of 10 grams of gold
Also read, electronic items can be expensive, the reason for the rise in copper can be