Total numbers of demat accounts on stock market depositories— Central Depository Services Limited (CDSL) and National Securities Depository Limited (NSDL) — surpassed 10 crore for the first time in the month of August 2022. This is a 60% jump in demat accounts from pre-Covid numbers, which stood at around four crore.
In August 2022, CDSL held 7.16 crore demat accounts, while remaining accounts were opened with NSDL, highlighted Zee Business research.
As per the research report, retail investors’ interest in the domestic stock market rose again post correction in the market in June. It is expected that with many scheduled initial public offerings (IPOs) this year, the numbers will further grow.
डीमैट की बहार, खाते 10 करोड़ के पार !
बाजार पर लगातार बढ़ता निवेशकों का भरोसा
देखिए ये इंटरेस्टिंग रिसर्च कुशल गुप्ता के साथ…#Demat #StockMarketindia #Investors #CDSL #AngelOne @AnilSinghvi_ @KushalGupta44 @MuditGoyal_ pic.twitter.com/6wyyjCjQpp
— Zee Business (@ZeeBusiness) September 6, 2022
As per demat trend for FY 23, the number of demat accounts with NSDL and CDSL stood at 9.21 crore in April, 9.48 crore in May, 9.65 crore in June, 9.83 crore in July and 10.05 crore in August.
Of the two stocks, Zee Business Managing Editor was more bullish on CDSL. He said it is one of the stocks that should be an investor’s portfolio.
Speaking about CDSL stock, market expert Mudit Goal said earlier target of Rs 1440 remains intact for the counter. He said the chart of the stock suggests that further upside is due in CDSL. He said once the stock achieves first target price of Rs 1440, we can also see a rally up to 1530.
“In a dip, investors should go long. The stoploss is 1220,” the expert added.
Shares of CDSL were trading with nearly a three per cent gain to Rs1,332.40 per share in BSE intraday trade on Tuesday