Groww stays India's top stockbroker in November with 1.2 crore active users, far ahead of Zerodha, Angel One

Groww remained India’s top stockbroker in November, retaining its leadership with around 1.2 crore active clients (active demat accounts) and a 26.84% market share.

The overall active client base in the retail broking industry stood at about 4.53 crore in November, down by 2.16 lakh compared with October.

According to NSE active-client data, Groww was one of the only major platforms to record an increase in active accounts, adding around 42,000 active clients during the month. It had gained about 1.38 lakh in October after losing more than 12.5 lakh between January and September.

Other leading brokers saw declines. Zerodha posted the steepest fall, losing nearly 1 lakh clients and bringing its active client base down to 69.24 lakh, or a 15.38% share. Angel One followed closely with a 15.09% share and 67.95 lakh active clients after shedding more than 55,000 clients. Upstox, ranked fourth, also registered a loss of over 65,000 active clients and now holds a 4.78% market share with 21.52 lakh active clients.

Across all stockbrokers, the active client base contracted by 2.16 lakh in November. This followed a reduction of 57,650 in October, 8.88 lakh in September and 9.72 lakh in August. The decline in July stood at 7.22 lakh. During the June quarter, active clients fell by 13.13 lakh, while the March quarter saw a drop of 9.63 lakh.

Traditional brokerages also reported gains. SBICap Securities added about 29,671 clients, while ICICI Securities gained 18,630 active accounts. Paytm Money recorded 22,047 additions.

HDFC Securities and Indstocks each lost about 21,000 active clients, while Kotak Securities and PhonePe Wealth reported drops of around 20,000 and 19,000. Sharekhan and Mirae Assets each saw a fall of roughly 8,000 clients.

Emerging brokers showed mixed trends. Dhan, a recently turned unicorn, maintained a steady active client base of 9.8 lakh and a 2.18% market share. INDmoney and PhonePe’s Share.Market saw month-on-month declines of 2.84% and 4.28%.