As the Indian stock market keeps touching new highs amid a record bull run, over 42 lakh new demat accounts were opened in June 2024. According to data from the Central Depository Service and National Securities Depository, the number of demat accounts opened in June totalled over 42.4 lakh, marking the highest account opening rate since February 2024, compared to 36 lakh additions a month ago and 23.6 lahks a year ago. The total demat accounts are now at more than 16 crore.
This is the fourth time when new demat openings crossed 40 lakh in a single month. The feat was earlier achieved in December 2023, January 2024 and February this year.
On Thursday, Sensex and Nifty made a new all-time high. According to market experts, the return of FIIs to the domestic market and the expectation of a rate cut in September are supporting market sentiment.
