Angel One‘s active client base rose to 69.98 lakh at the end of October, from 67.56 lakh in September. In comparison, Zerodha’s active clients declined to 67.59 lakh from 67.92 lakh a month ago.
The shift marks a reversal from September, when Zerodha had a lead of nearly 36,000 clients over Angel One. In September, Angel One had added 36,956 active clients, while Zerodha’s base had contracted by 5,313.
Groww continued to retain its position as India’s largest stockbroker by active clients, adding 3.04 lakh clients in October to take its total to 1.38 crore. The Bengaluru-based platform accounted for 29.4% of NSE’s client base, up from 29.2% in September.
The three largest brokers — Groww, Angel One, and Zerodha — together accounted for nearly 60% of NSE’s active clients at the end of October.
Overall, NSE’s active client base grew 1.3% month-on-month to 4.67 crore at the end of October, adding 6.15 lakh clients during the month. Groww alone accounted for nearly half the industry’s net additions.
Among other large brokers, ICICI Securities retained the fourth position with 21.64 lakh clients, followed by Upstox, which lost 11,348 clients to reach 18.43 lakh active clients.
Besides Upstox, several traditional and established brokerages also saw their client bases contract. Paytm Money witnessed among the sharpest declines, shedding 32,501 active clients to end October with 7.3 lakh.
SBI Securities shed 17,188 clients to reach 10.04 lakh, while Mirae Asset Capital Markets lost 6,506 and ended the month with 1.77 lakh. Axis Securities and Religare Broking also logged declines.
Dhan, operated by Raise Securities, added 25,739 clients to reach 11.47 lakh in October. Sahi, the trading platform founded by former Swiggy CTO Dale Vaz, was among the fastest-growing brokers, expanding 12.2% to 3.15 lakh clients.