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<ul><li><keyword id="19914160" type="General" weightage="20" keywordseo="Groww" source="keywords" meta.keywordsubtype="org" meta.entityname="Groww" meta.hostid="261" meta.entityid="Groww">Groww</keyword> has received SEBI approval to launch the <keyword id="21425700" type="General" weightage="20" keywordseo="Nifty-Non-Cyclical-Consumer-Index-Fund" source="keywords">Nifty Non-Cyclical Consumer Index Fund</keyword>.</li><li>The Nifty Non-Cyclical Consumer <keyword id="21293774" type="General" weightage="20" keywordseo="index-fund" source="keywords">Index Fund</keyword> will be launched through an <keyword id="20498936" type="General" weightage="20" keywordseo="NFO" source="keywords">NFO</keyword>.</li><li>The Nifty Non-Cyclical Consumer Index Fund is expected to be launched in the first week of May.</li></ul>Financial services company Groww has received approval from the <keyword id="19970553" type="General" weightage="20" keywordseo="Securities-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities Exchange Board of India" meta.hostid="261" meta.entityid="Securities Exchange Board of India">Securities Exchange Board of India</keyword> (SEBI), the country’s securities market regulator to launch the Nifty Non-Cyclical Consumer Index Fund through a new fund offering (NFO). This will be the country’s first non-cyclical index fund and is expected to go live in the first week of May. The minimum investment amount for the NFO will be ₹500 and in multiples of ₹1 for purchases and ₹0.1 for switching. The redemption amount has been set at a minimum of ₹500 and in multiples of ₹1 thereafter. “The investment goal of the Nifty Non-Cyclical Consumer Index Fund is to generate long-term capital growth by investing in securities of the Nifty Non-Cyclical Consumer Index (TRI) in the same proportion/weightage to offer returns before expenses that track the total return of the Nifty Non-Cyclical Consumer Index, subject to tracking errors,” Groww said in a statement. Groww acquired the mutual fund business of Indiabulls Housing Finance last year for ₹175.6 crore. <cmsannotation type="cmsannotation" annotationid="What is a non-cyclical consumer index fund?" comment="subhead" text="What is a non-cyclical consumer index fund?">What is a non-cyclical consumer index fund?</cmsannotation> A non-cyclical consumer index fund focuses on companies that provide essential goods and services which tend to remain stable in demand regardless of the economic cycle. This type of fund is designed to protect against market volatility by investing in stocks from industries such as utilities, healthcare, consumer staples, and sometimes financials. In this instance, the fund is benchmarked against the Nifty Non-Cyclical Consumer Index (Total Return Index). This tracks the performance of the top 30 stocks under sectors such as consumer goods and services, telecom and more. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a> <a href="https://www.businessinsider.in/tech/news/gigabyte-aorus-co49dq-49-inch-qd-oled-144hz-curved-gaming-monitor-launched-in-india/articleshow/109563798.cms">GIGABYTE AORUS CO49DQ 49-inch QD-OLED 144Hz curved gaming monitor launched in India</a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund

Brokerage firm <keyword id="19913826" type="General" weightage="20" keywordseo="zerodha" source="keywords">Zerodha</keyword>'s trading app <keyword id="20169505" type="General" weightage="20" keywordseo="kite" source="keywords">Kite</keyword> on Monday suffered another technical glitch, marking the fourth straight month the platform has faced such issues. Several users took to the X platform complaining about the issue and demanding compensation for the "loss". "As expected.. These (intentional) glitches will happen again and again to make sure retail investors lose money in their trades. Discount brokers let you save on brokerage while manipulating their platforms from time to time and giving an excuse of a glitch," a user wrote. "Yes I too am affected, my 5000 profit became Rs 800 and I had to exit at Rs 880. couldn't execute other trades, we deserve compensation," another user said. One more user posted, "Today's morning excitement turned sour thanks to a glitch on #Zerodha. Went long, but couldn't place exit orders due to failed connectivity issues. Had to close hastily to avoid risk. Hits my target of 3705, could've cashed in big today". After multiple complaints from the Zerodha users, the brokerage firm acknowledged the issue. At 10:00 a.m., Zerodha in a post said: "Due to a connectivity issue, some of our users were intermittently facing issues with order placement on Kite. This issue is now resolved. We regret the inconvenience caused." Zerodha last went down on October 31, November 6 and December 4, with multiple users complaining about the technical glitch related to order placement, with orders not being executed and other problems, such as orders not exiting on its Kite app. Last week, several users of the online financial services platform <keyword id="19914160" type="General" weightage="20" keywordseo="groww" source="keywords">Groww</keyword> experienced an hour-long outage, leaving them unable to login and some even asked for compensation. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-february-2024/slidelist/107220575.cms">Samsung to Nothing – The upcoming smartphones hitting Indian market in February</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms">OnePlus 12 vs OnePlus 12R – What distinguishes the two new smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-review/articleshow/106961567.cms">OnePlus Open review – Feature-packed foldable in a premium design</a>

Zerodha's Kite app goes down for 4th time in 4 straight months

<ul><li>Month of March saw 1.9 million new demat accounts compared to 2.1 million in February 2023.</li><li>This figure is significantly lower than the average of 2.9 million new accounts added per month in FY22.</li><li>The uncertainty around the macro environment has impacted investor sentiment and interest in the market.</li></ul>Additions of new demat accounts have slowed in FY23 as compared to FY22 due to volatility in the equity market amid uncertain macroeconomic conditions. The new additions of the <keyword id="105386" type="General" weightage="20" keywordseo="demat-account" source="Orion">demat account</keyword> stood at 1.9 million in March 2023 compared to 2.1 million in February 2023, indicating an 8% decline on a monthly basis. Adding to it, a report by Motilal Oswal Investment Services shows that this figure is significantly lower than the average of 2.9 million new accounts added per month in FY22. The number of total demat accounts increased to 114 million as of March 2023. Moreover, the active user count on the NSE decreased for the ninth straight month to 32.60 million in March as against 33.60 million in February. Additions of demat accounts in the country have been influenced by the market conditions and trend in benchmark indices Sensex and Nifty50, which was the case in 2020 and 2021. The sell-off in equities in the first three months of 2020 after the COVID-19 outbreak had made the stock markets attractive, which lured a bunch of new investors to open new accounts. There was a fear of missing out as Sensex kept trending higher gaining more than 15% in 2022 alone. However, the uncertainty around macro environment has impacted investor interest in the market and therefore the slowdown in demat account additions. <div type="image" title="snapshot-1681885506305" msid="99607110" hostid="261" sizebytes="20570"></div> <keyword id="3489555" type="General" weightage="20" keywordseo="upstox" source="Orion">Upstox</keyword>, ICICI Securities, 5Paisa Capital lose market share Currently, the top five <keyword id="6089105" type="General" weightage="20" keywordseo="discount-brokers" source="Orion">discount brokers</keyword> including <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword>, Upstox, Angel One, <keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword> and 5Paisa Capital account for 60% of the market share, which was earlier being held by traditional brokerage houses. The shrinking investor interest amid market volatility is reflected in the declining client additions of these discounted brokers. Zerodha reported a 0.8% month on month decline in its client count to 6.4 million in March 2023, while Upstox reported a decline of 8% to 2.9 million. Client count of ICICI Securities slipped 5.7% on a monthly basis to 2.3 million in March 2023 while that of IIFL Securities dropped 13%. With this, market share of Upstox, 5Paisa Capital, ICICI Securities, IIFL Securities, Kotak Securities and Motilal Oswal slipped in March 2023 as compared to previous year. Overall market share <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year on Year growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">215 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-565 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">296 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">577 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5Paisa Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-287 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top 5 Discount brokers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">236 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-127 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-66 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-167 bps </td></tr></tbody></table>Source: Motilal Oswal Investment Services SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/yes-bank-has-more-shareholders-than-debit-cards-as-retail-investors-continue-to-buy-in/articleshow/99601288.cms">Yes Bank has more shareholders than debit cards as retail investors continue to buy in</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infosys-has-beaten-tcs-in-constant-currency-revenue-growth-in-four-of-the-last-five-years/articleshow/99579312.cms">Infosys has beaten TCS in constant currency revenue growth in four of the last five years</a>

Demat account additions slow as markets languish; Upstox, ICICI Securities, 5Paisa Capital lose market share

<ul><li>The number of new accounts added declined 18% on a monthly basis to 16 lakh in April as against 19 lakh in March.</li><li>The total number of demat accounts stood at 11.6 crore in April, 2023.</li><li>Total number of active user clients at NSE stood at 3.12 crore in April 2023.</li></ul>Additions of new demat accounts continued to slow in April to 16 lakh from 19 lakh in March, amid uncertain market conditions. As many as 21 lakh accounts were added in February. The total number of demat accounts stood at 11.6 crore in April, 2023. The incremental number of new accounts added declined 18% on a monthly basis to 16 lakh in April as against 19 lakh in March, according to Motilal Oswal Financial Services. The report shows that the figure is significantly lower than the average new accounts added per month in FY23, at 21 lakh. Also, the total number of active user clients at NSE declined sequentially for the tenth consecutive month by 16.3% on a yearly basis, and by 4.6% on monthly basis to 3.12 crore in April 2023. <keyword id="17422532" type="General" weightage="20" keywordseo="demat-account-additions" source="Orion">Demat account additions</keyword> had picked up during the pandemic, but as markets turned erratic and FII enthusiasm waned, it seems to be having an impact on the sentiment of retail investors too. Performance of discount brokers in April <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month on month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Client count </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">63 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-23.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 lakh </td></tr></tbody></table>Source: Motilal Oswal Financial Services Currently, the top five discount brokers including Zerodha, Upstox, Angel One, Groww and 5Paisa Capital account for over 60% of the market share of active clients, which was earlier being held by traditional brokerage houses. The waning investor interest amid market volatility is also reflected in the declining client additions of these discounted brokers. Overall market share of active clients <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year on Year growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-840 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">350 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">630 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-110 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-190 bps </td></tr></tbody></table>Source: Motilal Oswal Investment Services SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-in-top-gear-jlr-to-drive-growth-in-fy24/articleshow/100252339.cms">Tata Motors in top gear, JLR to drive growth in FY24</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fii-inflows-may-remain-consistent-in-may-with-turn-in-rate-cycle/articleshow/100234813.cms">FII inflows may remain consistent in May with turn in rate cycle</a>

New demat account additions decline 18% in April; Zerodha, Upstox, Groww impacted

<ul><li>Indians hold the <a href="https://www.silverinstitute.org/wp-content/uploads/2021/04/World-Silver-Survey-2021.pdf">third</a> largest physical silver investment in the world. </li><li>The industry earned ₹1,400 crore in assets from <keyword id="1438523" type="General" weightage="80" keywordseo="silver-etfs" source="Orion">silver ETFs</keyword> till July 2022. </li><li>Silver is used as an inflation hedge because of its industrial usage in solar panels, electric vehicles and electronics. </li><li><keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> is among the top 20 producers of silver globally. </li></ul>Due to the rising need for green energy, the use of cellphones alongside increasing adoption of electric vehicles, one commodity is going to be in great demand, and that’s silver. Unlike gold, the price of silver is driven by the demand for the precious metal. Gold is typically considered to be a hedge against inflation and a safe haven. So with demand for silver rising, several asset management companies are launching Silver exchange traded funds. For instance, an average cell phone contains 0.3 grams of silver and an electric vehicle needs 25-30 grams of silver during production. An average solar panel needs 20 grams of silver. The metal is also used in electronics, brazing, jewellery and tableware to list a few. This increased utility combined with rarity, durability has made it an investor’s choice. After the US and Germany, India ranks <a href="https://www.silverinstitute.org/wp-content/uploads/2021/04/World-Silver-Survey-2021.pdf">third</a> in terms of largest physical silver investment holdings. It is also amongst the top 20 silver producing countries. This has prompted leading asset managers of the country to launch an investment tool — silver <keyword id="46594" type="General" weightage="100" keywordseo="etfs" source="Orion">ETFs</keyword>. Why consider Silver ETF? The value of a metal, whether it be gold, silver, diamond or platinum is determined by its purity, which is difficult to achieve. Hence investors are cashing in on the opportunity without holdings by investing in ETFs. Last year, five big mutual funds in India, ICICI <keyword id="4460105" type="General" weightage="50" keywordseo="prudential-amc" source="Orion">Prudential AMC</keyword>, Nippon India AMC, Aditya Birla Sun Life AMC, DSP Mutual Fund, and HDFC AMC, announced their plans to launch silver ETFs. In January 2021, ICICI Prudential AMC launched India's first silver ETF scheme, which is the first silver-based fund in India. The funds have already collected ₹1,400 crore in assets from silver ETFs till July-end, according to data provided by <a href="https://economictimes.indiatimes.com/mf/mf-news/mutual-funds-flock-to-silver-etf-space-with-new-schemes-collect-rs-1400-cr-assets/articleshow/93845328.cms?from=mdr">Morningstar India</a> this year. Moreso, silver is becoming rarer. Silver mining has increased 5% last year from 2020, said an Edelweiss report. However, silver supplies dropped into a deficit since last year, and analysts predict another sizable deficit of 72 million ounces in 2022. During bull markets, silver has soared much further and faster than gold due to high industrial <a href="https://www.edelweissmf.com/nfo/edelweiss-gold-and-silver-etf-fund-of-fund.html">demand</a>. Therefore it is often a tactical play, claim investment experts. How do you sign up for a silver ETF? The sign up process for a silver ETF in India can be done through mutual fund managers, personal finance advisors and mutual fund platforms. The customer has to submit their KYC on the platform, along with Aadhar and PAN details. Both Aadhar and PAN should be linked. Apps like <keyword id="6189412" type="General" weightage="50" keywordseo="groww" source="Orion">Groww</keyword>, <keyword id="759851" type="General" weightage="50" keywordseo="zerodha" source="Orion">Zerodha</keyword>, Upstox and PayTM money can be used by tech savvy investors. For a more traditional approach, a mutual fund advisor or chartered accountant can be approached. Reading up on the offerings of each mutual house ETF is essential as they differ in strategy and price. The fund managers of each mutual fund house are subject to change and it is important to keep a tab on their latest moves. How costly is the silver ETF in India? The range of the silver ETF varies according to the mutual fund house it belongs to. The silver-based ETFs got a green flag from the <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword> (Sebi). A guideline for fund managers and investors was released by the regulatory agency on November 25 <a href="https://www.sebi.gov.in/legal/circulars/nov-2021/norms-for-silver-exchange-traded-funds-silver-etfs-and-gold-exchange-traded-funds-gold-etfs-_54166.html">last year</a>. Here are the listed prices for top five silver ETFs in India. TABLE: <keyword id="132616" type="General" weightage="50" keywordseo="nav" source="Orion">NAV</keyword> Value August 2022 India’s Top Silver ETFs <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mutual Fund Silver ETF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential AMC Silver ETF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹55.84 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nippon India AMC Silver ETF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹54.6 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Sun Life AMC Silver ETF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹55.9 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DSP Mutual Fund Silver ETF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹54.6 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC AMC Silver ETF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹53.9 </td></tr></tbody></table> Here is what you need to know about before investing According to SEBI, “a Silver ETF scheme must invest at least 95 per cent of the net assets in silver and silver-related instruments. Physical silver must be of standard 30 kg-bars with 99.9 percent purity (999 parts per thousand) conforming to London Bullion Market Association (LBMA).” The regulator has also asked the fund houses for physical verification of silver underlying the Silver ETF units. Needless to say, all metals and their value is affected by macroeconomic conditions of the world and the stock market. Edelweiss Mutual Fund on August 24 this year launched India’s first silver-gold ETF, combining the inflationary power of gold and usability of silver. The scheme will invest in both metals and adjust the percentage as the performance of markets determine. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-is-a-prime-spot-for-all-bulge-bracket-pes-says-bank-of-americas-debasish-purohit/articleshow/94227647.cms">India is a prime spot for all bulge bracket PEs, says Bank of America's Debasish Purohit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/explained-how-video-commerce-is-helping-online-shoppers-try-before-they-buy/articleshow/94227299.cms">Explained: How video commerce is helping online shoppers try before they buy</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/epack-durable-raises-40-mn-in-second-round-of-funding-led-by-affirma-capital/articleshow/94227885.cms">EPACK Durable raises $40 mn in second round of funding led by Affirma Capital</a>

Explainer: Should you invest in silver ETFs?

<ul><li>Like a savings account holds money, a <keyword id="105386" type="General" weightage="20" keywordseo="demat-account" source="Orion">demat account</keyword> holds investors’ investments -- <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword>, mutual fund units, bonds etc in one place.</li><li>To invest in the stock market, it is mandatory to have a demat account.</li><li>India’s penetration into financial markets is low, given only one in every 23 people has a demat account in the country.</li></ul>India’s benchmark index Sensex, which has delivered 27% returns in the last one year has got a lot of investor attention, thereby increasing the number of demat account holders. This is because it is mandatory to open a demat account in order to invest in any financial products. Like a savings account holds money, a demat account holds investors’ investments -- stocks, mutual fund units, bonds etc., in one place. Demat account holders in the country increased by almost 50% to 6 crore as of June 2021, from 4.02 crore in February 2020. If you're looking to invest in the stock market, debt instruments, mutual funds or even <keyword id="35156" type="General" weightage="20" keywordseo="ipos" source="Orion">IPOs</keyword>, here is how you can do it by opening a demat account. Here are some example of brokers you can open your account with: <ul><li><keyword id="46252" type="General" weightage="20" keywordseo="motilal-oswal" source="Orion">Motilal Oswal</keyword></li><li><keyword id="12292089" type="General" weightage="20" keywordseo="angel-one" source="Orion">Angel One</keyword></li><li>HDFC Securities</li><li>Sharekhan</li><li><keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword></li><li>Upstox</li><li><keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword></li><li>5 Paisa</li><li>Paytm Money</li></ul>List of important documents required for opening of a demat account While a demat account can be easily opened online now, one requires several documents to submit online for the know your customer (KYC). <ul><li>Identity proof from any one of these — Aadhaar card, PAN card, driving licence, voter ID card etc.</li><li>Address proof from any one of these — passport, electricity bill, ration card, gas bill, landline telephone bill etc.</li><li>Cancelled cheque of bank account you want to transact with.</li><li>Proof of income from any of these — latest salary slips, income tax returns copy, bank statement for last 6 months, copy of Form 16.</li></ul>Further, charges to open a demat account differ from banks to stock brokerages to discount brokers to online investment platforms. A typical online investment platform like Zerodha charges around ₹200-300 annually. Banks charge up to ₹900 to open such an account. Steps to open a demat account Step 1: Choose the broker you want to open an account with. Step 2: Visit the company’s website and start the demat account opening process. Step 3: Fill out the information required for know your consumer (KYC). Step 4: Submit the scanned copies including identity proof, bank account statement, income proof, photo to complete the KYC. Step 5: After submitting all the documents and verifying it, pay the required amount for trading. Step 6: At the end of the process you will receive a unique 16-digit beneficial owner identification number (demat account no.), which will be used to access the demat account online. Step 7: Login with the demat account number and walk in to your investments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/saas-firm-rategains-ipo-opens-tomorrow-should-you-invest/articleshow/88125982.cms">SaaS firm RateGain’s IPO opens tomorrow — should you invest?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nifty-50-stocks-like-indusind-bank-tata-consumer-bajaj-finserv-tcs-hcl-drop-more-than-3-on-fear-of-rising-omicron-cases/articleshow/88122922.cms">Nifty 50 goes below 17,000-mark on rising Omicron cases, fear of lockdown</a>

Want to invest in stocks and IPOs? Here is how you can open a demat account

<ul><li>The Competition Commission of India (CCI) has today approved <keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword>’s acquisition of <keyword id="2693039" type="General" weightage="20" keywordseo="indiabulls-amc" source="Orion">Indiabulls AMC</keyword>.</li><li>Reportedly, Groww has acquired the <keyword id="6354820" type="General" weightage="20" keywordseo="mutual-fund" source="Orion">mutual fund</keyword> business for ₹175 crore.</li><li>The 5-year-old startup Groww is a stock broker and a registered mutual fund distributor with AMFI.</li></ul>The Competition Commission of India (CCI) has approved Nextbillion Technology’s -- the parent of Groww -- acquisition of Indiabulls AMC. The mutual fund (MF) segment seems to be a lucrative opportunity for new age fintech startups in the country. Recently, investment platform <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword> had also received an approval from India’s market regulator to enter the mutual fund business. The announcement comes months after markets regulator Securities and Exchange Board of India (SEBI) had allowed digital finance platforms to enter the mutual funds business and Groww has become the first fintech to enter the asset management space. Bengaluru-based Groww is a stockbroking startup founded by former Flipkart employees – Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. <a href="https://economictimes.indiatimes.com/markets/stocks/news/groww-to-acquire-indiabulls-mf-for-rs-175-crore/articleshow/82545180.cms">Reportedly</a>, the digital platform bought Indiabulls AMC for ₹175 crore. Indiabulls AMC is one of the smallest mutual fund companies with an average assets under management (AUM) of ₹631 crore in a ₹36 trillion MF industry. It has 11 schemes across equity, debt and hybrid categories. Schemes of the mutual fund business are averagely rated due to its performance. So, it needs to be seen how Groww can transform the MF business. Groww seems to be well capitalised, given it has raised $83 million at a billion dollar valuation from US-based investor Tiger Global and others in <a href="https://www.businessinsider.in/business/startups/news/online-investment-platform-groww-is-indias-latest-unicorn-as-it-raises-83-million/articleshow/81952184.cms">April</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/income-tax/news/income-tax-returns-filing-deadline-extended-again/articleshow/86070034.cms">Income tax filing deadline for FY21 extended to December 31</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/jiophone-next-smartphone-launch-delayed-until-diwali-due-to-chip-shortage/articleshow/86087153.cms">JioPhone Next launch delayed until Diwali due to chip shortage</a>

Groww and Zerodha to battle it out in mutual fund business after wooing India’s youngsters into stock market investing

<ul><li>Indians are heavily <keyword id="35175" type="ORGANIZATION" weightage="20" keywordseo="investing">investing</keyword> in <keyword id="373404" type="ORGANIZATION" weightage="20" keywordseo="Financial-Assets">financial assets</keyword> and bulk of that money is routed via startups like <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword>, Upstox and others.</li><li>In the last two decades, financial <keyword id="41933" type="ORGANIZATION" weightage="20" keywordseo="assets">assets</keyword> per adult in India gained 2%, while non-financial assets fell 8.4%, as per a Global Wealth Report 2021 by Credit Suisse.</li><li>Tech savvy broking firms like Zerodha, Upstox hold double digit market share in terms of number of unique investors as compared to traditional stock brokers like Motilal Oswal, Angel Broking.</li></ul>Financial assets in India have been on an uptrend in at least the last two decades as financial assets per adult in India have gained 2% between 2000 to 2020, while non-financial assets fell 8.4%, shows Global Wealth Report by Credit Suisse. The data indicates rising interest of individuals in financial assets like stocks, bonds, mutual funds. Adding to it, data from the Reserve Bank of India (RBI) shows that in the year ended March 2020, the net financial assets in India — defined as gross financial assets less financial liabilities — jumped from ₹13.73 lakh crore in FY19 to ₹15.62 lakh crore in FY20 due to decline in borrowing from banks. Since interest rates have remained low in the country for quite some time, investors have shifted more savings towards soaring markets. Many new retail investors entered the industry in the last one year as interest rates kept depleting and markets kept surging. In fact, 14.2 million demat accounts have been opened in FY21, according to SEBI data. “The net financial assets of Indian households have grown due to fall in bank deposits and increase in investments. Lower interest rate environment, combined with friction-less access to financial markets due to fintech services and online brokers, is one of the key reasons for this spike in financial assets in India. As of January, India's total demat account stood at 51.5 million, a 26% increase compared to the end of FY20,” said Nikhil Kamath, cofounder of Zerodha. Most new investors that have come in the last one year are lured because of the record high Sensex/Nifty 50 levels and ease in opening a demat account, doing e-KYC through popular online trading platforms like Zerodha. Zerodha holds 18.85% market share with 33.9 lakh unique active investors followed by Upstox with 10.9% market share with19.6 lakh unique active investors, reveals data by stock market analytics platform Trade Brains. These online trading platforms hold greater market share over traditional broking firms like Angel Broking, ICICI Securities and Motilal Oswal Services. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 stock brokers </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Active clients </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Market share </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">33,91,059 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">18.85% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19,60, 861 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.90% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14,54, 167 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.08% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14,35,356 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.98% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9,44,091 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.25% </td></tr></tbody></table>(As per data from Trade Brains as of March 2021) Indian household’s cash and savings have been deployed into the market because of ease in online investment procedures like e-KYC, payment gateways, access to relevant information on fingertips and FOMO (fear of missing out) effects, highlights Neelabh Sanyal, chief operating officer and cofounder of Kuvera. “Minimum investment options by banks and mutual funds, subdued returns on non-financial assets such as real estate and availability of surplus cash due to pandemic have attracted investors to financial markets. Besides, the investor is also evolving and naturally gravitating to financial assets due to higher transparency, standardisation, liquidity and strong regulatory environment as compared to non-financial assets,” said Sanyal. Ravi Kumar, founder and chief executive of Upstox feels that financial assets will continue to grow in the coming time as investors have learned the importance of investing. "Indians are increasingly preferring financial assets over physical assets. While non-financial assets give a sense of ownership, financial instruments such as mutual funds and equities are easy to liquidate. Also, due to the pandemic people have learnt the importance of investing, portfolio diversification, and hence financial assets will continue to grow in the future," said Kumar. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/twitter-is-giving-away-140-free-nfts-to-followers-and-theyre-not-available-any-other-way/articleshow/84010546.cms">Twitter is giving away 140 free NFTs to followers — and they’re not available any other way</a> <a href="https://www.businessinsider.in/business/startups/news/new-technology-is-putting-conventional-jobs-out-of-business-msme-exchange-panelists-highlight-on-how-it-helps-in-the-long-run/articleshow/84013275.cms">New technology is putting conventional jobs out of business -- MSME Exchange panelists highlight on how it helps in the long run</a> <a href="https://www.businessinsider.in/business/startups/news/swiggy-coo-vivek-sunder-will-be-exiting-the-company-by-october/articleshow/84010468.cms">Swiggy COO Vivek Sunder will be exiting the company by October, CEO Sriharsha Majety may take over</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-stocks-tank-after-march-quarter-results/articleshow/84010118.cms">Vodafone Idea shares in deep red as an uncertain future looms</a>

Zerodha, Upstox and other broking apps are minting money as FOMO and easier access drive Indians to stock markets

<ul><li><keyword id="6189412" type="COMPANY" weightage="20" keywordseo="Groww">Groww</keyword> aims to capture the surge in investing among millennials.</li><li>In September, Groww had raised a Series C funding round of $30 mn (220 Cr), led by YC Continuity.</li></ul>Groww, a mobile-first investment platform, has launched its new ad campaign targeting first-time investors and millennials. Through its campaign, Groww aims to capture the surge in investing among millennials, which has been enabled by easy to use <keyword id="10055209" type="UNKNOWN" weightage="20" keywordseo="investing-apps">investing apps</keyword> like Groww. The ad illustrates a dining table conversation between a son and his father, where the father lectures the son on the complexities involved in choosing the right stock. In contrast, the son goes ahead and buys shares in his father’s company with just a few clicks. The film has been launched on television and all social platforms of the brand and can be viewed here: <div type="Youtube" id="empCzxhnLVs" title="Stock Investing - Made Easy &amp; Simple | Download Groww | #InvestWithGroww" thumbUrl="https://i.ytimg.com/vi/empCzxhnLVs/mqdefault.jpg"></div> The film has been conceptualized by <keyword id="7644795" type="LOCATION" weightage="20" keywordseo="The-Script-Room">The Script Room</keyword>. The ad film, part of the campaign, talks about one of the most popular wealth creation avenues – stocks. Laced with humor, the ad conveys a serious point of investing early by bringing to life the core creative idea – To make wealth, one needs to invest smart and invest early. Commenting on the new ad campaign, Harsh Jain, Groww said, “With an easy-to-use interface and robust technology offering, Groww aims to make investing easy and smart for the younger generation and democratize wealth creation. The film’s narrative highlights these aspects in a simple yet effective manner, and we hope this will resonate well with our target audience.” According to Rajesh Ramswamy (Ramsam), Co-Founder, The Script Room, “Through this campaign, we wanted to offer a refreshing POV of youngsters in a category in which they have never been taken seriously. With any financial communication, much is lost in jargon. We wanted to avoid this and stick to a casual tone to make it more understandable and relatable.” The COVID pandemic has proved to be an inflection point for stock investing in India. The number of new Demat accounts opened this year have been the highest in our history. According to BSE, the number of mobile trades has tripled since March, while according to NSE, Mobile trades now account for a quarter of the cash market deals. This growth is predominantly fuelled by apps like Groww that have made it easier for millennials and GenZ to invest in the stock market by removing complicated paperwork and long waiting time, as used to be the case earlier. The Groww app also provides all the necessary resources which an investor may require to conduct in-depth stock research: such as information about the company’s financials, peer comparison, shareholding pattern, live market activity, etc. In September, Groww had raised a Series C funding round of $30 mn (220 Cr), led by YC Continuity. The round also saw participation from its existing investors - Sequoia India, Ribbit Capital, and Propel Ventures.

Groww's latest ad targets millennials for their newfound interest in stocking

<ul><li>The UPI method of applying for REIT IPOs is not yet allowed by India’s market regulators.</li><li>There are three types of IPOs that you could apply for – equity, bonds, and REITs.</li><li>Mohit Mehra, business analyst at Zerodha breaks it down for us. Mehra added that REIT units are different from equity shares in terms of the underlying structure.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>As the ₹3,800 crore <keyword id="10024217" type="UNKNOWN" weightage="20" keywordseo="Brookfield-REIT-IPO">Brookfield REIT IPO</keyword> opened, users turned to stockbroking apps like Zerodha, Groww, Angel Broking and others, only to not find the IPO listed in the apps. While users worried whether this was another downtime faced by the apps, the answer is actually quite simple. <div type="twitter" handle="SalmanRooney" handlename="Salman" image="http://pbs.twimg.com/profile_images/1350093731110633473/tp0IRD_Q_normal.jpg" favoritecount="0" retweetcount="0" status="Brookfield IPO not available on Zerodha ??@zerodhaonline" createdat="1612411997000" id="1357180399798001665"></div><div type="twitter" handle="AbhishekZao" handlename="Abhishek Zao" image="http://pbs.twimg.com/profile_images/1278619437306753024/j5q-lM4__normal.jpg" favoritecount="1" retweetcount="0" status="@ipo_mantra Sir Brookfield ipo not showing in Zerodha" createdat="1612413652000" id="1357187343636000768"></div> The UPI method of applying for REIT IPOs is not yet allowed by India’s market regulators. There are three types of IPOs that you could apply for – equity, bonds, and REITs. For REIT issues, the UPI method is not yet live, for bonds it was taken live on January 1st, where brokers still have to build systems to take it live on their apps. <div type="image" title="image (41)" msid="80686519" hostid="261"></div> Mohit Mehra, business analyst at Zerodha breaks it down for us. “In the first REIT issue - Embassy, the minimum application size was for ₹2.40 lakh compared to the minimum application size of ₹55,000 for Brookfield. Although the limit for UPI IPO applications is ₹2 lakh, the system is not yet live by the exchanges. So, brokerages can’t offer it via UPI. SEBI may soon issue directions to take REIT IPOs live on UPI as it did for bonds,” he said. Mehra added that REIT units are different from equity shares in terms of the underlying structure. “Investors should check the suitability of financial products in their overall portfolio before investing in them,” he said. Here’s how you can apply for Brookfield REIT IPO You can apply for REIT IPOs using your net banking. Per directives, every IPO bid should be backed by ASBA or Application Supported by Blocked Amount which allows the bank to block funds in the applicant's account for the application's value till the time the shares are allocated. Most of the Syndicate Banks provide access to apply in Brookfield REIT IPO via the ASBA process. You must have your net banking access, DP ID information to apply for Brookfield REIT IPO via ASBA. Banks like Axis, SBI allow you to apply maximum 5 applications from one bank account. However, ICICI, HDFC bank has a limit of one IPO ASBA application per account. <div type="image" title="image (42)" msid="80686533" hostid="261"></div> Here's a detailed guide on <keyword id="10704869" type="UNKNOWN" weightage="20" keywordseo="how-to-apply-for-Brookfield-REIT-IPO">how to apply for Brookfield REIT IPO</keyword> through ASBA: <ul><li>Sign in to the net banking of your registered bank portal.</li><li>Under the menu button, click on "Request".</li><li>You will now be directed to a new page to apply for the IPO.</li><li>Select the IPO you wish to apply.</li><li>Enter the required details such as bid quantity and applicant information.</li><li>Click submit after confirming the details.</li></ul> SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-subsidiary-to-sell-all-of-its-upstream-assets-in-marcellus-shale-play-for-250-million/articleshow/80682497.cms" data-type="tilCustomLink">Reliance subsidiary to sell all of its upstream assets in Marcellus shale play for $250 million</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-says-sebi-ban-wont-stop-future-group-deal-with-reliance/articleshow/80680781.cms" data-type="tilCustomLink">Kishore Biyani says SEBI ban won't stop Future Group's deal with Reliance</a>

Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps

Starting November 11, 2024, your shares will be directly credited to your demat account after you've executed a trade. This will significantly reduce the role of your stockbrokers like Zerodha, Groww, Angel One, and more. Earlier, this rule was set to take effect yesterday i.e. October 14, 2024. The timelines were pushed to November 11 post multiple representations from Broker's Forum. Even the payout time has been shifted from 1:30 pm to 3:30 pm, in order to ensure credit to client's accounts the very same day. So, what does this change entail for you? We take a look. <h2>What was the situation before? </h2>Say you placed an order to buy 1,000 shares of company A through your stockbroker online today i.e. on Monday. The This will be your trade day, or T-day. The total transaction is worth Rs 1,00,000 (1,000 shares of Rs 100 each), plus Rs 120 worth of STT, brokerage charges and more, which brings the total to Rs 1,00,120. First, your broker will ascertain whether or not you have this amount, or sufficient funds in your account for the trade to go through. Once that is verified, your broker will block this amount in your account and send you a contract note. This note details the day's transactions, along with the charges levied by the broker. Since Indian markets operate on a T-day+1 settlement basis, here's what will happen with your order on T+1 day i.e. Tuesday: 1. The shares will be credited to your broker's pool account (Zerodha in this case) by the clearing corporation (CC). Also, the shares will start reflecting in your demat account the very same day. 2. The funds, which had been blocked in your account, will be debited from your broker's pool account, and will be credited to the selling broker's pool account. Before today, the CC first transferred the <keyword id="20148181" type="General" weightage="20" keywordseo="securities" source="keywords">securities</keyword> into your broker's pool account, who then credited them to your account. The shares remained in the custody and control of your broker, before they finally transferred the same to your account. <h2>What's changing?</h2>From November 11, 2024, the CC will directly credit the securities to your demat account, eliminating the role of the broker as a necessary intermediary. In short, the brokers will have no touchpoint with your shares. This change will be implemented in 2 phases: Phase 1, which was set to start on October 14, will enable <keyword id="23504881" type="General" weightage="20" keywordseo="direct-credit" source="keywords">direct credit</keyword> of securities for equity cash segments, where big financial organizations or brokers undertake trades on behalf of their individual or institutional investors. This will also be applicable for physical settlements of futures and options. This means that on the date of their expiry, the actual delivery of stocks/commodities must be made to your demat account. This will continue till January 13, 2025. However, in certain cases, like short delivery (when sellers do not deliver shares), rejected payouts, inactive buyer accounts and more, the securities will still be first credited to the broker's pool accounts. Phase 2, which will begin from January 14, 2025, will extend this system to all security transactions, including even for SLB (securities lending and borrowing), where investors can lend or borrow securities from other participants in the market. The role of brokers will be largely be minimised. This will also change how pledges, or loan against securities are created. Currently, brokers are tasked with the job of creating pledges for unpaid securities, and marking them in the client's demat account. But post this change, brokers will request CCs to mark this in the client's demat account. <h2>Is there anything I need to do? </h2>No, this is not set to impact your i.e. the investor's experience in any way. If anything, it will make the entire share credit process smoother, more direct and secure.

Attention! Here's what is changing with your shares, starting November 11,2024

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> has received an invitation from his Italian counterpart Giorgia Meloni to attend the <keyword id="21430934" type="General" weightage="20" keywordseo="G7-Summit" source="keywords">G7 Summit</keyword> Outreach Session in Italy in June. Modi spoke to Italian Prime Minister Meloni on Thursday and thanked her for the invite to the G7 Summit Outreach Sessions to be held in Italy's Puglia, the <keyword id="19898714" type="General" weightage="20" keywordseo="Ministry-of-External-Affairs" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of External Affairs" meta.hostid="261" meta.entityid="Ministry of External Affairs">Ministry of External Affairs</keyword> said in a statement. In a post on 'X', Modi said he greeted Meloni and the people of Italy on the 79th anniversary of Liberation Day. "Thanked her for the invite to the G7 Summit in June. Discussed taking forward #G20India outcomes at the G7. Reaffirmed commitment to deepening our Strategic Partnership," he added. The Summit will be held on June 13-15. The result of the ongoing general election will be announced on June 4. Before the announcement of the Lok Sabha elections, Modi said in February that he had already received invitations from "foreign countries for July, August, and September" as they are "confident of the BJP government returning to power". Officials said Meloni's invitation to Prime Minister Modi for the G7 Summit in Italy's Puglia in June after the elections reiterates this confidence. During their conversation on Thursday, the two leaders also discussed taking forward the important outcomes from India's G20 Presidency, especially those that support the Global South, at the G7 Summit under Italy's Presidency, the statement said. They reaffirmed their commitment to continue to strengthen the bilateral strategic partnership and also exchanged views on regional and global developments of mutual interest, it added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank">Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund</a>

Italian PM Meloni invites PM Modi to G7 Summit Outreach Session in June

<ul><li><keyword id="20270096" type="General" weightage="20" keywordseo="equity-benchmark-indices" source="keywords">Equity benchmark indices</keyword> climbed in early trade on Friday, extending their rally for the sixth day running</li><li>The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed 176.47 points to 74,515.91 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> went up by 50.05 points to 22,620.40.</li><li><keyword id="19950204" type="General" weightage="20" keywordseo="Tata-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Steel" meta.hostid="261" meta.entityid="Tata Steel">Tata Steel</keyword>, Wipro, JSW Steel, HCL Technologies, HDFC Bank and ITC were among the other major gainers.</li></ul>Equity benchmark indices climbed in early trade on Friday, extending their rally for the sixth day running, on heavy buying in <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> and firm trends in Asian markets. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> climbed 176.47 points to 74,515.91 in early trade. The NSE <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> went up by 50.05 points to 22,620.40. From the Sensex basket, Tech Mahindra jumped over 12.50 per cent after the IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins. Tech Mahindra CEO Mohit Joshi said the company hopes to come back to growth in H2 FY25. Tata Steel, Wipro, JSW Steel, HCL Technologies, HDFC Bank and ITC were among the other major gainers. Bajaj Finance, Bajaj Finserv, Mahindra &amp; Mahindra and Nestle were among the laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the positive territory. Wall Street ended lower on Thursday. Global oil benchmark Brent crude climbed 0.33 per cent to USD 89.30 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday, according to exchange data. The BSE benchmark climbed 486.50 points or 0.66 per cent to settle at 74,339.44 on Thursday. The NSE Nifty advanced 167.95 points or 0.75 per cent to 22,570.35. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms" target="_blank">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/groww-receives-sebi-approval-to-launch-nifty-non-cyclical-consumer-index-fund/articleshow/109588441.cms" target="_blank">Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund</a>

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Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund

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