Monday, September 14
Mumbai: Retail investors' appetite to borrow to bet on shares remains undeterred despite the recent haze in the market. Money borrowed under brokers' Margin Trading Funding (MTF) facility-a system allowing investors to borrow to buy shares they cannot afford - surged to a record high in August, highlighting the continued risk-on sentiment. The total MTF book stood at above ₹96,000 crore in August against nearly ₹88,000 crore at the end of June. In September 2024 - when the bull run was at its peak - the MTF book was at around ₹85,400 crore."The record high levels in the MTF book reflect strong investor sentiment, indicating confidence after we faced a prolonged correction since September, which has now started reversing," said Suresh Shukla, chief business officer, SBI Securities.In
Mumbai: The total number of demat accounts in India crossed 20 crore for the first time, riding the recent wave of record investor sign-ups, according to the combined data from depositories CDSL and NSDL.Data from CDSL as of July 31 showed that the depository had 16.1 crore investor accounts, adding roughly 20 lakh accounts during the month, while NSDL, which is yet to announce its July figures, had 4.05 crore accounts as of June 30, taking the tally to 20.16 crore accounts - an all-time high.Dhiraj Relli, managing director and chief executive officer at HDFC Securities said the continued growth in demat account additions is driven by the youth. "Both across the industry and on our platform, approximately 75% of new account openings are driven by individuals under the age of 30," he said.T
