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New demat accounts at record high in FY20 as retail investors took to equities
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MUMBAI: Indians increased their exposure to equities in FY20, indicating a shift from traditional investment assets. The number of new dematerialized accounts, or demat accounts, opened during fiscal 2020 was the most in at least a decade at 4.9 million, and a 22.5% increase from a year ago, according to data from the Securities and Exchange Board of India (Sebi).
In the 2019 financial year, 4 million new demat accounts were opened. Total demat accounts at the end of fiscal 2020 stood at 40.8 million, up from 35.9 million as of March 2019.
A demat account is opened by an investor with a depository participant to invest in securities such as stocks and bonds. The securities are held in digital format.
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