Buoyant Capital Markets Aid Indian Brokerage Industry Players To Flourish: ICICI Direct
Stockbrokers on the trading floor of Motilal Oswal Financial Services’ office in Mumbai, India. (Photographer: Vivek Prakash/Bloomberg)

Buoyant Capital Markets Aid Indian Brokerage Industry Players To Flourish: ICICI Direct


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Indian brokerage industry has been undergoing structural shift from percentage led business model to flat brokerage and subscription based model.

Market share of top two discount brokers in terms of number of clients, namely Zerodha and Upstox, has increased from 17% to 30% in past one year, which reflects clients’ attraction towards flat brokerage plans.

Overall market average daily turnover has increased over approximately two times from Rs 14.4 lakh crore in Q3 FY20 to Rs 31.1 lakh crore in Q3 FY21, and has shown increasing trends sequentially.

Client addition also has been on similar lines with active clients increasing 67% YoY to ~1.63 crore; with substantial participation from new to market customers from tier-II and below cities.

Click on the attachment to read the full report:

ICICI Direct Brokerage Industry.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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