Capital Market Tracker - Cash ADTO Recovers; NSE Active Client Additions Weaken: Motilal Oswal

Motilal Oswal Report

Capital market sentiment of India Inc. was volatile in February 2023, with the Nifty ending the month down 2% month-on-month after gyrating between 17,300 and 18,000. Overall average daily turnover volume inched up 3% month-on-month to Rs 209 trillion as volumes improved for both cash and Futures and Options segments.

Overall retail ADTO was flat month-on-month at Rs 77 trillion, whereas retail cash ADTO recovered by 5% month-on-month to Rs 239 billion after a 9% drop in Jan-23.

Demat account additions stood at 2.1 million, which has been steady for the past three months but lower than the average of 2.9 million in FY22.

Conversely, the number of active users on NSE declined for the eighth consecutive month to 33.6 million in Feb-23 from 34.3 million in Jan-23.

Angel One Ltd., which has higher dependence on F&O income, saw its daily orders increase 3.2% month-on-month. With flat retail F&O volumes, it will be pertinent to watch ICICI Securities Ltd.’s scale-up in the F&O segment.

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