New demat account additions reached a nine-month high in October 2026, marking the fourth monthly increase in five months after a prolonged period of moderation between January 2025 and May 2026. According to reports from The Economic Times, NSDL and CDSL together added nearly 3.36 million demat accounts during the month, representing the highest monthly addition since January 2026. The total number of demat accounts stood at around 244 million at the end of October. The increase in account openings was mainly influenced by the successful launch of several public issues, with robust primary market activity being the primary driver of the increased account openings.
Robust primary market activity was the primary driver of the increased account openings, with October being the busiest month for IPO activity in 2026. As reported by The Economic Times, 13 issues raised a record ₹44,507 crore during the month, including the Jio Platforms IPO - India's biggest ever. Sunny Agrawal, head of fundamental equity research at SBICAPS Securities, noted that demat account openings typically rise when there is a surge in IPO activity, as investors open accounts to participate in public issues. The recent listing activity, including the large Jio Platform IPO and several smaller issues, has contributed significantly to the increase in account openings.
The pickup in demat account additions coincided with gains in benchmark indices, with the Sensex rising 2% and the Nifty gaining 1.9% in October. However, according to The Economic Times, broader market segments, which see greater retail participation, underperformed during the same period, highlighting the selective nature of investor interest during the IPO boom.
The number of demat accounts does not represent unique investors, as individuals can hold multiple accounts. According to NSE data cited by The Economic Times, the number of unique investors is estimated at around 136.6 million as of September. Growing interest in gold and silver exchange-traded funds (ETFs) has also encouraged retail investors to open demat accounts, as these products can be purchased through the secondary market using a demat account. As noted by Agrawal, investors can purchase these products through the secondary market using a demat account, further expanding the utility of these accounts beyond traditional equity trading.
