The current crisis seems to be a blessing in disguise for these brokerages, as their number of clients as well as orders increased in March. Moreover, there has been a significant increase in trading volumes and demand for opening new accounts as well.
Brokerages have seen a spurt in new client additions as many investors want to buy stocks that are currently available at multi-year lows with the benchmarks having lost more than 30% from the record highs touched in January. “We have seen about 1.5 lakh new client additions this month, which is double the average monthly numbers seen in most months last year,” said Nithin Kamath, CEO, Zerodha.
Are you also looking up on the internet for multibaggers? You are not alone. An analysis of Google Trends shows that the interest in 'multibaggers' is nearing the peak, which historically happens when the market is going through a correction.
The company is the first Indian broker to offer this product based on an in-house proprietary technology with analytics. It offers analytics beyond regular portfolio concept of profit and loss of stock, the company said in a statement.