The year 2024 has been one of delight for investors in the Indian stock markets. The investors shrugged off Lok Sabha polls and geostrategic tension to post lifetime highs on both the broad market indices Sensex 30 and Nifty 50. While Sensex 30 rose to 85,978.25, Nifty touched 26,277. Many investors made big gains on equities. The overall euphoria led a number of people to open demat accounts to participate in the profit-making party. One should remember that apart from equities, one also needs a demat account to invest in Exchange Traded Funds or ETFs. ETFs are mutual funds that are becoming very popular.
According to reports, the number of demat accounts in India at the end of December 2023 stood at 13.9 crore. By the end of September 2024 – in 9 months, it rose to 17.5 crore. In other words, the rise was by almost 26% in just 9 months. While that is indeed a very fast growth, the addition of demat accounts every month between January 2024 and September 2024 were the following – 46 lakh (January 2024), 43 lakh in February, 31 lakh each in March and April, 36 lakh in May, 42 lakh in June, 45 lakh in July, 42 lakh in August and 44 lakh in September.
How to open a demat account online
ONE: The first step to open a demat account is the selection of a broker. Usually, a brokerage is chosen according to their fee, customer service, reputation and the trading platform.
TWO: An application form has to be filled up. This is done on the website of the brokerage firm. The information typically needed for this purpose are: name, address, PAN card details, Aadhaar card or other documents that can serve as address proof.
THREE: All documents such as PAN, Aadhaar etc have to scanned and uploaded on the website.
FOUR: One has to electronically sign the form. The bank account has to be linked. Then KYC verification has to be completed with the selected broking firm
FIVE: When all these actions are completed appropriately, an account will be activated by a Depository Participant, popularly referred to as DP. Remember that a demat account will be opened only after the KYC verification is completed satisfactorily.
The year 2024 has been a remarkable year in stock markets with lakhs of investors making a killing in equities. The first condition to invest in the stock markets in to have a demat account. This article tells you in detail how to open such an account. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
