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Highlights of November 2019
Equity business
- The overall broking revenues grew by 3% month on month (MoM)
- The number of new accounts also increased by 7% over October 2019, that is a growth of 6% or more for two months in a row
- Our market share in the cash, and futures and options markets improved by 1% each MoM
Mutual funds
- The assets under management (AUM) rose by 1% to Rs3,762 crore MoM
- Our ranking in the industry in terms of new SIP counts jumped up by two notches from 17 in October to 15 with new SIP registrations of 10,570 and new SIP executions of 8,500
- Our ranking in the industry in terms of AUM remained among the top 50
Positive developments like interest rate cuts by the major global economies including India, policy reforms and the announcement of the “first phase” of a trade deal between the USA and China have kept the Indian stock market buoyant since the second half of October 2019. In November, the benchmark index, Nifty, touched a life-time high of 12,158 as foreign institutional investors net purchased Indian equities worth $3.2 billion during the month, their best show so far in FY2020. As investor sentiment improved, the number of new accounts opened with Sharekhan increased from 626 to 671 per day. Overall, our performance in the broking business was stable on the back of the positive market sentiment. The business of mutual fund distribution also gained from the improving market sentiment and our industry ranking in new SIP counts improved. The buoyant market would no doubt take us closer to our annual targets.
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