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India’s retail broking ecosystem continued to witness steady expansion in April 2026, with Groww further strengthening its leadership position in the country’s fast-growing investing market. According to NSE data, the Bengaluru-based brokerage crossed 1.3 crore active users during the month, widening the gap with its competitors.
Groww added nearly 2.82 lakh active demat accounts in April, taking its market share to 28.48% of the country’s total active brokerage accounts. The platform’s continued momentum reflects rising retail investor participation across equities, mutual funds, IPOs, and derivatives trading.
The broader retail broking industry remained relatively stable during the period, with total active users increasing to 4.57 crore from 4.54 crore earlier. While Groww led incremental additions, emerging brokerage Dhan also continued its strong upward trajectory, adding more than 33,700 new accounts during the month.
Dhan, operated by Raise Financial Services, has increasingly positioned itself as a trader-focused platform catering to active market participants through advanced analytics, APIs, and trading infrastructure. The company has also been expanding its broader financial services ecosystem, recently entering the insurance distribution business through an acquisition.
Meanwhile, Zerodha showed signs of recovery after witnessing client declines in previous months. The brokerage added over 11,700 users in April, taking its total active client base to nearly 68.8 lakh. Angel One retained its third position despite a marginal decline in accounts, while Upstox saw one of the steepest drops among major brokers during the period.
Among traditional brokerage firms, ICICI Securities, SBI Securities, and Kotak Securities recorded modest gains in active accounts, while HDFC Securities reported a decline in users. Platforms such as INDmoney also continued to see gradual additions in customer base amid increasing competition in the digital wealth management space.
The growth in active investors comes amid rising retail participation in Indian capital markets, supported by increasing financial awareness, mobile-first investing platforms, simplified onboarding processes, and strong interest in equities and mutual funds from younger investors. Industry observers believe the sector will continue to see deeper penetration beyond metro cities as investing becomes more accessible across India.
Source: https://entrackr.com/news/groww-surpasses-13-cr-active-users-in-april-dhan-continues-strong-growth-11828911
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