Demat accounts growth implies the improved participation and maturity of capital market that in turn implies many prospects:
- Increased momentum in equity market and more businesses start to IPO
- More and more investors moving from speculative trading (about 50% of global F&O trading were happening in India), and now with increased STCGT and STT) many of those investors will start investing for longer term
- Equity market liquidity make investors more cash-flow-rich than the old style asset-rich, which then lead to increased consumption
Ann: FND FY25 Guidance & Market Update Presentation, page-14
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