Angel One shares rise 3% as client base grows on month in March

Shares of Angel One rose by over 3 percent in early trade on April 6 after the company reported a 3.3 percent on-month growth in its client base.

During the month, the broking company’s client base rose to 137.8 lakh from 133.3 lakh in February.

At 11.20 am, shares of Angel One were trading at Rs 1,183 on the National Stock Exchange, up 1.25 percent from the previous close. The stock also tested an intraday high of Rs 1,214.

Four lakh shares of the company changed hands, as compared to the one-week daily traded average of three lakh shares.

The number of orders also grew 11.7 percent month-on-month in March to 932.2 lakh, which reflects the rising demand, all thanks to a slew of initial public offerings that were lined up through the month.

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On that account, the broking company’s average daily turnover also jumped 18.5 percent on month and 135.5 percent on year to Rs 2,082,800 crore.

The futures and options segment continued to attract strong traction, however, the cash segment saw subdued interest.

Angel One also managed to expand its overall equity retail turnover market share by 120 basis points from the previous month to 23.8 percent. On a yearly basis, the equity retail turnover market share expanded by 265 basis points. One basis point is one-hundredth of a percentage point.

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