Angel One shares dip nearly 5% after announcing November business update

The brokerage firm reported a near 15% dip in Gross Client Acquisition in November; the dip, however, can be attributed to lesser number of trading days last month.

Shares of Angel One plunged 4.7 per cent to hit a low of Rs 3,069 in intra-day trade on Friday after the brokerage firm reported its monthly business update.  According to a release issued by Angel One to the BSE, the brokerage reported an 11.9 per cent year-on-year (YoY) and a 14.6 per cent month-on-month (MoM) dip in Gross Client Acquisition in the month of November 2024 when compared with a year ago and a month ago period.  Further, the release shows that the overall notional turnover in November 2024 saw a dip of 12 per cent MoM; in case of F&O (futures & options) turnover the decline was 12.5 per cent (MoM). Similarly, F&O options premium turnover also was down 5.8 per cent MoM.  The monthly report, clearly shows, the dip in client acquisition and corresponding drop in turnover could be owing to lesser number of trading days in November 2024 (18 trading sessions) when compared with last November (20 sessions) and October 2024 (22 sessions).  The report also shows the Client base has grown by 2 per cent MoM this November, and a massive 56 per cent when compared to the year ago period.  At 9:45 AM; Angel One stock has recovered partly from the day's low but still traded with a loss of 3.6 per cent at Rs 3,104. The counter had seen trades of around 26,000 shares in the first 30 minutes of trade as against the two-week average volumes of around 71,000 shares on the BSE.  In comparison, the Sensex was trading on a flat note around its previous day's close.  Despite today's loss, Angel One stock so far this week has gained 7.5 per cent. The stock recently was included in the futures & options segment from the December series onwards.  The 52-week high for Angel One stands at Rs 3,900 and the 52-week low at Rs 2,027 on the BSE. At present levels, the stock is trading 20.4 per cent away from its 52-week high; and 53.3 per cent higher when compared to its 52-week low.