Broking incomes rise as investor interest grows in direct equity investing

Opening of new client accounts has seen a sharp jump in recent months

Broking incomes are showing signs of a pick-up with a rise in retail investors’ appetite for direct equity investing and broking houses seeing a bump up in new client accounts.

“New client accounts over recent months have moved up significantly, and activation in existing client accounts has also picked up,” said Arindam Chanda, chief executive officer at IIFL Securities.

In June quarter (Q1) of 2020-2021 (FY21), IIFL Securities saw 28 per cent jump on a year-on-year (YoY) basis in retail broking revenue, at Rs 66 crore. The institutional broking revenues were up 19 per cent to Rs 25.7 crore.

For Q1, IIFL Securities’