Bumper year for broking stocks amid a buoyant outlook for the sector

Record addition of clients lift shares amid broader market rally

Shares of most brokerages have rallied substantially over the past year amid a buoyant outlook for the sector and record addition of clients.

Angel One and Arihant Capital have seen their share prices surge 323 per cent and 230 per cent, respectively, while the likes of Emkay Global Financial Services, Geojit Financial Services and ICICI Securities have all gained more than 50 per cent.

During this period, the benchmark Sensex rallied 19 per cent.

According to market observers, the broking industry has witnessed a lot of changes over the past few years, led by disruptions from discount brokers, buoyancy in the equity markets,