added 3 million clients in 2019, an increase of 4.5 per cent over the previous year. The increase was below the previous 5-year annual growth of 11 per cent. Volatility in the markets
is a possible factor behind the decline in client addition. Last year, the Nifty rose 12 per cent but the broader indices Nifty MidCap100 and Nifty SmallCap 100 had declined 4.3 per cent and 9.5 per cent, respectively. “We should be looking to touch the 50-million investor mark over the next three years,” said Vikram Limaye, MD and CEO of the NSE.
At present, the exchange has 30 million clients. To achieve the target, its client base will have to grow at over 18 per cent annually.