Now Reading: Angel Overtakes Zerodha as India’s Second-Largest Broker
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Angel Overtakes Zerodha as India’s Second-Largest Broker
The Story in Brief
Angel One has overtaken Zerodha to become India's second-largest stockbroker by active clients, with a market share of 14.97% against Zerodha's 14.47% as of October 2026, according to National Stock Exchange data. Angel One added 2.43 lakh active clients during the month, taking its active client base to 69.99 lakh. Zerodha's active clients fell by about 33,000 to 67.59 lakh.
Groww remained the largest broking platform with 29.43% market share, adding 3.04 lakh active clients. India's broking industry added roughly 6.15 lakh net active clients in October, raising the total active client base on the NSE to 4.67 crore. The next NSE monthly data will show whether Angel One retains its lead over Zerodha.
Indian Opinion Analysis
Competing claims dominate the coverage. Cnbcctv18 leads with industry-level net additions while The Hindu Business Line leads with Angel One overtaking Zerodha as the second-largest broker, both name the same underlying NSE data but front different protagonists. Ndtvprofit emphasises Angel One's total client count crossing 4 crore and profit growth, framing the company's own numbers as the story. Between them the outlets are consistent on the key figures: Groww added 3.04 lakh active clients, Angel One 2.43 lakh, and Zerodha lost 33,000. The only factual deviation is the total client figure for Angel One used by ndtvprofit (4.06 crore total, including dormant accounts) versus the NSE active-client figure common to the other two. A balanced reading takes the active-client ranking as the industry benchmark: Angel One now holds 14.97% active-client market share to Zerodha's 14.47%, with Groww far ahead at 29.43%. The next data point to watch is the November NSE active-client tally.
Coverage: 3 sources, 3 neutral
Sources (3): ndtvprofit.com (neutral report), thehindubusinessline.com (neutral report), cnbctv18.com (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry. Methodology and corrections.
