Active user base of major stockbrokers drops by a million this year amid regulatory tightening

The total active user base of major Indian stockbroking platforms declined in the first half of this year, as tighter regulatory scrutiny around trading instruments such as futures and options (F&O) and market volatility dampened retail investor participation.

According to data from the National Stock Exchange (NSE), the combined active investor base of major platforms, including initial public offering (IPO)-bound Groww, Zerodha, Angel One, Dhan, Paytm Money, and PhonePe, fell to 29.5 million in June, down from 30.5 million in February.

Groww retained…