Angel One overtakes Zerodha to become India’s second-largest stockbroker, commands nearly 15% market share

Angel One has overtaken Zerodha to become India’s second-largest stockbroker by active clients, with a market share of nearly 15 per cent against Zerodha’s 14.5 per cent in October 2026, according to National Stock Exchange (NSE) data. Groww retained its position as India’s largest broking platform, with nearly 30 per cent market share.

Angel One added 2.43 lakh active clients during October, taking its active client base to 69.99 lakh. Zerodha, meanwhile, witnessed a decline of approximately 33,000 active clients, bringing its base down to 67.59 lakh. The latest data marks a change in the ranking of India’s top stockbrokers, with Angel One moving ahead of Zerodha.

India’s broking industry added approximately 6.15 lakh net active clients in October, taking the total active client base on the NSE to 4.67 crore.

Groww added 3.04 lakh active clients during the month, accounting for nearly 49.5 per cent of the industry’s net additions. Its active client base increased from 1.34 crore in September to 1.38 crore in October, while its market share rose from 29.16 per cent to 29.43 per cent.

Notably, Groww’s net active client additions were approximately 1.5 times the combined additions of the next four largest brokers by active client base — Angel One, Zerodha, ICICI Securities and Upstox — which collectively added around 2.02 lakh clients.

Among other leading brokers, ICICI Securities retained the fourth position, adding around 3,000 active clients to reach 21.64 lakh. Upstox recorded a decline of approximately 11,000 clients, taking its active client base to 18.43 lakh.

Among other notable additions, Sahi added 34,372 active clients during October, while Dhan added approximately 26,000. Kotak Securities, Motilal Oswal and HDFC Securities added around 13,000, 7,000 and 6,000 clients, respectively.