The Covid-19 pandemic may be accelerating a process of consolidation among stock brokers. An analysis of data from the Securities and Exchange Board of India’s monthly bulletins shows that more and more of the trading turnover has been coming from fewer brokers since the pandemic. The top ten brokers accounted for 44 per cent of the BSE cash segment turnover in December 2019.
It has since risen to 55.9 per cent according to the latest data (for July). It has risen from 40.4 per cent to 45.3 per cent on the National Stock Exchange. The share of the top ten brokers was closer ...
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