NSE’s average daily turnover in cash segment hits 15-month high

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Number of stocks traded on the NSE was down at 3,911 in January against 4,020 in December as investors narrowed their stock selection. | Photo Credit: FRANCIS MASCARENHAS

The average daily turnover (ADT) in the equity cash segment on the NSE has hit a 15-month high of ₹1,19,560 crore in January, an increase of 27 per cent compared to ₹94,496 crore logged in December, as retail investors used the fall in the markets to stock-up and cut down on their losses. ADT was up 24 per cent year-on-year compared to ₹96,167 registered in January, 2025.

Overall, turnover in the cash segment on the exchange increased 14 per cent last month to ₹24 lakh crore against ₹21 lakh crore logged in December. The cash market turnover jumped 9 per cent year-on-year.

However, the number of stocks traded on the NSE was down at 3,911 last month against 4,020 in December as investors narrowed their stock selection.

Given the bearish sentiments, the market-capitalisation in the cash segment of NSE was down four per cent in January at ₹4.58 lakh crore against ₹4.74 lakh crore logged in the previous month.

Similarly, ADT on BSE was up 28 per cent on a monthly basis at ₹9,053 crore against ₹7,065 crore in December while year-on-year it rose 59 per cent.

The turnover on BSE increased 17 per cent to ₹1.81 lakh crore (₹1.55 lakh crore) and 38 per cent year-on-year as investors continued to bet big on India’s growth story amid global meltdown and growing geo-political tension.

Demat accounts rise

In a sign of growing retail participation, the number of demat accounts increased 17 per cent to 21.6 crore against 18.53 crore in the same period last year. The flurry of initial public offerings and an eye on listing gains has enthused investors into opening demat accounts.

The bellwether Sensex tanked three per cent to 82,270 points in January against 85,221 points in December on the back of concern over earnings growth amid global uncertainty.

Puneet Sharma, CEO and Fund Manager, Whitespace Alpha, a category-III AIF, said investors are concentrating capital in fewer, more liquid names rather than spreading it across the broader universe. This is driven by a combination of heightened volatility, preference for balance-sheet strength, and increased participation by institutions and active traders who tend to focus on index-heavy and large-cap stocks, he said.

“Selectivity is a natural response to volatility and valuation concerns. However, this is not necessarily negative. As earnings growth stabilises and confidence improves, participation should broaden again. For now, the trend reflects caution, not withdrawal. Investors are staying invested, but with greater discrimination,” he said.