Angel One Share Price Drop 5.48% After November Gross Client Acquisition Falls 17% YoY

Mumbai, 3 December 2025: Angel One Ltd (NSE: ANGELONE) shares fell sharply on Wednesday after the brokerage reported a decline in gross client acquisition for November, despite continued growth in its overall client base.

Gross Client Acquisition Declines 17% YoY, Client Base Grows 22%

Angel One reported gross client acquisitions of 500,000 in November, marking a 17% year-on-year decline, even as its total client base expanded 22% to 35.08 million from the same period last year, according to an exchange filing. The slowdown in new client additions comes amid softer market activity, reflecting moderation in daily trading volumes.

Orders Fall Over 10% YoY, Average Daily Orders Dip 15%

The company’s trading activity also slowed, with the number of orders dropping 10.4% YoY to 117.3 million, while average daily orders declined 15.1% YoY to 6.2 million in November. Although the overall average daily turnover based on option premium surged 98% YoY to ₹1.87 lakh crore, the average futures and options turnover decreased 5.4% to ₹14,000 crore, highlighting mixed performance across trading segments.

Market Share Shifts: Retail Equity Up, F&O and Commodity Share Price Down

Angel One’s retail equity market share increased 18 basis points YoY to 20.3%, while its futures and options (F&O) retail market share fell 46 basis points to 21.5%. The company’s commodity turnover market share declined sharply by 719 basis points to 52.5%, suggesting shifting client preference across segments.

In the filing, the company stated: “We delivered a historic high in our average client funding book, reflecting deepening engagement of clients with the product. Softer market conditions resulted in some moderation in our daily order run rate. Additionally, our October 2025 cash market share has been revised upwards following a revision in the industry’s retail turnover for the segment, subsequent to our publishing the October 2025 data.”

Angel One Stock Price Drops 5.48% to ₹2,660 Amid Sector Weakness

On the National Stock Exchange (NSE), Angel One share price closed at ₹2,660, down ₹154.20 or 5.48% at 3:30 pm IST, marking the steepest single-day fall since August. Its competitor, Groww, traded 1.5% lower at ₹155.55 on Wednesday. Angel One was the top loser on the Nifty Capital Markets index, which itself declined 1.2% to 4,689 in morning trade, alongside losses from CDSL, Nippon Life India Asset Management, and Motilal Oswal Financial Services, which fell 1.5%-1.7%.

The decline in Angel One’s gross client acquisition and daily order volumes highlights the impact of softer market conditions, even as the overall client base continues to grow. The mixed performance across equity, futures, and commodity segments reflects shifting trading preferences and the dynamic nature of retail financial markets.

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