Angel One shares fall 4%, take losing run to 3rd day. Here's why

Shares of Angel One Ltd fell 4 per cent in Monday's trade, as data showed the brokerage's gross client acquisition declined 21.1 per cent month-on-month (MoM) to 9 lakh in August. On YoY basis, the gross client acquisition was up 23.3 per cent. The scrip also declined amid weakness in the broader market.

The stock fell 3.8 per cent to hit a low of Rs 2,325 on BSE. The scrip later recovered losses and was later trading at Rs 2,406.25. This was the third straight day of fall for Angel One.  The broking stock has fallen 9 per cent during the said period.

Angel One said its total client base stood at 2.67 crore in August, up 3.3 per cent MoM or 62.9 per cent YoY. The average funding book rose 3.2 per cent MoM (169.6 per cent YoY) to Rs 3,850 crore. The number of orders stood at 16.12 crore for August, down 5.9 per cent MoM or up 40.8 per cent YoY. Angel One's number of orders per day declined MoM to 77 lakh, MOFSL noted. 

"The overall ADTO rose 3.1 per cent MoM as the F&O segment’s ADTO grew 3.2 per cent MoM and the commodity segment’s ADTO increased 4.1 per cent MoM. However, ADTO in the cash segment declined 15 per cent MoM. Based on the option premium turnover, the overall market share and F&O market share remained flat MoM at 19.3 per cent/ 20.7 per cent," MOFSL noted.

Angel One's market share for the cash segment fell 10 bps MoM to 17.4 per cent. The number of registered unique MF SIPs also declined 4 per cent MoM to 7.4 lakh in August.