Wealthy investor accounts swell on market boom

The wealthy investor count has seen a sharp jump in the past three years because of the rally in the stocks and boom in initial public offerings (IPOs). The so-called high networth individuals (HNIs) count —those with value of their stock holdings in excess of Rs 10 lakh — have jumped three-fold to 124,978 at the end of March 2016 from 66,958 in March 2013, data provided by depository firm Central Depository Services show.

Although comparable data from the National Securities Depository is not available, market participants say the pattern is expected to be similar.

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