Groww continues to lead stock broking space; PhonePe’s share dips 6%

The Indian stock market’s active user base has declined for the second consecutive month, falling 4% in July 2025 to 45.96 million from 47.89 million in June. The active user base had peaked at 49.67 million in January this year.

Groww retained its lead with a 26.87% market share and 12.35 million active clients, despite a 1.81% month-on-month decline from 12.58 million in June, according to NSE data.

Zerodha held the second spot…