The number of new demat accounts in India reached a 10-month high in October, a surge from around 2.5 crore accounts in 2016 and 4 crore in 2020, reports stated. This surge is driven by strong primary and secondary market performance and record IPO fundraising of over ₹39,000 crore. Additionally, monthly SIP contributions have hit over ₹29,500 crore in October.