Bengaluru, Nov. 23 -- India's depository market is dominated by two giants, which are National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). While both enable electronic storage and transfer of securities, their business models and investor bases differ markedly.

NSDL primarily serves institutional clients and commands a dominant share of demat custody value, reflecting its focus on high-value accounts, mutual funds, and government projects. On the other hand, CDSL leads in the number of demat accounts, catering mainly to retail investors and benefiting from fintech-driven retail participation.

Price performance With market capitalization of Rs. 22,730 cr, the shares of National Securitie...