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Share of search26 Oct 20265 min read

Groww vs Zerodha vs Angel One: share of search in India, 2021 to 2026

A generation of first-time investors arrived after 2020, and branded search records which platform they went looking for. From the Colleviate Share of Search Index, with the data free to download.

Written by the Colleviate Strategy desk

Short answer

Groww has the largest share of stockbroking brand search in India: 40.1% over the three months to September 2026, against Zerodha at 30.2%. It has led every month since September 2025. Over the past year Groww gained most, +7.0 points, while Zerodha lost most, -3.3.

Download this category (CSV) Monthly, November 2021 to September 2026. Free to use with attribution. All nine categories

Who leads stockbroking search now

Shares are the average of the last three months, set against the same three months a year earlier and the first three months of the series.

BrandStart of seriesA year agoLast three monthsChange in a year
Zerodha61.2%33.5%30.2%-3.3 pts
Groww14.4%33.1%40.1%+7.0 pts
Upstox21.2%10.2%8.6%-1.6 pts
Angel One3.2%23.2%21.2%-2.0 pts
ZerodhaGrowwUpstoxAngel One
Stockbroking: monthly share of search, Nov 2021 to Sep 20260%25%50%75%100%20222023202420252026Groww 40%Zerodha 30%Angel One 21%Upstox 9%
Share of branded search within the set, by month, India, November 2021 to September 2026. Source: Google Trends; Colleviate analysis.

What changed

Zerodha's share fell from 61.2% to 30.2%, while Groww rose from 14.4% to 40.1% and Angel One from 3.2% to 21.2%. Groww first led in January 2024 and has led every month since September 2025; its spike to 52.1% in November 2025 was the month of its stock market listing. Dhan is left out of the share: the word also means wealth in Hindi and appears inside other names, which would overstate it.

Who has led, and for how long

The lead has changed hands 7 times in 59 months. Counting every month since November 2021: Zerodha for 39 months and Groww for 20 months.

LeaderFromToMonthsPublic event that month
ZerodhaNov 2021Dec 202326 
GrowwJan 2024Jan 20241 
ZerodhaFeb 2024Oct 20249 
GrowwNov 2024Feb 20254 
ZerodhaMar 2025Apr 20252 
GrowwMay 2025Jun 20252 
ZerodhaJul 2025Aug 20252 
GrowwSep 2025Sep 202613 

The months that moved it

The largest month-on-month changes in any brand's share. A spike needs a cause before it is read as demand: where a public, dated event explains one, it is named; the rest are reported as they are.

Each brand's single highest week of search interest: Zerodha in February 2024, Groww in November 2025 (the month of its stock market listing), Upstox in January 2022 and Angel One in August 2024.

Search share and market share

NSE publishes active client numbers by broker, and Angel One and Groww, both listed, report client numbers in their results. Active clients, rather than new accounts, are the closer match to what share of search tracks: people choosing a platform, or coming back to it.

This is attention, not sales: see share of search and market share, and what is a good share of search for how to read a number like this one.

How this category is measured

The search terms are “Zerodha”, “Groww”, “Upstox” and “Angel One”. Dhan is left out of the share: also the Hindi word for wealth, and part of other names such as Jan Dhan. They were pulled together, so they share one scale. Data retrieved 14 October 2026; the full method is on the index page.

The monthly data

Share of search by month, November 2021 to September 2026 (%)
MonthZerodhaGrowwUpstoxAngel One
Sep 202630.740.88.819.7
Aug 202629.040.58.422.0
Jul 202630.839.08.521.8
Jun 202630.037.99.222.9
May 202628.439.78.723.2
Apr 202628.739.98.722.7
Mar 202629.539.38.822.4
Feb 202628.740.88.322.2
Jan 202630.440.28.121.2
Dec 202530.540.38.620.7
Nov 202524.852.17.016.1
Oct 202534.235.59.520.8
Sep 202533.534.19.722.7
Aug 202533.632.410.423.6
Jul 202533.532.710.523.3
Jun 202532.434.49.923.3
May 202532.134.310.223.4
Apr 202534.033.010.122.9
Mar 202533.632.910.622.9
Feb 202533.134.010.322.6
Jan 202532.334.310.023.4
Dec 202433.134.510.022.4
Nov 202432.934.710.422.0
Oct 202433.432.810.123.8
Sep 202435.633.09.621.7
Aug 202434.033.39.723.0
Jul 202437.131.310.321.3
Jun 202436.132.910.820.3
May 202435.731.810.322.2
Apr 202436.531.110.721.7
Mar 202435.731.611.121.7
Feb 202439.930.310.918.9
Jan 202435.335.810.618.2
Dec 202340.929.911.617.6
Nov 202341.928.011.918.1
Oct 202340.827.612.219.4
Sep 202343.528.212.515.7
Aug 202344.126.912.916.0
Jul 202347.025.212.914.9
Jun 202348.624.613.013.8
May 202348.324.213.813.8
Apr 202349.922.713.613.9
Mar 202349.022.112.816.1
Feb 202351.124.312.811.8
Jan 202353.223.612.710.4
Dec 202253.223.913.59.4
Nov 202255.621.913.68.9
Oct 202256.520.914.28.4
Sep 202259.219.714.46.7
Aug 202260.819.613.65.9
Jul 202262.117.914.35.7
Jun 202262.616.515.25.7
May 202260.417.416.35.8
Apr 202259.217.018.15.8
Mar 202259.516.818.75.1
Feb 202260.616.118.84.4
Jan 202260.516.619.23.7
Dec 202161.412.922.63.1
Nov 202161.713.721.82.8

Cite this data

Free to use, quote and republish under a Creative Commons Attribution 4.0 licence, with a link to this page.

Colleviate Share of Search Index, India: Stockbroking, October 2026, colleviate.com/blog/share-of-search-stockbroking-india.html

Questions we get asked

Who has the highest share of search in stockbroking in India?

Groww, with 40.1% of stockbroking brand search over the three months to September 2026, ahead of Zerodha at 30.2%. It has led every month since September 2025.

How often has the lead changed?

The lead has changed hands 7 times in 59 months. Counting every month since November 2021: Zerodha for 39 months and Groww for 20 months.

Is share of search the same as market share in stockbroking?

No. It measures attention: the share of branded searches, which tends to move before market share but is not sales. NSE publishes active client numbers by broker, and Angel One and Groww, both listed, report client numbers in their results.

Can I use this data?

Yes. It is published under a Creative Commons Attribution 4.0 licence. Download the CSV from this page and cite it as: Colleviate Share of Search Index, India: Stockbroking, October 2026, colleviate.com/blog/share-of-search-stockbroking-india.html.

How Colleviate applies this

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