Angel One shares climbed 1.7% to ₹349.40 on the National Stock Exchange in early Thursday trading, while Billionbrains Garage Ventures, the parent company of digital broker Groww, initially jumped 2% to ₹220.98 before pulling back.
The moves followed the release of first-quarter earnings for both firms, which have become key barometers for retail participation in Indian equity markets.
The price action reflects continued investor confidence in the discount broking segment, which has benefited from sustained retail trading volumes.
Angel One's earlier gains, having previously touched ₹351 on strong June business metrics, suggest that the market is rewarding firms with expanding gross client balances and active user bases.
The sector's performance underscores the structural shift toward digital-first brokerage models in India.
While Billionbrains saw its initial gains fade, the broader focus remains on how these platforms are monetizing their growing user bases.