Mumbai (Maharashtra) [India], October 30 : The National Stock Exchange of India (NSE) has achieved a milestone, surpassing 20 crore (200 million) total client accounts in October 2024.
According to NSE, this growth marks an impressive increase from 16.9 crore (169 million) accounts just eight months prior, reflecting a significant surge in retail investor participation in the Indian financial markets.
Among Indian states, Maharashtra leads with the highest number of client accounts, totaling 3.6 crore, followed by Uttar Pradesh with 2.2 crore and Gujarat with 1.8 crore. Rajasthan and West Bengal each contribute approximately 1.2 crore accounts.
Together, these five states account for nearly 50 per cent of the total client accounts, while the top ten states comprise approximately 75 per cent of the overall figure.
The NSE also reported that its unique registered investor base has reached 10.5 crore, crossing the 10 crore (100 million) mark on August 8, 2024.
Sriram Krishnan, Chief Business Development Officer of NSE, expressed his enthusiasm about this achievement, stating, "We have achieved another remarkable milestone in our investor base, with the exchange witnessing an increase of around three crore total accounts in just over eight months following February's count of almost 17 crore. This exceptional growth reflects strong investor confidence in India's growth story, driven by digital transformation and technological innovation."
Krishnan highlighted the role of mobile trading applications and increased investor awareness in democratizing market access, particularly for investors from tier 2, 3, and 4 cities.
He noted that streamlined Know Your Customer (KYC) processes, enhanced financial literacy programs, and positive market sentiment have contributed to this expansion, as evidenced by robust participation in various investment instruments, including equities, exchange-traded funds (ETFs), real estate investment trusts (REITs), infrastructure investment trusts (InvITs), and bonds.