NSE's unique registered investor base crosses 12 crore

National Stock Exchange

The National Stock Exchange (NSE) has announced that its unique registered investor base crossed the 12-crore mark on September 23, hitting a new milestone. The stock exchange's total number of investor accounts with unique client codes meanwhile stood at 23.5 crore.

The structural expansion of the investor base has accelerated meaningfully over time, NSE said in its press release on September 25. The total number of investor accounts (unique client codes) registered with NSE had crossed the key 23-crore mark in July 2025.

"The registered investor base hit the 1 crore mark 14 years after NSE started operations, the next 1 crore additions took about seven years, the subsequent 1 crore addition took about three-and-half years, and the next one a little over a year. In other words, it took over 25 years for the registered investor base to hit the 4-crore mark in March 2021, with the subsequent 1 crore investors being added in about 6-7 months," the stock exchange said.

What led to the sharp rise in investor participation?

NSE added that India's rapid rise in investor participation is fuelled by digitization, greater fintech access, an expanding middle class, and supportive policy measures under PM Narendra Modi's government.

Nifty 50 has generated returns of 7 percent, while the Nifty 500 index has delivered a strong 9 percent gain in 2025 so far, NSE said. Annualised returns over the five-year period for the two indices stood at 17.7 percent and 20.5 percent respectively, which is higher than the returns generated by broader emerging and developed market packs, it added.

"The market capitalization of NSE listed companies has increased at an annualized rate of 25.1% during this five-year period to Rs 460 lakh crore as of September 23rd, 2025, leading to a significant accretion to the household wealth. Notably, the individual investors, directly and indirectly via mutual funds, own 18.5% of the market (NSE listed companies), as of June 30th, 2025," NSE said.

'One in four investors today are women'

One in four investors today are women, and a rising interest in financial markets and stock-ownership among the country's youth has been seen in recent years, the stock exchange said in its latest press release. "The 12 crore registered investors in India today have a median age of about 33 years, down from 38 years just five years ago, with nearly 40% of them being less than 30 years old," it added.

Which states have the most unique registered investors?

The participation in stock markets has also widened across the country, with the investor base spanning across 99.85 percent of India’s pin codes, NSE said. It listed out the states with the count of unique registered investors more than a crore, as of August 31st, 2025:

1. Maharashtra: 1.9 crore
2. Uttar Pradesh: 1.4 crore
3. Gujarat: 1.03 crore

NSE said indirect participation has also increased in the markets, with around 2.9 crore new SIP accounts being opened between April 2025 and August 2025. During this period, average monthly SIP inflows stood at Rs 27,464 crores, compared to Rs 21,883 crore in the corresponding months of previous year, it added.

"India’s vibrant influx of new investors—many of them young, first-time participants—makes broadening financial awareness a priority. Over the past five years, NSE has significantly intensified its work in this area," NSE said.

Here's what key executive said:

Speaking about the fresh milestone, NSE Chief Business Development Officer Sriram Krishnan said, "This year, we have crossed another significant yardstick in terms of our investor base. After crossing the 11-crore mark in January, it is commendable that the investors onboarded by NSE have increased by an additional crore in about eight months, despite persistent concerns regarding the contours of global trade and geopolitics."

"This steady growth is supported by several key drivers: a streamlined Know Your Customer (KYC) process, enhanced financial literacy through stakeholder-led investor awareness programs, and sustained positive market sentiment. The rise in participation across Exchange-Traded instruments—including Equities, Exchange-Traded Funds (ETFs), Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), Government Bonds, and Corporate Bonds—underscores these factors," he added.

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