NSE registered investor base crosses 12 crore unique investors
The
unique registered investor base on the National Stock Exchange of India crossed
the 12-crore (120 million) mark on September 23rd, 2025. The total number of
Investor Accounts (Unique Client Codes) registered with NSE stands at 23.5
crore (as of September 23rd, 2025), having crossed the 23-crore mark in July
2025. (Includes all client registrations done till date; clients can register
with more than one trading member).
The
structural expansion of the investor base has accelerated meaningfully over
time. 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.
India’s
rapid rise in investor participation is driven by digitization, greater fintech
access, an expanding middle class, and supportive policy measures under the
leadership of Hon’ble Prime Minister Shri Narendra Modi.
In
this fiscal year thus far (as of September 23rd, 2025), the benchmark Nifty 50
index has generated returns of 7.0%, while the Nifty 500 index has delivered a
strong 9.3% gain during this period. Annualised returns over the five-year
period ending September 23rd, 2025 have been 17.7% and 20.5% for Nifty 50 and
Nifty 500 respectively, higher than returns generated by broader emerging and
developed market packs. 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.
One
in four investors today are women. Further, we have seen rising interest in
financial markets and stock-ownership among the country’s youth in recent years
– a testament to the trust placed by these investors in the capital market
ecosystem. 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.
This
has been accompanied by widening participation across the country. The investor
base today spans covering 99.85% of India’s pin codes. As of August 31st, 2025,
there were three states with the count of unique registered investors more than
a crore, with Maharashtra leading the pack with 1.9 crore (19 million)
investors, followed by Uttar Pradesh with 1.4 crore (14 million) investors and
Gujarat, the latest entrant in this set, with 1.03 crore (10.3 million)
investors.
Indirect
participation has also continued to rise steadily during the current fiscal, as
evidenced by almost 2.9 crore (29 million) new SIP accounts opened between
Apr’25- Aug’25. During this period, average monthly SIP inflows stood at Rs
27,464 crores (~US$3.2 bn), compared to Rs 21,883 crore (~US$ 2.5 bn) in the
corresponding months of last year.
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. Investor
Awareness Programs (IAPs) by NSE have quadrupled—from 3,504 in FY20 to 14,679
in FY25—reaching more than 8 lakh participants across all states and union
territories. Meanwhile, NSE’s Investor Protection Fund (IPF) has grown by
nearly 21% YoY to Rs 2,644 crore as of August 31st, 2025.
Shri
Sriram Krishnan, Chief Business Development Officer, NSE, 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.”
About National Stock Exchange of India
Limited (NSE): National Stock Exchange of India (NSE) was
the first exchange in India to implement electronic or screen-based trading. It
began operations in 1994 and is ranked as the largest stock exchange in India
in terms of total and average daily turnover for equity shares every year since
1995, based on SEBI data. NSE has a fully integrated business model comprising
exchange listings, trading services, clearing and settlement services, indices,
market data feeds, technology solutions and financial education offerings. NSE
also oversees compliance by trading, clearing members and listed companies with
the rules and regulations of SEBI and the exchange. NSE is a pioneer in
technology and ensures the reliability and performance of its systems through a
culture of innovation and investment in technology. NSE is the world’s largest
derivatives exchange by trading volume (contracts) as per the statistics
maintained by Futures Industry Association (FIA) for calendar year 2024. NSE is
ranked 2nd in the world in equity segment by number of trades (electronic order
book) in 2024, as per the statistics maintained by World Federation of
Exchanges (WFE).
