New Delhi: The National Stock Exchange of India (NSE) has crossed a major landmark, with total unique trading accounts surpassing 24 crore (240 million) in November 2025. The achievement comes just a year after the exchange went past the 20-crore mark in October 2024, reflecting sustained growth in retail participation across the country.
As of 31 October 2025, the number of unique registered investors stands at 12.2 crore, having breached the 12-crore milestone in late September. Many investors hold multiple accounts across different brokers, resulting in a higher number of client codes compared with individual participants.
Maharashtra remains the leading state with over 4 crore investor accounts, contributing 17% to the national total. Uttar Pradesh (2.7 crore), Gujarat (2.1 crore), West Bengal (1.4 crore), and Rajasthan (1.4 crore) round out the top five, collectively representing nearly half of all accounts. The top 10 states together account for more than 73%. Assam alone has close to 50 lakh accounts, equivalent to a 3% share.
The North-East continues to stand out in terms of gender inclusivity in financial markets. Goa leads nationally with 33% women investors, followed closely by Mizoram at around 32%. Sikkim (31%) and Assam (approximately 30%) also rank among the top states, signalling growing awareness and interest among women in the region.
The steady acceleration in investor participation has reinforced the importance of financial literacy. As of September 2025, individual investors hold 18.75% of NSE-listed companies—reaching a 22-year peak. Market performance has also remained strong, with the Nifty 50 and Nifty 500 delivering annualised returns of 15% and 18% respectively over the past five years.
Market confidence has been supported by a combination of regulatory reforms, technological advancements, rising middle-class participation and policy initiatives under the leadership of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. NSE, SEBI, and the Government have emphasised investor protection and digital accessibility.
NSE’s investor education initiatives have expanded significantly. In the first half of FY26, the exchange conducted 11,875 Investor Awareness Programmes (IAPs), reaching nearly 6.2 lakh participants—close to last year’s full-year count of 14,679 programmes. Meanwhile, the Investor Protection Fund (IPF) grew 19% year-on-year to Rs 2,719 crore as of October 2025.
NSE’s Chief Business Development Officer, Sriram Krishnan, noted that retail investors continue to remain optimistic due to improved trading platforms, simplified KYC processes, and extensive awareness campaigns. These efforts, he said, have enhanced accessibility for participants from tier-2, tier-3, and tier-4 cities and broadened opportunities across equities, bonds, ETFs, REITs, InvITs and other instruments.
As one of the world’s largest stock exchanges, the NSE continues to strengthen India’s capital markets, supporting the nation’s long-term economic development and financial inclusion agenda.