The National Stock Exchange of India (NSE) crossed a major milestone on Friday, surpassing 22 crore investor accounts. The number of accounts, measured by unique client codes (UCCs), increased by 2 crores in just 6 months pushing behind the 20-crore mark from October 2024.
The number of unique registered investors, as of March 31, 2025, stood at 11.3 crore, up from 11 crore on 20 January 2025.
The number of investors and their client codes may differ, as a single investor can hold accounts with multiple brokers and therefore can be assigned separate client codes.
Maharashtra leads in investor accounts at 3.8 crore, followed by Uttar Pradesh at 2.4 crore, Gujarat at 1.9 crore), and Rajasthan and West Bengal at 1.3 crore each. Together, these five states contribute nearly 49 per cent of total accounts. The top ten states make up about three-fourths of the overall count.
Over the past five years, the Nifty 50 Index delivered a 22 per cent annualised return, while the broader Nifty 500 Index returned 25 per cent annually, the National Stock Exchange said in a press release.
Meanwhile, the NSE’s investor protection fund (IPF) rose by over 23 per cent year-on-year to Rs 2,459 crore as of 31 March 2025.
Sriram Krishnan, chief business development Officer at NSE, said, “India’s investor base continues to expand rapidly, with over 2 crore new accounts added in just six months—a clear reflection of strong investor confidence in India’s growth trajectory despite global economic headwinds.”
He further added that simplified KYC, financial literacy efforts, and broader participation across instruments like equities, ETFs, REITs, InvITs, and bonds are helping shape a maturing investment ecosystem.
Established in 1994, the NSE was the first exchange in India to launch electronic trading. It has been the country’s largest exchange by daily and total turnover since 1995, according to SEBI data. Its integrated model includes listings, trading, clearing, settlement, indices, data, technology, and investor education. It also monitors compliance with SEBI rules.
The NSE began operations in 1994 as India’s first exchange to implement electronic trading. The stock exchange has been ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995.
