New Delhi: The National Stock Exchange of India (NSE) has achieved a remarkable milestone, crossing 240 million (24 crore) unique trading accounts in November 2025. This marks a sharp rise from 200 million accounts in October 2024, reflecting a significant surge of 40 million new accounts in just a year.
According to NSE data, the number of unique registered investors stood at 12.2 crore as of October 31, 2025, up from 12 crore on September 22, 2025. While investors may hold multiple accounts across different brokers, the steady growth underscores the deepening retail participation in India’s capital markets.
Maharashtra leads the nation with 4 crore accounts (17% share), followed by Uttar Pradesh (2.7 crore, 11%), Gujarat (2.1 crore, 9%), West Bengal (1.4 crore, 6%), and Rajasthan (1.4 crore, 6%). Together, the top five states account for nearly 49% of all investor accounts, while the top ten states contribute over 73%.
The pandemic years ushered in a new wave of investor enthusiasm, prompting the need for enhanced financial literacy and investor education. As of September 30, 2025, the shareholding of individual investors in NSE-listed companies reached 18.75% — the highest in 22 years. This includes both direct equity investors and those investing via mutual funds. Over the past five years, the Nifty 50 and Nifty 500 indices have delivered annualized returns of 15% and 18%, respectively.
In recent years, investor confidence has been bolstered by regulatory safeguards, rapid digitalization, and innovative trading tools. The continued expansion of India’s middle class, coupled with progressive policy reforms under Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, has strengthened the nation’s financial ecosystem. The NSE, SEBI, and the government have been actively collaborating to enhance financial inclusion and investor awareness across all segments of society.
The NSE has intensified its investor education initiatives, conducting 11,875 Investor Awareness Programs (IAPs) in the first half of FY26 alone, engaging nearly 620,000 participants. In FY25, the total number of such programs stood at 14,679. Meanwhile, the Investor Protection Fund (IPF) witnessed a 19% annual increase, reaching ₹2,719 crore as of October 31, 2025.
Commenting on the achievement, Sriram Krishnan, Chief Business Development Officer, NSE, said, “Retail investors’ confidence in the Indian stock market continues to strengthen. Simplified mobile trading, easier KYC processes, and wider financial awareness have helped sustain investor engagement amid dynamic global conditions. Importantly, we are witnessing robust participation from smaller cities and towns — Tier 2, Tier 3, and Tier 4 regions — as access to markets becomes more inclusive.”
He added that investors today have access to a diverse range of financial instruments, including equities, debt securities, ETFs, REITs, InvITs, and government as well as corporate bonds. “All these efforts have culminated in this milestone moment — with NSE crossing 240 million investor accounts in November 2025,” Krishnan said.
With this record, the NSE further solidifies its position as one of the world’s largest and fastest-growing stock exchanges, reflecting India’s expanding retail investor base and the country’s growing influence in the global financial landscape.
