Leading stock exchange BSE on Tuesday crossed the milestone of 8 crore registered users based on Unique Client Code (UCC). The journey from 7 crore to 8 crore users took just a little more than 15 months.
“BSE reached 8 CR (80 million) Unique client code (UCC) – investors account today. Amazing,” Ashish Chauhan, CEO BSE, tweeted.
Earlier in June last year, BSE had registered 7crore registered users. The journey from 6 crore to 7 crore users took just 139 days, as compared to 241, 652 and 939 days needed for the previous milestones of 6 crore, 5 crore and 4 crore, respectively.
The growth is believed to be fuelled by tech-savvy young users, with an age profile of 20-40.
According to the data released by the BSE, among states, the fastest growth rates from 7 crore to 8 crore registered investor accounts have been recorded by Uttar Pradesh, Maharashtra and Gujarat. Maharashtra alone contributed 50 lakh investors to push the tally. From Uttar Pradesh and Gujarat, 24 lakh and 21 investors, respectively, started investing directly into the market.
Apart from these states, the other states that made a major contribution to this rally are Karnataka, Madhya Pradesh, Rajasthan, Telangana and West Bengal.
BSE Limited is a stock exchange located on Dalal Street in Mumbai. It was established in 1875 and is the oldest stock exchange in South Asia, and also the tenth oldest in the world.