Priyanka Tiwari
Share
The National Stock Exchange (NSE) announced on April 11 that its total investor accounts—tracked via Unique Client Codes (UCCs)—have surpassed 22 crore, marking a significant milestone in India's retail investment landscape. This latest 2 crore addition took place in just six months, highlighting a sustained trend of rising direct participation in the capital markets.
UCCs reflect the total number of client registrations with the exchange, though individual investors can be registered with multiple brokers. As of March 2025, the count of unique registered investors on NSE stood at 11.3 crore, up from 11 crore recorded on January 20, 2025.
Top States Driving Participation
Investor activity continues to be led by a few key states:
Maharashtra: 3.8 crore accounts
Uttar Pradesh: 2.4 crore accounts
Gujarat: 1.9 crore accounts
Rajasthan and West Bengal: ~1.3 crore accounts each
Together, these five states account for nearly 49% of the total UCCs. The top 10 states contribute approximately 75% of the investor base.
Market Performance and Wealth Creation
India's stock markets have seen strong returns, which likely contributed to rising investor engagement:
Nifty 50 Index: 22% annualized return (5 years)
Nifty 500 Index: 25% annualized return (5 years)
Additionally, the NSE Investor Protection Fund (IPF) grew over 23% YoY, reaching ₹2,459 crore as of March 31, 2025.
Digital Transformation and Inclusive Investing
According to Sriram Krishnan, Chief Business Development Officer at NSE, the surge in investor accounts reflects the rapid digital shift and broader access to financial markets. He attributed the growth to:
Expansion of mobile trading
Outreach to tier 2, 3, and 4 cities
Simplified KYC processes
Nationwide financial literacy campaigns
He added that the milestone showcases a more inclusive and democratized investment environment, with increasing investor interest across diverse instruments like equities, ETFs, REITs, InvITs, and bonds.
Read More: Honda Camper Truck: Your Ultimate Adventure Companion
