NSE crosses 22 crore total investor accounts

The National Stock Exchange of India (NSE) hit a major milestone in April 2025, with the total number of investor accounts also known as Unique Client Codes (UCCs) surpassing 22 crore. This sharp rise comes just six months after crossing the 20-crore mark in October 2024, reflecting the rapid growth of retail participation in the markets.

As of 31 March 2025, the number of unique registered investors which accounts for individuals, not accounts stands at 11.3 crore, up from 11 crore on 20 January 2025. Since investors can maintain accounts with multiple brokers, one person may hold several client codes.

 

Maharashtra leads the investor race with 3.8 crore accounts, followed by Uttar Pradesh (2.4 crore), Gujarat (1.9 crore), and Rajasthan and West Bengal, each contributing approximately 1.3 crore accounts. These five states alone account for nearly 49% of all UCCs, while the top ten states together make up around 75% of the total.

Meanwhile, the stock market has rewarded this growing investor base handsomely. The Nifty 50 Index has delivered an impressive 22% annualized return over the past five years, while the broader Nifty 500 Index outperformed with a 25% annualized return highlighting the robust wealth creation during this period.

Adding to this momentum, the NSEs Investor Protection Fund (IPF) grew by over 23% year-on-year, reaching Rs 2,459 crore as of 31 March 2025, further reinforcing the exchanges commitment to investor safety and confidence.

Sriram Krishnan, chief business development officer, NSE said, "Indias investor base continues to expand rapidly, with over 2 crore new accounts added in just six monthsa clear reflection of strong investor confidence in India's growth trajectory despite global economic headwinds. This surge has been driven by accelerated digital transformation and the increasing adoption of mobile trading, which have made capital markets more accessible to investors across tier 2, 3, and 4 cities. The growth also highlights the success of focused initiatives to deepen retail participation, including widespread financial literacy programs and streamlined KYC processes. As participation broadens across a range of instruments Equities, ETFs, REITs, InvITs, and Bondsthis milestone signals a maturing financial ecosystem where technology is playing a pivotal role in democratizing investment opportunities."

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