NSE Hits 240 Million Trading Accounts As Retail Participation Grows

The National Stock Exchange of India (NSE) has achieved a significant milestone in November 2025, surpassing 240 million (24 crore) unique trading accounts. This marks a sharp rise from 200 million in October last year, highlighting the rapidly growing participation of investors in the Indian equity markets.

As of 31 October 2025, the number of unique registered investors stands at 122 million (12.2 crore), having crossed the 120 million mark on 22 September 2025. Investors may hold accounts with multiple brokers, resulting in multiple client codes for the same individual.

Maharashtra leads the state-wise tally with 4 crore investor accounts (17%), followed by:

• Uttar Pradesh – 2.7 crore (11%)

• Gujarat – 2.1 crore (9%)

• West Bengal – 1.4 crore (6%)

• Rajasthan – 1.4 crore (6%)

The top 5 states collectively account for 49% of all investor accounts, while the top 10 states contribute over 73%.

Post-pandemic, India has witnessed a significant surge in retail market participation. Individual investors’ shareholding in NSE-listed companies rose to 18.75% as of 30 September 2025, the highest in the past 22 years. Over the last five years, the Nifty 50 and Nifty 500 indices have delivered strong annual average returns of 15% and 18%, respectively.

Progressive reforms, rapid digitalisation, a growing middle class, and supportive policy measures under the leadership of Hon’ble Prime Minister Shri Narendra Modi and Hon’ble Finance Minister Smt. Nirmala Sitharaman have further strengthened investor confidence. NSE, SEBI, and the Government continue to work together to enhance financial literacy, investor protection, and market accessibility across India.

NSE has significantly scaled up its investor education efforts. In the first half of FY26, it conducted 11,875 Investor Awareness Programmes (IAPs) with 6.2 lakh participants, compared with 14,679 IAPs during the entire FY25. The Investor Protection Fund (IPF) has also grown by 19%, reaching ₹2,719 crore as of 31 October 2025.

Commenting on the achievement, Mr. Sriram Krishnan, Chief Business Development Officer, NSE, said:
“Retail investor confidence in the Indian equity markets continues to strengthen. Simplified mobile trading, easier KYC norms, and growing investor awareness have made market participation more seamless. Improved accessibility in Tier-2, Tier-3, and Tier-4 cities, along with a vast range of investment products—from equities and ETFs to REITs, InvITs, and government bonds—has enabled NSE to cross the 240 million trading account mark this year.”