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The National Stock Exchange of India (NSE) recently crossed a major milestone, with the number of customer accounts on the exchange crossing the 20 billion mark in October 2024. This increase represents a significant increase from the 16.9 billion accounts recorded just eight months ago and confirms the rapid expansion. Percentage of retail participation in Indian capital markets.
The state with the highest number of accounts is 3.6 billion yen, followed by Uttar Pradesh with 2.2 billion yen, and Gujarat with 1.8 billion yen. Rajasthan and West Bengal each contributed 1.2 billion accounts, which together account for almost half of the total customer base. The top 10 states together account for about 75% of NSE’s total accounts.
In addition to reaching 20 million customer accounts, the exchange also announced that its unique registered investor base has reached 10.5 billion, passing the 10 million mark in August 2024. This increase reflects a significant increase of approximately 3 million accounts since February 2024, and this is proof. Consumer confidence in the Indian financial market is strong.
“This milestone highlights the huge confidence investors have in India’s growth story,” commented Sriram Krishnan, Chief Business Development Officer, NSE. “This rise is being driven by digital transformation and technological innovation, enabling broader market access, especially for tier 2, 3 and 4 cities.”
Mr. Krishnan cited several factors for the growth, including adoption of mobile trading applications, government digitalization efforts, simplified KYC processes, and increased financial literacy. This accessibility has facilitated participation in diverse products such as stocks, ETFs, REITs, InvITs, and bonds, making investing more inclusive.
Amid its strong financial performance, NSE also reported a 39% year-on-year increase in consolidated net profit to Rs 2,567 crore for the quarter ended June 2024, making it a key player in India’s evolving financial ecosystem. It further highlighted the exchange’s strong growth trajectory.
