India’s investing spree is far from over, as the total number of unique client codes (UCCs) hit a record high towards the end of fiscal year 2024-25.
According to data from the National Stock Exchange (NSE), the total number of Unique Client Codes (UCCs) has crossed the 220 million, indicating a sharp increase in a span of six months after the exchange crossed the 200 million mark earlier in October 2024.
The release also stated that the total number of unique registered investors on the exchange has grown to 113 million as of March 31, 2025. This milestone marks the second major surge in the number of unique registered investors since January 20, 2025. when the total number of unique investors touched the 110 million mark.
Notably this boom in investing comes at a time when the market has undergone corrections after hitting record high levels in September 2024.
Additionally, D-street is currently trading under pressure due to macroeconomic uncertainties, such as US President Donald Trump’s decision to impose tariffs on trading partner countries.
As of April 11, 2025, the Sensex closed at 75,157.26, 12.58 per cent lower than its all-time high levels of 85,978.25. On the other hand, the Nifty 50 closed at 22,828.55, down 13.12 per cent compared to its all-time high levels of 22,828.55. NSE data showed that states, such as Maharashtra and Uttar Pradesh had the highest number of investor accounts as on March 31, 2025.
The total number of investor accounts in Maharashtra stood at 38 million and the total number of investor accounts in Uttar Pradesh stood at 24 million. Other states which had a high number of investor accounts included Gujarat, with 19 million investor accounts along with Rajasthan and West Bengal which have nearly 13 million investor accounts each.
NSE said that these states account for nearly 49 per cent of the total accounts. The NSE added that the top-ten states make up roughly three-fourths of the overall count of investor accounts in India.
The release added that in the last five years the Nifty 50 index has surged 22 per cent, while the Nifty 500 index has gained nearly 25 per cent. On the other hand, the exchange’s Investor Protection Fund (IPF) has also grown by more than 23 per cent year-on-year to Rs 2,459 crore
Sriram Krishnan, chief business development officer, NSE said that India’s investor base has expanded despite global economic headwinds.
“India’s investor base continues to expand rapidly, with over 2 crore (20 million) new accounts added in just six months—a clear reflection of strong investor confidence in India's growth trajectory despite global economic headwinds,” Krishnan said.
Krishan highlighted the role of technology vis-a-vis the increasing adoption of mobile trading and how it has made trading more accessible.
“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,” Krishnan added.
