Summary of this article
Geographically, North India led the surge with the addition of 42.93 million total unique investors in FY 2025-26 (Year-to-Date).
Uttar Pradesh witnessed the addition of 2,01,300 investors in July, the highest among all states.
So far in FY26 investors aged under 30 or Gen Z investors make up 56.2 per cent of the total investors in the Indian securities market
The Indian Securities Market has witnessed a rise in participation in the past few years. The number of unique registered investors has increased to 118 million as of July 31, 2025. This surge followed the addition of 1.51 million new investors in the month of July. Notably this influx was the highest addition of new investors in the past six months according to NSE’s Market Pulse report. Additionally the total unique trading accounts also surged to 230 million in July.
Geographically, North India led the surge with the addition of 42.93 million total unique investors in FY2025-26 (Year-to-Date), followed by Western India, which saw the addition of 35.22 million investors. Other regions, such as South India, saw the addition of 24.5 million total unique investors, and East India saw the addition of 14.24 million total unique investors. Here’s a look at which states led the surge:
Uttar Pradesh
Uttar Pradesh witnessed the addition of 2,01,300 investors in July, the highest among all states, increasing by 13.5 per cent from 1,77,300 investors in the month of June. The total number of investors in Uttar Pradesh increased to 13.5 million, representing as much as 11.5 per cent of the total unique registered investors in India.
Maharashtra
Maharashtra witnessed the addition of 1,78,900 investors in July, the second highest among all states increasing by 15.64 per cent from 1,54,700 investors in the month of June. The total number of investors in Maharashtra increased to 18.96 million representing as much as 16.1 per cent of the total unique registered investors in India.
Gujarat
Gujarat witnessed the addition of 1,16,100 investors in July, the highest among all states increasing by 69.2 per cent from 1,77,300 investors in the month of June. The total number of investors in Gujarat increased to 10.23 million representing as much as 8.7 per cent of the total unique registered investors in India.
Tamil Nadu
Tamil Nadu witnessed the addition of 89,200 investors in July, the highest among all states increasing by 8.85 per cent from 97,100 investors in the month of June. The total number of investors in Tamil Nadu increased to 6.58 million representing as much as 5.6 per cent of the total unique registered investors in India.
West Bengal
West Bengal witnessed the addition of 92,900 investors in July, the highest among all states increasing by 10.07 per cent from 84,400 investors in the month of June. The total number of investors in West Bengal increased to 6.94 million representing as much as 5.9 per cent of the total unique registered investors in India.
NSE mentioned in its report that the age demographics of investors have also witnessed a shift in FY26. So far in FY26 investors aged under 30 or Gen Z investors make up 56.2 per cent of the total investors in the Indian securities market. Notably this is higher than the share of the age group for the entire preceding fiscal in which the share was around 53.2 per cent.
The exchange also said in its report that female investor participation has risen across states in FY26 so far. However Goa saw the highest participation of female investors at 32.8 per cent among all states followed by Mizoram (32.3 per cent), Chandigarh (32.1 per cent) and Sikkim (30.4 per cent).
For the top-five states in terms of number of investors, Maharashtra had the highest share with women comprising 28.5 per cent of its investor base, followed by Gujarat at 26.6 per cent. Uttar Pradesh, which has the second biggest investor base, lags behind in female participation in the market, with women making up 18.8 per cent of the total investor base. Notably, Uttar Pradesh’s figure is also significantly lower than the national average of 24.6 per cent.
According to NSE data so far in FY26, investor growth has remained positive. While growth moderated in the month of April, the number of investors has risen with a double-digit sequential growth in the past three consecutive months. The exchange added that the renewed uptick in recent months reflects the resilience of investor sentiment amid geopolitical headwinds such as US President Donald Trump’s imposition of trade tariffs and the India-Pakistan conflict.
“Nonetheless, the renewed uptick in recent months reflects the deepening trust in India’s capital markets and the resilience of investor sentiment amid such external challenges. The expansion of the investor base has accelerated considerably over the years. While it initially took 14 years to reach the first crore of registered investors, subsequent additions occurred at a much faster pace—with the most recent crore added in just over seven months,” NSE said.
