The National Stock Exchange of India (NSE) crossed 130 million unique registered investors, adding 10 million new investors in just seven months after reaching the 120 million mark in September 2025, it said in a press release on April 27.
The milestone signals continued expansion in retail participation in Indian equities, aided by better digital access, higher financial awareness and growing adoption of market-linked investment products.
Growth In Investor Base Accelerates Over The Years
NSE said its unique registered investor base crossed the 130 million mark on April 27, 2026. Total client codes, or trading accounts, stood at 257 million as of April 25, after crossing 250 million in February this year.
It took the exchange 14 years to reach its first 10 million investors and another 11 years to add the next 30 million. Since then, every additional 10 million investors has been added in around six to eight months on average.
Between FY21 and FY26, NSE’s investor base grew at a CAGR of 26.40 per cent, significantly higher than the 15.20 per cent growth recorded during FY16 to FY21.
Strong Participation Despite Global Uncertainty
The recent growth has come even as global markets grapple with uncertainty due to the ongoing US-Iran war and other conflicts in the recent years. Sriram Krishnan, chief business development officer, NSE, said the latest milestone reflects the resilience of Indian investors.
“Crossing the 13-crore registered investors mark is a significant milestone we have achieved this year. Despite the prevalent geopolitical uncertainty, adding one crore investors in roughly seven months reflects the underlying strength of investor participation in Indian capital markets,” he said.
What Is Powering Investor Additions
Mobile-based trading platforms, simpler Know Your Customer (KYC) processes, and sustained investor awareness programmes have supported this growth, said NSE.
"This growth has been supported by developments on several fronts: increased participation through the mobile-based trading channel, a simplified Know Your Customer (KYC) process and sustained financial literacy efforts through stakeholder-led investor awareness programmes," explained the chief business development officer.
New Investors Are Younger And More Diverse
One of the key trends in recent years has been the rising participation of young investors and women in financial markets.
According to the exchange’s press release, the median age of its 130 million registered investors has fallen to about 33 years from 36 years in FY21. Nearly 40 per cent of investors are below the age of 30, showing that younger and first-time investors are entering the market in larger numbers.
The exchange also said nearly one in four investors is female today.
Expansion Beyond Top Cities
Investor participation is no longer limited to traditional financial centres. NSE said its registered investor base now extends across 99.85 per cent of India’s pin codes.
Maharashtra had the highest number of unique registered investors at 20 million as of March 31, 2026. Uttar Pradesh followed with 15 million investors, while Gujarat had 11 million investors.
NSE also said states outside the top 10 now account for 27 per cent of the total investor base.
Among smaller states, the strongest growth since FY21 came from the North-East. Mizoram recorded an 8.7-fold rise in investors, followed by Arunachal Pradesh with 7.9-fold growth and Assam with 6.9-fold growth.
Krishnan said investor participation has expanded meaningfully across Tier 2, Tier 3 and Tier 4 cities.
Wealth Creation Rises As SIP Inflows Surge
For the five-year period ended April 24, 2026, the benchmark Nifty 50 delivered annualised returns of 10.80 per cent, while the Nifty 500 yielded 13.30 per cent returns.
The market capitalisation of NSE-listed companies rose at an 18 per cent compounded annual growth rate (CAGR) to Rs 460.6 lakh crore during the period. Individual investors now own 18.60 per cent of NSE-listed companies directly and indirectly through mutual funds, as of December 31, 2025.
Indirect participation through mutual funds also remained strong. Around 7.2 crore new Systematic Investment Plan (SIP) accounts were opened in FY26, while average monthly SIP inflows rose to Rs 29,132 crore from Rs 3,660 crore in FY17.
