The National Stock Exchange of India (NSE) recorded a new milestone in July 2025, with the total number of unique trading accounts surpassing 23 crore, approximately three months after crossing the 22-crore mark in April. As of 28 July 2025, the number of unique registered investors stood at 11.8 crore.
Since investors may maintain accounts with multiple brokers, individual participants can hold more than one client code.
In terms of regional distribution, Maharashtra continued to lead with nearly 4 crore accounts, representing 17% of the total. It was followed by Uttar Pradesh with 2.5 crore accounts (11%), Gujarat with over 2 crore (9%), and West Bengal and Rajasthan, each with over 1.3 crore accounts (6%). Combined, these five states account for approximately 50% of all investor accounts, while the top ten states contribute nearly 75% of the total.
The exchange has observed a rising proportion of young and first-time investors entering the market. To support this segment, the Securities and Exchange Board of India (SEBI) and NSE have implemented large-scale investor awareness initiatives, focusing on areas such as risk management, fraud prevention, and long-term investment strategies.
Over the past five years, NSE has significantly scaled its outreach efforts. The number of Investor Awareness Programs (IAPs) conducted rose from 3,504 in FY20 to 14,679 in FY25, collectively reaching over 8 lakh participants across all states and union territories.
Additionally, the size of the NSE Investor Protection Fund (IPF) grew by over 22% year-on-year, reaching Rs 2,573 crore as of June 30, 2025.
Sriram Krishnan, chief business development officer, NSE said: "The Exchange has crossed another major threshold, adding a crore investor accounts in just about three months after crossing the 22-crore mark (220 million) in April 2025. This momentum reflects the deepening trust in India’s capital markets and the resilience of investor sentiment amid global economic uncertainty. The expansion has been powered by rapid digitalization and the widespread uptake of mobile-based trading solutions, which have significantly lowered entry barriers for investors, particularly across smaller cities and semi-urban centres. It also highlights the effectiveness of targeted policy and institutional efforts—ranging from streamlined onboarding to financial literacy drives—in fostering broader market inclusion. With more people investing in equities, ETFs, REITs, InvITs, and debt instruments, this milestone also enables a more diversified and accessible investment landscape through technology."