The National Stock Exchange of India has crossed a major milestone, with total unique trading accounts or client codes surpassing 25 crore in February 2026.
The exchange said the most recent one crore accounts were added in just two months, reflecting an accelerated pace of market participation. The last five crore accounts, representing 20% of the total, were added over the past 16 months.
As of 31 January 2026, the number of unique registered investors stood at 12.7 crore, after crossing the 12-crore mark in September 2025. Since investors can hold accounts with multiple brokers, the number of trading accounts exceeds the count of unique investors.
State-wise, Maharashtra leads with 4.2 crore accounts, accounting for nearly 17% of the total. Uttar Pradesh follows with 2.8 crore accounts (11.3%), Gujarat with about 2.2 crore (8.7%), while West Bengal and Rajasthan have 1.4 crore accounts each, representing 5.8% share apiece. The top five states together account for nearly 49% of all investor accounts, and the top 10 contribute over 73%.
The exchange attributed the growth to rapid digitisation, fintech-led access, low-cost trading platforms and rising investor participation. Over the five years ending 11 February 2026, the Nifty 50 and Nifty 500 delivered annualised returns of 11.3% and 13.7%, respectively.
Indirect participation has also strengthened. Between April 2025 and January 2026, nearly 6 crore new systematic investment plan accounts were opened. Average monthly SIP inflows during the period rose to Rs 28,766 crore from Rs 23,743 crore a year earlier.
As of 31 December 2025, individual investors, including those investing through mutual funds, held 18.6% of the market capitalisation of NSE-listed companies, compared with 14.6% five years ago.
The exchange also said it conducted 22,931 investor awareness programmes in 2025, reaching nearly 12 lakh participants. Its Investor Protection Fund stood at Rs 2,791 crore as of 31 December 2025, up 18.5% year-on-year.
Sriram Krishnan, chief business development officer at the National Stock Exchange of India, said crossing 25 crore trading accounts marks a significant milestone for India’s capital markets. He noted that the rapid growth reflects rising household confidence and wider acceptance of equities as a long-term investment avenue.
He added that participation is expanding across regions and demographics, supported by access to diverse asset classes. As markets grow, he emphasized the need to strengthen investor awareness, promote disciplined investing, and maintain robust safeguards to ensure sustainable and inclusive wealth creation.