NSE investor accounts hits new high in April 2025, digital push and mobile trading lead the surge

India’s equity markets hit a new high in April 2025, as the National Stock Exchange (NSE) crossed 22 crore investor accounts — a jump of 2 crore within just six months since hitting the 20-crore mark in October 2024. The surge in Unique Client Codes (UCCs) reflects a deepening retail footprint, as millions continue to join the investing wave.

Meanwhile, the number of unique registered investors climbed to 11.3 crore as of March 31, underscoring growing financial inclusion across the country. Each investor may have multiple accounts with different brokers, contributing to the higher UCC count.

Maharashtra leads the charge with 3.8 crore investor accounts, followed by Uttar Pradesh (2.4 crore), Gujarat (1.9 crore), and Rajasthan and West Bengal at around 1.3 crore each. Collectively, these five states make up nearly 49% of all accounts. The top 10 states contribute about 75% of the total investor base.

Backing this retail momentum, the Nifty 50 has delivered a 22% annualised return over the last five years, while the broader Nifty 500 has returned 25% annually, reinforcing investor faith through substantial wealth creation.

NSE’s Investor Protection Fund (IPF) also saw a boost — growing by over 23% year-on-year to ₹2,459 crore as of March 31, 2025.

Shri Sriram Krishnan, Chief Business Development Officer, NSE, said, “India’s investor base continues to expand rapidly, with over 2 crore new accounts added in just six months — a clear reflection of strong investor confidence in India's growth trajectory despite global economic headwinds. 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.”

He added, “The growth also highlights the success of focused initiatives to deepen retail participation, including widespread financial literacy programs and streamlined KYC processes. As participation broadens across a range of instruments — equities, ETFs, REITs, InvITs and bonds — this milestone signals a maturing financial ecosystem where technology is playing a pivotal role in democratising investment opportunities.”