NSE Crosses 20 Cr Client Accounts in October 2024, Marking Rapid Retail Growth Maharashtra has the highest account count at 3.6 crore, followed by Uttar Pradesh with 2.2 crore, and Gujarat with 1.8 crore. Rajasthan and West Bengal each contribute 1.2 crore accounts, collectively representing nearly half of the total client base.
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The National Stock Exchange of India (NSE) recently surpassed a major milestone, with client accounts on the exchange crossing the 20 crore mark in October 2024. This growth marks a substantial rise from 16.9 crore accounts recorded just eight months earlier, underscoring the rapid expansion of retail participation in India's capital markets.
Leading the numbers, Maharashtra has the highest account count at 3.6 crore, followed by Uttar Pradesh with 2.2 crore, and Gujarat with 1.8 crore. Rajasthan and West Bengal each contribute 1.2 crore accounts, collectively representing nearly half of the total client base. The top ten states together account for approximately 75% of NSE's total accounts.
In addition to reaching 20 crore client accounts, the exchange also announced that the unique registered investor base had reached 10.5 crore, having crossed the 10 crore mark in August 2024. This growth reflects a notable increase of around three crore accounts since February 2024, demonstrating strong retail confidence in India's financial markets.
"This milestone highlights the significant investor confidence in India's growth story," commented Sriram Krishnan, Chief Business Development Officer at NSE. "The rise is driven by digital transformation and technological innovation, enabling wider market access, especially for tier 2, 3, and 4 cities."
Krishnan attributed the growth to several factors: the adoption of mobile trading applications, government digital initiatives, simplified KYC processes, and increased financial literacy efforts. This accessibility has encouraged participation across diverse instruments, including equities, ETFs, REITs, InvITs, and bonds, making investment more inclusive.
In a strong financial performance, NSE also reported a 39% year-on-year increase in consolidated net profit to INR 2,567 crore for the quarter ending June 2024, further underscoring the exchange's robust growth trajectory in India's evolving financial ecosystem.
