The National Stock Exchange of India (NSE) has surpassed 130 million unique registered investors, propelled by a significant uptick in retail participation, with the latest addition of 10 million occurring within a mere seven months since September 2025. As of April 25, 2026, the total number of client codes reached 257 million, achieving the 250-million milestone in February. The expansion of the investor base is particularly notable, growing at a compound annual growth rate (CAGR) of 26.4% during FY21–FY26, compared to 15.2% in the previous five-year timeframe, according to NSE data released on Monday.
During this period, benchmark indices have offered robust five-year annualized returns of 10.8% for the Nifty50 and 13.3% for the Nifty 500. Additionally, the market capitalization of NSE-listed companies has increased at an 18% CAGR, now totaling ₹460.6 trillion. By December 2025, individual investors accounted for 18.6% of the overall market.
The investor demographic is becoming younger and more diverse, with the median age dropping to 33 years from 36 in FY21. Approximately 40% of investors are under the age of 30, and women constitute nearly one in four investors.
Geographically, the reach of the NSE has expanded to cover 99.85% of India’s pincodes. Maharashtra leads with 20 million investors, closely followed by Uttar Pradesh with 15 million and Gujarat with 11 million. States outside the top ten now represent 27% of the investor base, showing significant growth in smaller states such as Arunachal Pradesh (up 7.9 times), Mizoram (up 8.7 times), and Assam (up 6.9 times).
Sriram Krishnan, Chief Business Development Officer of the NSE, stated, “The progress has not been confined to established urban centres and has expanded meaningfully across Tier 2/3/4 cities… all signs of an increasingly resilient and inclusive capital market ecosystem.”
In FY26, a total of 72 million Systematic Investment Plan (SIP) accounts were opened, with average monthly SIP inflows rising dramatically to ₹29,132 crore, up from ₹3,660 crore in FY17. Mobile trading has also made significant strides, now constituting over 20% of cash market turnover.
The NSE has stepped up its efforts in investor education, increasing awareness initiatives five-fold to 17,764 programs in FY26, reaching over 930,000 participants. The Investor Protection Fund has also seen growth, now standing at ₹28.71 billion, a year-on-year increase of 16.8%.
Published on April 27, 2026.
