Over 4.2 Million New Investors Enter Indian Stock Market in November
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Mumbai, Dec 26 (NationPress) A historic 42,76,207 investors entered the Indian stock market in November, as revealed by the National Stock Exchange (NSE) data on Thursday.
During the July-September quarter of this year, a total of 1,60,06,447 (over 1.6 crore) individuals joined the stock market, coinciding with the record-breaking performance of India’s equity markets.
The benchmark indices, Nifty and Sensex, achieved unprecedented highs of 26,277.35 and 85,978.25, respectively, this year.
The stock exchange also reported that as of December 23 this year, the overall count of registered investors reached 21,02,25,329 (over 21.02 crore).
Among various states, Maharashtra leads with the highest number of accounts at over 3.7 crore, followed by Uttar Pradesh (2.28 crore), Gujarat (1.87 crore), and both Rajasthan and West Bengal at over 1.2 crore each, as per the NSE data.
In October, the total number of client accounts at the exchange exceeded 20 crore for the first time, a significant increase from 16.9 crore eight months prior. The unique registered investor base (identified by a unique PAN number) was recorded at 10.5 crore in October.
A recent report by SBI Research indicates that the country has been witnessing the opening of at least 30 million new demat accounts annually since 2021, with nearly one in four being women investors, highlighting the growing trend of utilizing the capital market for financial savings.
The report also noted that as a result, the total demat accounts in the country have surpassed 150 million (including 92 million unique investors on NSE) in FY24, compared to just 22 million in FY14.
This year, the number of new demat accounts is projected to exceed the 40 million threshold, according to Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser at SBI.
Furthermore, the report highlighted that the increasing share of mutual funds in financial savings has made them the most favorable instrument for the financialization of savings. The number of new SIPs has surged fourfold since FY18 to reach 4.8 crore, leading to a total SIP contribution of approximately Rs 2 lakh crore.
