Investor alert: BSE now has 12 crore registered investor accounts
What's the story
BSE, one of the two national stock exchanges in India, has reached a milestone. The bourse now has 12 crore investor accounts on its platform.
To reach 12 crore accounts from 11 crores, it took only 148 days. Most of the stock exchange's registered users are above the age of 30.
BSE is India's oldest stock exchange.
Context
Why does this story matter?
Indian traders prefer NSE to BSE for trading. The high volume and subsequent high liquidity make NSE an attractive prospect for those interested in investing in shares.
However, BSE's latest milestone proves that it continues to be relevant. BSE is an attractive option for those who are new to the market, as it has more small- or micro-cap companies.
Milestones
BSE took only 85 days to reach 9 crore accounts
"BSE crossed the milestone of 12 crore registered users based on Unique Client Code (UCC) on December 13, 2022," the exchange said.
It added one crore investor accounts between July and December 13 (148 days). This is more time than it took to reach 11 crore, 10 crore, and nine crore.
The bourse took 124, 91, and 85 days, respectively, to reach those milestones.
Users
Most users belong to the 30-40 age category
Out of 12 crore accounts, 42% belong to the 30-40 age category. It is followed by the 20-30 age category with a 23% representation.
Only 11% of users fall in the 40-50 age bracket. It is not clear how many of these accounts are active.
The exchange also didn't provide any specific details about accounts used only for mutual fund investments.
Information
Maharashtra has the most number of investors
In terms of investors, Maharashtra leads the line with a 20% share. It is followed by Gujarat at 10% and Uttar Pradesh at 9%. The top five are completed by Rajasthan and Tamil Nadu with 6% of investors each.
About
BSE is the fastest stock exchange in the world
BSE (formerly known as the Bombay Stock Exchange) was established in 1875. It was Asia's first stock exchange.
The bourse is now the fastest in the world with a speed of six microseconds. In 2017, it became India's first listed stock exchange.
It provides trading in equity, currencies, derivatives, debt instruments, mutual funds, and stock lending and borrowing.