NSE surpasses 12cr unique investors as Indians flock to equities
What's the story
The National Stock Exchange (NSE) has announced a major milestone in its growth story. The exchange's unique registered investor base crossed the 12-crore mark on September 23, marking a significant expansion in India's financial market participation. The exchange surpassed the 11-crore mark in January this year. NSE now has a total of 23.5 crore investor accounts, covering all client registrations to date. Many clients hold accounts with more than one trading member.
Historical perspective
NSE's growth since it began trading 1994
"The registered investor base hit the one crore mark 14 years after NSE started operations, the next one crore additions took about seven years, the subsequent one crore addition took about three-and-half years, and the next one a little over a year," the stock exchange said. "In other words, it took over 25 years for the registered investor base to hit the 4-crore mark in March 2021, with the subsequent one crore investors being added in about 6-7 months."
Growth drivers
Nifty 50, Nifty 500 returns in 2025 so far
The NSE attributed India's rapid rise in investor participation to digitization, increased fintech access, a growing middle class, and supportive policy measures under PM Narendra Modi's government. The stock exchange also noted that the Nifty 50 has returned 7% while the Nifty 500 index has given a 9% return in 2025 so far. Over five years, both indices have given annualized returns of 17.7% and 20.5%, respectively—higher than broader emerging and developed market packs.
Market growth
Household wealth from market capitalization of listed companies
The NSE also highlighted that the market capitalization of its listed companies has grown at an annualized rate of 25.1% during this five-year period, reaching ₹460 lakh crore as of September 23, 2025. This has significantly contributed to household wealth. As of June 30, 2025, individual investors—directly or indirectly through mutual funds—own 18.5% of the market (NSE-listed companies), according to the stock exchange.
Investor profile
Other notable trends in investor participation
The NSE also revealed that one in four investors today are women. The median age of the 12 crore registered investors in India today is about 33 years, down from 38 years five years ago. Nearly 40% of them are less than 30 years old. Indirect participation has also increased with around 2.9 crore new SIP accounts opened between April 2025 and August 2025.