NSE's unique trading accounts cross 25 crore mark
What's the story
The National Stock Exchange (NSE) has achieved a major milestone, with the number of unique trading accounts or client codes (UCCs) crossing 25 crore in February 2026. The last one crore accounts were added in just two months, showing a rapid growth in capital market participation. The last five crore accounts, or 20% of the total, were added over the last 16 months alone.
State-wise distribution
Top 5 states account for nearly half of total
Maharashtra leads the pack with 4.2 crore accounts, nearly 17% of the total. Uttar Pradesh follows with 2.8 crore accounts (11.3% share), Gujarat with some 2.2 crore (8.7%), and West Bengal and Rajasthan each have 1.4 crore accounts (5.8% share each). The top five states account for nearly half of all investor accounts while the top 10 contribute over three-fourths to the total count.
Growth drivers
SIPs surge in past year
The NSE credits the rapid growth in investor accounts to digital innovation, low-cost trading platforms, and a growing middle class. The exchange has also seen a rise in indirect participation with nearly six crore new SIP accounts opened between April 2025 and January 2026. The average monthly SIP inflows during this period were ₹28,766 crore as compared to ₹23,743 crore last year.
Market impact
Individual investors' share of market cap
As of December 31, 2025, individual investors—both direct and mutual fund investors—held 18.6% of the market capitalization of NSE-listed companies. This is an increase from 14.6% five years ago. The NSE has also doubled its Investor Awareness Programs (IAPs) to 22,931 in 2025, covering nearly 12 lakh participants. Its Investor Protection Fund (IPF) grew by 18.5% year-on-year to ₹2,791 crore as of December-end last year.