In a significant development, Uttar Pradesh has outpaced Gujarat to secure the second position in the list of states with the highest number of stock market investors. As of the latest data from the National Stock Exchange (NSE), Uttar Pradesh boasts an investor base of 89.47 lakh, marking a notable growth of 33.8% in new investors.
Maharashtra maintains its lead with the highest number of registered investors, standing at 1.48 crore. Meanwhile, Gujarat has slipped to the third position with 76.68 lakh registered investors, recording a growth of 17.2% in their numbers.
The total count of stock market investors in India has crossed the 8 crore milestone, showcasing a remarkable growth of 22.4% from the figure recorded on December 31, 2022. As of December 25, 2023, the total investor count stands at 8.49 crore, compared to 6.94 crore at the end of last year.
This surge in investor participation is attributed to the recent market rally, which has sparked increased interest in equity investments. States such as West Bengal, Karnataka, Tamil Nadu, and Rajasthan have also witnessed a substantial rise in investor engagement.
The Indian stock market has experienced positive momentum in 2023, with both Nifty 50 and BSE Sensex reaching consecutive record highs. The bullish trend is fueled by robust domestic economic growth and optimism surrounding global interest rate cuts in the coming year.
While the Nifty 50 has witnessed a nearly 20% rise, BSE Sensex surged over 18% in 2023. The broader markets, represented by the Nifty Smallcap 100 index and Nifty Midcap 100 index, have outperformed the frontliners, surging over 54% and 45%, respectively.
India’s market capitalization has crossed the $4 trillion mark, securing the fourth position globally. Additionally, the market cap to GDP ratio has increased by 10 percentage points, reaching 115 as of December 25, 2023, compared to 105 on December 31, 2022.
