Stock market investor base crosses 8.5 crore in 2023, UP pips Gujarat to rank second in list
The NSE data shows Maharashtra adding a staggering 14.8 million registered investors in 2023 while Uttar Pradesh added 9.9 new million investors, overtaking Gujarat’’s new addition of 7.7 million.
New Delhi: The stock markets witnessed a whopping 22.4% growth in its investor base in year 2023, on back of strong rally & sturdy growth.
According to official data from National Stock Exchange (NSE), Maharashtra boasted of highest number of investors base while Uttar Pradesh also made lion’s share of contribution. It surpassed Gujarat significantly and ranked second in the list.
The NSE data shows Maharashtra adding a staggering 14.8 million registered investors in 2023 while Uttar Pradesh added 9.9 new million investors, overtaking Gujarat’s new addition of 7.7 million investors base.
The number of new investors from Uttar Pradesh saw a surge of 33.8% while Gujarat logged growth of 17.2%. As per NSE data, the total investor count stood at 8.50 crore on December 25, 2023, as compared to 6.94 crore on December 31, 2022.
The NSE data also shows substantial increase in investors base for other states like West Bengal, Karnataka, Tamil Nadu, and Rajasthan.
The fast growth in number of registered investors in these states came on back of strong market rally lately, thereby evoking people’s interest in equity investments.
Sensex and Nifty50, both benchmark indices saw new highs in 2023, owing to robust macroeconomic data and expectations of rate cuts in coming year.