Uttar Pradesh surpasses Gujarat in new investor registrations

In the realm of registered investors, Uttar Pradesh has overtaken Gujarat, marking a significant stride in India's investment landscape. Ashish Chauhan, Managing Director and CEO of the National Stock Exchange (NSE), shared this information during the 10th SBI Banking and Economics Conclave on CNBC TV18. Simultaneously, India's equity market has been consistently reaching record highs.

Commenting on the evolving equity market, Ashish Chauhan remarked, "Now, in terms of market capitalization, we are the fourth-largest market globally, following the United States, China, and Japan, with an approximate market cap of around $4.5 trillion. Alongside this, in terms of the number of investors, Uttar Pradesh has now surpassed Gujarat."

According to data released by the National Stock Exchange (NSE), Maharashtra holds the highest number of investors in India, with over 148 million registered investors as of December 25. The state has witnessed a 16.9% increase in the number of investors over the past year. Following Maharashtra, Uttar Pradesh and Gujarat secure their positions. Uttar Pradesh added 2.3 million new investors in the year 2023.

In the case of registering the highest number of new investors this year, Bihar maintained its lead, experiencing a 36.6% increase in registered investors. Subsequently, Chhattisgarh (35%), Uttar Pradesh (33.8%), and Madhya Pradesh (28.9%) followed suit.

There has been a significant surge in the number of new investors in the northeastern states as well. Mizoram recorded a 54.9% increase, Nagaland saw a 54% rise, and Tripura experienced a 41.3% surge in new investor registrations.

What's driving the surge in investor numbers?

As per statistics until December 25, there are over 849 million registered investors in the country, marking a 22.4% increase from the previous year. This surge can be attributed to the wider accessibility of online trading platforms outside metropolitan areas. The proliferation of finance and business-related information on social media platforms like YouTube and Instagram has fostered awareness and interest in investment within the stock market.

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