The state of Maharashtra tops the list with the highest number of registered investors with 1.48 crore. Uttar Pradesh rose to second position, surpassing Gujarat, with 89.47 lakh investors. The state recorded a 33.8% growth in the number of new investors.
The number of investors in the stock market in India has crossed the 8 crore mark, registering a remarkable growth of 22.4% compared to the figure recorded on December 31, 2022, according to data from the Exchange. National Stock Exchange (NSE).
The total number of investors as on December 25, 2023 stood at 8.49 crore as against 6.94 crore as on December 31, 2022. Data shows that the investor base has grown from 7 crore to 8 crore in eight months.
The state of Maharashtra tops the list with the highest number of registered investors with 1.48 crore. Uttar Pradesh rose to second position, surpassing Gujarat, with 89.47 lakh investors. The state recorded a 33.8% growth in the number of new investors.
Gujarat stood at third position with 76.68 lakh registered investors, recording a growth of 17.2 per cent in the number of registered investors. Several other states have seen significant increases in investor participation in the stock market. West Bengal, Karnataka, Tamil Nadu and Rajasthan emerged as the top states, each with an investor base of over 47 lakh registered individuals.
The notable increase in investor participation can be attributed to the recent market recovery, which has led to increased interest in equity investing.
The Indian stock market has seen decent growth in 2023, with both benchmark indices hitting consecutive record highs on the back of strong domestic economic growth and optimism around reduce global interest rates next year.
The frontline Nifty 50 index has gained nearly 20%, while the BSE Sensex has gained over 18% in 2023 so far. The bullish momentum was seen in the broader markets and they significantly outperformed the leading stocks. The Nifty Smallcap 100 index has gained over 54% and the Nifty Midcap 100 has gained over 45% this year.
India’s market capitalization has crossed the $4 trillion mark and India ranks fourth in the world in terms of market capitalization.
At the same time, the market capitalization-to-GDP ratio increased by 10 percentage points to 115 on December 25, 2023, from 105 on December 31, 2022.
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