NSE sees record surge in new investors: UP leads the pack

29 Feb 2024 , 11:51 AM

The National Stock Exchange’s (NSE) new investor base reached a record high in January with 23.3 Lakh registrations, up 10% from 21.1 Lakh in December, in part due to the Nifty’s surge to all-time highs.

The number of new investors on the NSE increased by 24% to 8.78 Crore in January from 7.1 Crore the previous year as a result of their arrival. 

With new registrations up 17% month over month to 3.5 Lakh in January, Uttar Pradesh regained its top rank, surpassing Maharashtra’s 13% gain with 3.4 Lakh new investors. 

Gujarat had a dramatic 22% drop in new investor registrations, to 1.8 Lakh, between December and January. West Bengal, Bihar, Karnataka, and Delhi were among the top 10 states with the most new registrations, while Madhya Pradesh, Tamil Nadu, and Rajasthan had decreases. Together, the top five states accounted for 48.8% of all new registrations during the first ten months of FY24.

Few areas continued to account for the majority of new investor registrations; in January, the top 10 districts contributed 20.2% of all new investor registrations, a tiny decrease from 20.9% in December. With 1.5 Lakh registrations, up 17%, Delhi was the league leader, followed by Mumbai with 1.1 Lakh registrations, up 13%. Surat saw a 21% decline in newcomers to 31,200, while Ahmedabad saw a 31% decline to 30,900. Just 85 districts had a decrease in new investor registrations from month to month in January.

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