India's Top States in Equity Market Investors: Maharashtra Leads, UP Surges

As of May 2024, Maharashtra emerged as the state with the highest number of registered investors, totaling over 1.61 crore, constituting 17% of India's investor population.
India's Top States in Equity Market Investors: Maharashtra Leads, UP Surges
India's Top States in Equity Market Investors: Maharashtra Leads, UP Surges

The Indian equity markets are witnessing an unprecedented surge in investor participation, fueled by a prolonged bull run and robust liquidity. As of May 2024, Maharashtra emerged as the state with the highest number of registered investors, totaling over 1.61 crore, constituting 17% of India's investor population.

Uttar Pradesh secured the second position with approximately 1.04 crore investors, making up 10.9% of the national total. Gujarat followed closely in third place, accounting for 8.9% of the investor base with 84.11 lakh investors.

West Bengal and Rajasthan shared the fourth spot, each representing 5.7% of India's investors. West Bengal recorded 54.41 lakh investors, while Rajasthan had 53.83 lakh, placing them just behind Gujarat.

Karnataka, Tamil Nadu, Madhya Pradesh, Andhra Pradesh, and Delhi rounded out the top ten states. They accounted for substantial shares: Karnataka (5.6%), Tamil Nadu (5.5%), Madhya Pradesh (4.8%), Andhra Pradesh (4.6%), and Delhi (4.5%).

Bihar secured the 11th spot, boasting 40.45 lakh investors and capturing 4.3% of the national total. Haryana completed the top 12 with 32.55 lakh investors, contributing 3.4% to India's investor landscape.

Changing Dynamics: While Maharashtra and Gujarat have historically dominated, their shares have slightly decreased over the years. Maharashtra, for instance, saw its share decline from 19.7% in FY10 to 17% in FY24. In contrast, Uttar Pradesh and Bihar have seen significant increases in investor participation, reflecting broader economic trends and growing investor awareness.

Ladakh's Milestone: Highlighting a unique development, Ladakh, known for its scenic beauty, registered its first 1,000 investors in May '24, marking a new chapter in the region's financial inclusion.

National Overview: The total number of equity investors in India as of May 2024 stands at an impressive 94,997,000, underscoring the increasing appeal of equity investments among Indian households.

The rankings and insights provided by the National Stock Exchange (NSE) offer a comprehensive view of the evolving landscape of equity market participation across India's diverse states.

India's Top States in Equity Market Investors: Maharashtra Leads, UP Surges
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