The National Stock Exchange crossed the 13-crore unique registered investor milestone on Monday, just seven months after surpassing 12 crore in September 2025. According to The Economic Times, the total number of client codes (accounts) stood at 25.7 crore as of April 25, 2026, after breaching the 25-crore mark earlier in February. This rapid expansion reflects the continued growth in retail participation across India's capital markets.
As reported by The Economic Times, it took 14 years for the exchange to reach its first crore of registered investors after commencing operations, and another 11 years to add the next three crore. Since then, growth has accelerated sharply, with an additional crore investors being added every 6–8 months on average. Over the past five years (FY21–FY26), the investor base has expanded at a CAGR of 26.4%, significantly outpacing the 15.2% CAGR recorded in the preceding five-year period (FY16–FY21).
According to The Economic Times, over the five-year period ended April 24, 2026, the benchmark Nifty 50 and Nifty 500 delivered annualised returns of 10.8% and 13.3% respectively. During the same period, the market capitalisation of NSE-listed companies grew at a CAGR of 18% to ₹460.6 lakh crore. Individual investors owned 18.6% of the market (NSE listed companies) as of December 31, 2025 directly and indirectly via mutual funds.
As reported by The Economic Times, the expansion has been geographically broad-based, now extending across 99.85% of pin codes in the country. As of March 31, 2026, three states had more than one crore unique registered investors each, with Maharashtra leading the pack with 2 crore, followed by Uttar Pradesh at 1.5 crore and Gujarat at 1.1 crore investors. Investor participation is increasingly spreading beyond traditional hubs, with states outside the top 10 now accounting for 27% of the base.
According to The Economic Times, 7.2 crore new SIP accounts were added in FY26 with monthly inflows rising eight-fold over the past decade, reflecting strong retail discipline. The growth has been driven by wider digital access, improving financial awareness, and sustained efforts by regulators, market infrastructure institutions (MIIs), and the government to enhance inclusivity. NSE's Chief Business Development Officer Sriram Krishnan attributed the growth to rising mobile-based trading, simplified KYC processes and sustained investor awareness efforts.
