From UP To Maharashtra: Which Indian States Added The Most Stock Market Investors This Year?

After starting the year 2023 at a level of about 61000, the Sensex went on to reach new all-time highs multiple times this year, breaching the 72000 mark this month. Even Nifty50, which began in 2023 at around 18000, is now hovering around the 21700 mark. Both Sensex and Nifty have jumped more than 18% this year, which has attracted more and more people to invest in the Indian stock market from different states.

How Many People Started Investing This Year?

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The Indian stock market has added around 15.69 million (1.569 crore) investors so far this year. Growing enthusiasm in smallcaps and midcaps and a spate of public issues lured new investors, contributing to a spike of 26.85 million demat account additions in 2023, totaling 13.51 crore. Mutual funds recorded a significant surge, with mutual fund SIP registrations more than doubling since 2020, soaring to 2.08 crore from 0.81 crore after COVID-19, as per the Moneycontrol report.

The surge in investors, especially in regions with lower penetration, is credited to rising awareness, digital ease in investing, and increased risk appetite.

Which States Added The Most Investors In 2023?

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Uttar Pradesh-2.31 million

Maharashtra-2.18 million

Gujarat-1.13 million

Karnataka-0.74 million

Tamil Nadu-0.82 million

West Bengal-0.97 million

Rajasthan-0.99 million

Andhra Pradesh-0.42 million

Delhi-0.62 million

Madhya Pradesh-0.9 million

Bihar-0.88 million

Haryana-0.58 million

Others-2.72 million

The Indian stock market has added around 1.569 crore investors so far this year, with Uttar Pradesh leading the pack with 2.31 million, outgrowing Maharashtra.

Maharashtra, however, retains the largest investor base at 14.9 million, while Uttar Pradesh and Gujarat come next with 8.9 million and 7.7 million investors, respectively. Karnataka, Tamil Nadu, West Bengal, and Rajasthan have around 4.7 million investors each.

Analysts said the market has attracted investors with an 18 percent rise in the Sensex and Nifty 50. The market, on par with global giants like the US and Japan, is gaining recognition. With over 1.3 billion people and a growing middle class, India offers an appealing market for companies aiming to expand.

Also Read: How The Stock Market Crash Of 1929 Led To World War II

What NSE CEO Has To Say About The Numbers?

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In a recent CNBC interview, NSE (National Stock Exchange) chief executive and managing director Ashish Chauhan highlighted India's market growth, noting that it's the fifth-largest globally with a market cap of around $4.2 trillion, trailing the US, China, Japan, and Hong Kong.

He also talked of an intriguing shift as Uttar Pradesh outgrows Gujarat in the number of investors. Chauhan observed that the demographics of investors from UP align with the average Indian proportion in the stock markets, indicating evolving market dynamics.

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