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Business News/ Markets / Stock Markets/  Uttar Pradesh investor base surpasses Gujarat to rank second with 89.47 lakh stock market investors
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Uttar Pradesh investor base surpasses Gujarat to rank second with 89.47 lakh stock market investors

The state of Maharashtra tops the list of highest number of registered investors at 1.48 crore. Uttar Pradesh has ascended to the second position, surpassing Gujarat, with 89.47 lakh investors. The state recorded a growth of 33.8% in new investors.

Gujarat was in the third position with 76.68 lakh registered investors, recording a growth of 17.2% in the number of registered investors. (Photo: ANI)Premium
Gujarat was in the third position with 76.68 lakh registered investors, recording a growth of 17.2% in the number of registered investors. (Photo: ANI)

The number of stock market investors in India has surged past the 8 crore milestone, registering a remarkable growth of 22.4% from the figure recorded on December 31, 2022, as per data from the National Stock Exchange (NSE). 

The total investor count as of December 25, 2023, stood at 8.49 crore from 6.94 crore on December 31, 2022. Investor base increased from 7 crore to 8 crore in eight months, as per the data.

The state of Maharashtra tops the list of highest number of registered investors at 1.48 crore. Uttar Pradesh has ascended to the second position, surpassing Gujarat, with 89.47 lakh investors. The state recorded a growth of 33.8% in new investors.

Also Read: Stock market in 2023: Here are 10 key milestones achieved by Indian stock market this year

Gujarat was in the third position with 76.68 lakh registered investors, recording a growth of 17.2% in the number of registered investors.

Several other states saw a substantial rise in investor participation in the stock market. West Bengal, Karnataka, Tamil Nadu, and Rajasthan emerge as the leading states, each with an investor base of more than 47 lakh registered individuals. 

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This notable increase in investor participation can be attributed to the recent market rally, drawing heightened interest towards equity investments.

The Indian stock market has seen a decent growth in 2023 with both the benchmark indices hitting consecutive record highs on the back of robust domestic economic growth and optimism surrounding cut in global interest rates in the upcoming year.

Also Read: Markets in 2024: Key things investors need to keep in mind before investing next year

The frontline index Nifty 50 has risen nearly 20%, while BSE Sensex surged more than 18% in 2023 so far. The bullish momentum was seen in broader markets as well as they outperformed the frontliners by a heavy margin. The Nifty Smallcap 100 index surged over 54% and the Nifty Midcap 100 jumped over 45% this year.

India’s market capitalisation crossed the $4 trillion mark and India is ranked fourth in the world in terms of market capitalisation.

Meanwhile, the market cap to GDP ratio increased by 10 percentage points to 115 as of December 25, 2023, from 105 on December 31, 2022.

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Published: 29 Dec 2023, 11:16 AM IST
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