Mumbai (Maharashtra) [India], April 13 : With the Indian stock market at an all-time high, the recent data from the National Stock Exchange (NSE) reveals that states like Bihar, Uttar Pradesh, and Madhya Pradesh have outnumbered the states like Gujarat and Maharashtra in adding new investors.
Traditionally the NSE was dominated by investors from Gujarat, Maharashtra but the recent statistics from the NSE indicate a remarkable shift.
The NSE data reveals that since October last year over 42 per cent of new investors are hailing from Bihar, Uttar Pradesh, Madhya Pradesh, and other North Indian states.
The data further highlights that over 3.1 crore investors from Bihar, Madhya Pradesh, Uttar Pradesh, and other Northern states have been added to the NSE since October last year. While during the same time, Maharashtra, Gujarat and other western states added only 2.8 crore investors.
Notably, Bihar, Uttar Pradesh and Madhya Pradesh have witnessed exponential growth in their investor base since fiscal year 2020.
According to the NSE data, in North India Bihar, Uttar Pradesh, and Madhya Pradesh are the leading states to add new investors to the NSE. The number of new investors from the state of Bihar has increased around 5.6 times since 2020, while Madhya Pradesh has seen a 4.4-fold surge, and Uttar Pradesh is witnessing a 4.2-fold rise.
This is the first time in the NSE history that marked a shift as the investors from Bihar and Uttar Pradesh have outnumbered the Maharashtra and Gujarat in adding new investors to the NSE.
According to the NSE, positive trends in the Indian stock market and rapid digitization in the past 8 years have supported the increase in investors. This trend has led to the entry of investors from newer regions of India. Furthermore, the number of new investors from the northeastern states has demonstrated even more remarkable growth rates.
The report further highlights that the number of investors in the NSE has seen a continuous rise since the pandemic. The number of investors in the NSE has tripled in the last five years.
Analysts predict that this trend is likely to continue as financial literacy spreads and technological advancements make investing more accessible to the masses. With the rise of new investor hubs across India, the stock market is witnessing a significant shift.
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