New Delhi [India], August 11 : Female participation in the Indian stock market has been steadily increasing across states, even as the proportion of young investors has seen a slight decline, according to a report by the National Stock Exchange (NSE).
The report highlighted that as of June 2025, women's participation in equity markets has grown consistently in most states. Among the top five states by total unique investor registrations, Maharashtra leads the list with women accounting for 28.4 per cent of its investor base, up from 25.6 per cent in FY23.
It stated "Female investor participation continues to rise steadily across states...... The share of investors under 30 years of age declined from 40 per cent in March 2024 to 39.5 per cent as of March 2025 and further to 39 per cent in June 2025".
Gujarat ranks second, with female participation rising from 26.6 per cent in FY23 to 27.8 per cent in June 2025.
Uttar Pradesh, which has the second-largest investor base in the country, continues to lag behind in gender representation. As per report, women account for only 18.7 per cent of investors in the state, well below the national average of 24.5 per cent, though this marks a notable improvement from 16.9 per cent in FY23.
Overall, more than half of India's states now have female investor shares above the national average, compared to just 44 per cent in FY23.
The report also pointed out that several smaller regions are emerging as frontrunners in gender inclusion in the markets.
Goa tops the list, followed closely by Mizoram. Chandigarh records 32 per cent female investors, Delhi 30.5 per cent, and Sikkim 30.3 per cent, all significantly higher than the national average.
While female participation is on the rise, the NSE data also revealed a decline in the share of young investors.
The proportion of investors under the age of 30 fell from 40 per cent in March 2024 to 39 per cent by June 2025. This trend is largely due to a drop in the share of new investors in this age group.
The report data pointed out that while gender diversity in the Indian stock market is improving, but there is also a slowdown in the entry of younger participants.
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