Indian Stock Market: Maharashtra-Gujarat's dominance in the stock market is decreasing! Uttar Pradesh leaves Maharashtra behind in terms of adding new investors

Indian Stock Market: Thanks to the huge investment of domestic and foreign investors, the Indian Stock Market is on the rise. Sensex and Nifty are trading at historical high levels. The credit for the boom in the Indian market goes to the domestic retail investors. It has always been believed that the citizens of Maharashtra and Gujarat invest the most in the stock market. But a shocking figure has come to light regarding this. Uttar Pradesh has left Gujarat behind in terms of the number of registered investors investing in the stock market. Not only this, most of the new investors are also coming into the market from Uttar Pradesh.  

According to NSE data, there were a total of 83.5 million registered investors by the end of November 2023, out of which the highest number of investors come from Maharashtra, whose number is 14.6 million (1.46 crore). After this comes the turn of Uttar Pradesh from where a total of 8.7 million (87.35 lakh) investors are registered. Gujarat is at third place with 7.5 million (75 lakh). Karnataka is at fourth place with the number of 4.7 million (47 lakh) and West Bengal is also at fifth place with 4.7 million. 

According to NSE data, in 2009-10, the share of registered investors from Uttar Pradesh among the total investors registered in the country was 6.1 percent, which has increased to 10.5 percent in November 2023. The share of registered investors from Maharashtra has come down from 19.7 percent to 17.5 percent during the same period. Whereas Gujarat's share has come down from 13 percent to 9 percent. Of the total registered stock market investors in the country, 48.3 percent come from the top 5 states.  

According to NSE data, Uttar Pradesh is at the forefront in terms of registration of new investors. 10.7 million new registered investors in 2023-24. The number of investors from Uttar Pradesh is 1.6 million, which is 36.6 percent more than last year. In the current financial year, 14.8 percent of the total newly registered investors come from Uttar Pradesh. Maharashtra is behind Uttar Pradesh in this matter. Maharashtra is at second place with the number of new registered investors at 1.4 million. Gujarat is at third place with 7.45 lakh and Rajasthan is at fourth place with 6.78 lakh.     

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