Sensex Tops 60,000: Investors Beyond Top Two States Flock To Stock Market
This is where India is adding new stock investors.
Investors have been flocking to the stock market from beyond the top two states, aiding the record-setting surge that has propelled the benchmark Sensex above 60,000 for the first time.
The number of unique client codes stood at 8.03 crore as on Sept. 24, a 46.79% jump in the last 12 months, according to data available on the BSE website. That means the stock market added 2.56 crore new investors during the period.
More than two-thirds (67.1%) of new investors came from outside of Maharashtra and Gujarat, the two states that dominate stock market trading, the data showed.
Uttar Pradesh emerged as the third-largest state by unique client code. The state added 24.4 lakh investors in the last one year.
The number of investors from Assam surged 221% over the last one year, with nearly 8 lakh being added.
It was followed by Manipur, the union territory of Lakshadweep, and Arunachal Pradesh, where investors doubled during the period.
Bihar, Madhya Pradesh, Telangana, Rajasthan, Tamil Nadu and West Bengal added more than 10 lakh investors in the last one year.
The contribution across regions, however, remained similar in the last two years, according to data on the National Stock Exchange of India. The north and the west saw maximum registrations during the period.
The share of the southern region, however, fell from 28% to 19% in two years through August 2021. The east inched higher with its contribution rising from 9% to 13%.
Apart from Mumbai and Delhi-National Capital Region, the top 10 cities by client addition in August were Pune, Bengaluru, Jaipur, Ahmedabad, Surat, Barpeta in Assam, Hyderabad and Ranga Reddy.
Barpeta, according to the NSE data, has been in the top 10 since March 2021.
The share of east and north in individual investor turnover has also increased in the year through August, the NSE data showed.
It increased to 9.12% in August from 8% a year.
The north saw it rise to 29.2% from 28.6%.
The share of southern India declined to 24.9% from 26.7%.