NSE's client base crosses 20 crore mark, Maharashtra leads
The National Stock Exchange (NSE) has seen massive growth in its client base, crossing the 20 crore mark. The achievement comes as an addition of over three crore accounts in just eight months since February, when the count was close to 17 crore. The unique registered investor base currently stands at 10.5 crore, having crossed the 10-crore mark on August 8, 2024.
5 states accounted for nearly 50% of client base
Among Indian states, Maharashtra tops the chart with 3.6 crore NSE accounts. It is followed by Uttar Pradesh (2.2 crore), Gujarat (1.8 crore), and Rajasthan and West Bengal, which contributed 1.2 crore accounts each. These states alone account for nearly half of all client accounts on NSE, while the top 10 states account for about 75% of the total client base.
NSE's growth driven by digital initiatives and investor awareness
Sriram Krishnan, Chief Business Development Officer at NSE, credited the growth to the popularity of mobile trading apps and growing investor awareness. He noted that these have democratized access to the markets, particularly helping investors from tier 2, 3, and 4 cities. Krishnan also noted that this growth is indicative of strong investor confidence in India's growth story, fueled by digital transformation and technological innovation.
Financial performance and contributions to exchequer
In August, NSE reported 39% year-on-year growth in consolidated net profit to ₹2,567 crore for the three months ended June 2024. The exchange also posted a 51% YoY jump in consolidated revenue from operations to ₹4,510 crore in the April-June quarter of FY25. For Q1 FY25, the exchange has contributed ₹14,003 crore to the exchequer. This includes STT/CTT (Commodities Transaction Tax) of ₹12,054 crore, stamp duty (₹1,018 crore), GST (₹362 crore), SEBI charges (₹333 crore), and income tax (₹236 crore).
