The National Stock Exchange of India has crossed another landmark with unique trading accounts, or client codes, surpassing 26 crore or 260 million in June 2026. The pace of growth is accelerating, the most recent one crore accounts were added in just under four months, according to NSE.

NSE said in a press release that over 4.3 crore accounts, nearly 17% of the total, have been added in the past year alone, reflecting sustained retail interest despite geopolitical uncertainty and market volatility.

“NSE has significantly expanded its investor education initiatives in recent years,” the exchange said, noting that the number of Investor Awareness Programs rose five-fold from 3,504 in FY20 to 17,902 in FY26, covering more than 9.4 lakh participants in FY26 alone. The exchange’s Investor Protection Fund stood at Rs 2,890 crore as of April 30, 2026. Shri Sriram Krishnan, Chief Business Development Officer, NSE, said: “Crossing the 26-crore investor accounts mark is a significant achievement for the exchange and reflects the continued deepening of investor participation in Indian capital markets. Despite prevailing geopolitical uncertainty, the addition of one crore accounts in just under four months underlines sustained investor confidence and the expanding reach of the market ecosystem.”

The growth is being driven by rapid digitisation and penetration beyond metros. Mobile trading platforms now account for more than a fifth of cash market turnover, while a simplified KYC framework has lowered entry barriers. Maharashtra leads with 4.4 crore accounts, 17% of the total, followed by Uttar Pradesh with ~3 crore, Gujarat with 2.2 crore, and West Bengal and Rajasthan with 1.5 crore each. The top five states account for 49% of accounts, but northeastern states are catching up fast — Mizoram, Sikkim and Meghalaya saw 32.3%, 30% and 29.2% of their five-year additions happen in 2025 itself.

Indirect participation via mutual funds is also surging. 7.2 crore new SIP accounts were opened between April 2025 and March 2026, and average monthly SIP inflows grew eight-fold from Rs 3,660 crore in FY17 to Rs 29,132 crore in FY26. Individual investors now own 18.7% of NSE-listed companies directly and via mutual funds as of March 31, 2026. Over five years to June 4, 2026, Nifty50 and Nifty 500 delivered 7.1% and 9.8% annualised returns, while NSE-listed companies’ market cap grew at 12.6% CAGR to Rs 462.2 lakh crore.

“This growth has been supported by greater adoption of mobile-based trading, a simplified KYC framework and sustained efforts to promote disciplined investing through stakeholder-led investor awareness initiatives.” Krishnan added. He also said that participation is expanding beyond established urban centres into Tier 2, Tier 3 and Tier 4 cities. Investors are also engaging across a wider range of exchange-traded instruments, including equities, ETFs, REITs, InvITs, government bonds and corporate bonds. The recent introduction of Electronic Gold Receipts has further broadened market access.