Stock Market Boom Attracts Investors: Uttar Pradesh Overtakes Gujarat For Second Position, Bihar Records Highest Surge

The Indian stock markets experienced a remarkable surge in 2023, with the NSE Nifty 50 hitting milestones like 20,000 on 11 September and 21,000 on 8 December.

This surge propelled the number of stock market investors in India to cross the 8-crore milestone, marking a 22.4 per cent growth this year, according to data from the National Stock Exchange (NSE).

As reported by NDTV, Bihar, Uttar Pradesh and Madhya Pradesh stood out with the highest growth rates, fuelled by increasing awareness and the ease of online trading.

Bihar, starting from a relatively lower base, exhibited an extraordinary 36.6 per cent rise in registered investors, showcasing a growing interest in financial markets within the state.

Following closely were Uttar Pradesh and Madhya Pradesh, with growth rates of 33.8 per cent and 28.9 per cent respectively.

Maharashtra, with a 16.9 per cent increase, boasts the largest investor pool in India, exceeding 1.48 crore registered investors as of 25 December.

However, Uttar Pradesh surpassed Gujarat to secure the second position in the list of states with the most investors.

As of 25 December, UP had 89.5 lakh active investors, while Gujarat had 76.5 lakh.

The surge is attributed to the increased penetration of online trading platforms beyond major cities, coupled with the dissemination of financial and business information on social media platforms like YouTube, fostering awareness about stock market investing.