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Mumbai, February 23:
The pace of new investors entering India’s stock market has slowed due to tariff-related shocks and global economic uncertainty, according to a report released by the National Stock Exchange of India.
The report stated that around 17.7 lakh new investors joined the stock market in January 2026. This pushed the total registered investor base on NSE to 12.7 crore investors as of January 2026.
Investor Base Continues to Expand
Despite the recent slowdown, overall investor participation continues to grow steadily. The NSE had crossed the 12-crore investor milestone in September 2025, reflecting sustained interest in equity markets.
Between the financial year 2020 and January 2026, the number of registered investors increased more than four times. The investor base recorded a compound annual growth rate (CAGR) of 27.3 per cent during this period.
Slower Addition of New Investors
The report noted that the latest addition of one crore investors took nearly eight months. Earlier, similar growth milestones were achieved within five to six months.
According to NSE, tariff-related shocks and global market headwinds over the past year have contributed to the moderation in new investor registrations.
However, the addition of 17.7 lakh investors in January still marked a strong 13 per cent month-on-month growth. It also represented the third-highest sequential increase in investor registrations during the financial year 2025-26 after July and December.
Trading Accounts Cross 25 Crore Mark
The NSE report further highlighted that the total number of unique client codes, or trading accounts, crossed 25 crore on February 12, 2026.
The exchange clarified that trading accounts exceed the number of individual investors because many investors maintain accounts with multiple brokerage firms.
Regional Participation Remains Strong
Region-wise data showed that North India leads with 4.6 crore registered investors, followed by Western India with 3.7 crore investors. Southern India accounts for 2.7 crore investors, while Eastern India has more than 1.5 crore investors.
The NSE stated that long-term growth in investor participation continues to be supported by improved access to capital markets and financial literacy initiatives across the country.
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