Uttar Pradesh became the second state to cross 1 crore registered investors in the equity markets, as it continued to lead with the highest-ever monthly registrations.
The month of April saw an addition of 2.2 lakh investors in the state, bringing the total to 1.01 crore, thus becoming the second state to cross the eight-digit mark after Maharashtra, according to NSE's Market Pulse report.
UP's share in the Indian investor base has grown consistently, up fourfold since the pandemic, at nearly 11% of the country.
The two states together now make for 28% of the total investor base of the country.
Despite crossing the milestone, investor registrations have slowed, as compared with March, when 2.4 lakh new investors were added.
New investor registrations have slowed each successive month since hitting the peak in January, when they rose 23.3 lakh.
Maharashtra takes the second place in new investor additions of 1.9 lakh during the same month, down 9% against March of the previous fiscal.
The state's share has fallen from nearly a fifth of the whole country, to 17%, despite the growing number of investors.
Gujarat has the third-largest investor base at 82.9 lakh, and added 94,000 investors during the month, down from 1.1 lakh added in March.
West Bengal—with 53.1 lakh investors—came in fourth while contributing to the share of total investors, though it took third place in new investor additions of 1.09 lakh.
Including Rajasthan in the tally—nearly on par with West Bengal at 52.7 lakh investors—the top five states accounted for nearly half the total investor base for the country at 48.3%.
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