Mumbai, June 7th 2021: BSE, India’s leading exchange and the world’s fastest Exchange has crossed the milestone of 7 crore registered users based on Unique Client Code (UCC) on June 7, 2021. BSE also reported that the journey from 6 crore to 7 crore users took just 139 days, as compared to 241, 652 and 939 days needed for the previous milestones of 6 crore, 5 crore and 4 crore, respectively.
Of the 7 crore users, 38% fall in the 30-40 age bracket, followed by 24% in 20-30 and 13% in the 40-50 age bracket. The growth has been fuelled by tech savvy young users, with an age profile of 20-40, who contributed 82 lakh of the 1 crore user additions from 6 crore to 7 crore. Besides, the market capitalization of BSE-listed companies recorded a new high cruising at over Rs. 227 lakh crore ($3.12 trillion) post touching $3 trillion mark on 25th May 2021.
Shri. Ashishkumar Chauhan, MD and CEO of BSE said, “This milestone is a testament to BSE efforts to bring more investors especially from the retail side on the exchange platform. BSE remains confident that to leverage its increasing reach and capacity for delivery of a wider range of financial products including mutual funds, insurance and so on.”
Maharashtra and Gujarat are the two states that lead in terms of investors with share of 21.5% and 12.3% of the total 7 crore investors, followed by Uttar Pradesh at 7.5% and Karnataka and Tamil Nadu at 6.1% each. In terms of absolute numbers, Maharashtra added 19.44 lakh registered investors with a growth of 15% and Gujarat 7.35 lakh investors with a growth of 9%.
BSE has always strived hard to promote investment behaviour by spreading awareness and onboarding new investors in all areas. Among states, the fastest growth rates from 6 crore to 7 crores registered investor accounts have recorded by Assam (82%), Seven Sister states (30%) and Jammu Kashmir & Ladakh (24%). Among the larger states, Uttar Pradesh has seen the fastest growth by onboarding 9.57 lakh investors with a growth rate of 22%, followed by Rajasthan (6.64 lakh investors/growth of 24%) and Madhya Pradesh (5.84 lakh investors / growth of 29%).
Over the last few years BSE has been working with members for e-enabling customers with a less-paper ecosystem and on-boarding through an easy and hassle-free digital process. To take advantage of the covid induced stock market crash in March 2020, followed by a gradual recovery later on, thousands of retail investors have embraced equities for the first time during the Covid-19 pandemic in India, as seen from the rapid growth of registered investors since April 2020.Follow Punekar News: