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Maharashtra back as No.1 state adding investors, beats UP

Mint Mumbai

|

February 10, 2024

After nine months, has Maharashtra reclaimed the top slot in new investor registrations from Uttar Pradesh (UP).

- Ram Sahgal

The state saw 300,000 new investors getting unique client codes (UCC) in December, ahead of UP's 290,000 UCCs, according to NSE's latest data.

UCCs are unique client identification numbers given by stock brokers to investors, which are mapped to their demat accounts. Analysts said more migrants to Maharashtra entering the capital markets, and a high base in UP may have combined to help the western state reclaim the top slot.

Gujarat saw the third highest addition of new investors at 230,000, Rajasthan 140,000 and West Bengal 120,000. The five states alone contributed 52% of new investor registrations across 25 top states.

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