UP A Big Force In The Stock Market, More Than 52.3 Lakh Investor Accounts Registered
Lucknow, Nov 2 (TNA) Now more than 50 lakh investors of UP are trading in Bombay Stock Exchange and Uttar Pradesh has become the third force in the country's stock market, just behind states like Gujarat and Maharashtra.
UP's 52.3 lakh investor accounts are registered in the stock market. During the last two years a large number of investors belonging to UP have joined the Bombay Stock Exchange (BSE). According to BSE officials, there were a total of 69 million demat accounts in the country till May 31. Out of which 25 percent accounts are from Maharashtra while 85.9 accounts are from Gujarat.
Gujarat is followed by Uttar Pradesh at 52.3 lakh, Tamil Nadu at 42.3 lakh and Karnataka at 42.2 lakh. Apart from this, 39.5 lakhs from Bengal, 37.3 lakhs from Delhi, 36 lakhs from Andhra Pradesh, 34.6 lakhs from Rajasthan, 25.7 lakhs from Madhya Pradesh, 21.2 lakhs from Haryana, 20.7 lakhs from Telangana, 19.4 lakhs from Kerala, 15.2 lakhs from Punjab and Bihar which has 16.5 lakh demat accounts.
As per SEBI guidelines, demat accounts that are not used for more than one year are considered inactive. At present, the demat accounts of investors active in the stock market from UP have not been closed and new investor accounts from UP are being registered in the stock market continuously.
According to BSE officials, brokerage companies and stock exchanges have opened 12 to 15 lakh new demat accounts every month during the last 18 months. Of these, forty per cent demat accounts were opened by BSE-affiliated brokerage companies.
The BSE has added about 40 per cent of the investor accounts in the last 17 months in total to all the members. The increase in investor accounts shows that automation and mobile trading have enabled investments in stocks and mutual funds to reach every part of the country.