BSE adds 1 crore investor accounts in just 107 days, crosses 8 crore-mark

In a span of just 107 days, BSE has added 1 crore total investor accounts to its platform, taking the total to over eight crore. Between June 6 and September 21 alone, it has added 1 crore registered investor accounts. The premier bourse’s registered user base had crossed the 7 crore mark on June 6 this year, which was an addition of 2 crore registered investor accounts in little over 12 months, from May 23, 2020. Back then, the number was around the 5 crore mark. In January it had touched the 6 crore mark.

The BSE benchmark Sensex has been on a roll in recent weeks, with the index closing at 59,005 on Tuesday. The sensex had moved from 57,000 to 58,000 between August 31 and September 3 in three sessions.

Commenting on the achievement of crossing the 8 crore registered investor accounts on Tuesday, BSE MD and CEO Ashishkumar Chauhan said “equity investments, whether directly or through mutual funds, are gaining ground over last one-and-a-half years due to variety of reasons globally, and the domestic market is also following this world trend”.

He also advised that investors need to be wary and careful, while entering the market and understand the details the companies, processes and instruments in which they plan to trade or invest.

Recalling the key milestones, the MD and CEO of the oldest exchange in Asia said that in February 2008, the exchange had just 1 crore investor accounts, which increased to 2 crore by July 2011.

It took another three years for the BSE to take it to 3 crore in January 2014, and then surpassed the 4-crore level in August 2018.

Due to the vast majority of trading volume on rival NSE, the BSE did not specify how many of these investor accounts are active or only for mutual fund investments.

World’s sixth largest stock market

India is now the world’s sixth biggest stock market with this landmark achievement, overtaking France for the first time in market capitalisation, with the benchmark Sensex surging more than 23.85% or 11,389.83 points so far this year.

The m-cap of BSE-listed companies soared to $ 3.54 trillion, or Rs 260.78 lakh crore, as of September 16.

Zerodha, Upstoxx, Angel Broking and Sharekhan and institutional players like ICICI  Securities, HDFC Securities and Kotak Securities have also seen a massive spike in their investor accounts.

The most valued markets are US ($ 51 trillion), China ( $ 12 trillion), Japan ( $ 7.5 trillion), Hong Kong ($ 6.5 trillion) and Britain ( $ 3.51 trillion).