More than 52.3 lakh investor accounts of UP are registered in the stock market and UP ranks at third position in the country
The government said more than 50 lakh investors of UP were trading in Bombay Stock Exchange and UP had become the third force in the country’s stock market.
According to BSE officials, there were a total of 6.9 crore Demat accounts in the country till May 31 out of which, 25 per cent of accounts are from Maharashtra, 85.9 accounts from Gujarat. Gujarat is followed by Uttar Pradesh with 52.3 lakh accounts, Nadu with 42.3 lakh and Karnataka with 42.2 lakh accounts.
Apart from this, there are 39.5 lakh Demat accounts from Bengal, 37.3 lakh from Delhi, 36 lakh from Andhra Pradesh, 34.6 lakh from Rajasthan, 25.7 lakh from Madhya Pradesh, 21.2 lakh from Haryana, 20.7 lakh from Telangana, 19.4 lakh from Kerala, 15.2 lakh from Punjab and 16.5 lakh from Bihar.
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.
This scenario is in stark contrast to the situation four and a half years back when the activity of the people of UP in the stock market was negligible because business activity was abysmal in the state. In the year 2017, Chief Minister Yogi Adityanath made the state sharply oriented towards development. Since then, Uttar Pradesh is now running on the path of rapid development.