Mumbai, Dec. 22 -- Maharashtra continued to lead the country in terms of registered stock market investors as of November 2025, but it saw a gradual decline in share of the national investor pool, which fell from 19.5 per cent in calendar year 2020 to 15.9 per cent as of November 2025, highlighted a report by National Stock Exchange of India (NSE).

Whereas, Uttar Pradesh retained its position as the second-largest contributor with strong growth momentum, the state's share in the national investor pool has gone up over the years, from 7.7 per cent in 2020 to 11.6 per cent by November 2025.

According to the report, Maharashtra remained the top state with a registered investor base of 2.0 crore as of November 2025.

It stated "As of Nov'25...