Recent data released by the National Stock Exchange (NSE) indicates a steady rise in retail participation from Odisha, with the state’s unique investor base officially crossing 40.31 lakh. While the state remains a modest player on the national stage, accounting for approximately 2.2% of India’s total investor population, it has maintained a consistent growth trajectory throughout the 2024–2025 fiscal period.
The latest NSE “Market Pulse” report highlights a broader trend where traditional financial hubs like Maharashtra are seeing their percentage share of the national total gradually decline (still maintaining a top position with 2cr investors) as participation spreads across other states. In this shifting landscape, Odisha has emerged as the second-largest contributor in Eastern India, positioned behind West Bengal, which holds a significantly larger base of 72.6 lakh investors.
Nationally, Odisha’s numbers place it in a middle-tier bracket, comparable to states like Kerala and Assam. Despite the rapid ascent of states like Uttar Pradesh—which recently surpassed 1.4 crore investors, Gujarat with 1.1 cr investors—Odisha’s growth remains incremental. The data shows that the 40.3 lakh registered individuals in the state currently hold a combined total of over 1.1 crore client codes, suggesting that active investors in the region frequently utilize multiple brokerage platforms.
