New Delhi: Female participation in the Indian stock market is witnessing a steady rise across states, according to the latest report by the National Stock Exchange (NSE). The report, released for the period ending June 2025, highlights significant strides in gender representation in equity markets, even as the share of young investors shows a marginal decline.
Among the top five states with the highest number of unique investor registrations, Maharashtra continues to lead. The proportion of women investors in the state rose to 28.4%, up from 25.6% in FY23. Gujarat follows closely, with female participation increasing from 26.6% to 27.8% over the same period.
Uttar Pradesh, despite having the second-largest investor base in the country, remains below the national average in gender diversity. Women constitute just 18.7% of the investor base, an improvement from 16.9% in FY23, but still significantly lower than the national average of 24.5%.
The report also notes that more than half of India‘s states now have a female investor share above the national average, compared to just 44% in FY23, reflecting broader progress in financial inclusion for women.
Smaller regions are emerging as leaders in gender representation. Goa ranks highest in terms of female investor share, followed by Mizoram. Other top performers include Chandigarh (32%), Delhi (30.5%), and Sikkim (30.3%), all exceeding the national average.
While gender diversity is on the rise, the NSE report also flags a slight decline in youth participation. The share of investors under the age of 30 dropped from 40% in March 2024 to 39.5% in March 2025, and further to 39% by June 2025. This decline is attributed to a reduction in the number of new young investors entering the market.
In summary, the report underscores a positive trend in gender inclusivity in India’s equity markets, while also drawing attention to a slowing pace of youth engagement in stock market investing.
