5x Surge in Retail Investors’ Holdings: Individual Ownership in NSE-Listed Firms Touches ₹84 Lakh Crore Since Pandemic

Backed by steady mutual fund contributions and direct stock purchases, Indian individual investors have expanded their holdings in NSE-listed companies to ₹84 lakh crore by September 2025, marking a 5x surge since March 2020. 

₹84 Lakh Crore Held by Individuals in NSE-Listed Firms Post-Pandemic 

As per the NSE Pulse Report, individual investors held ₹84 lakh crore in equity investments across NSE-listed companies in September 2025, including both direct and indirect channels. This represents over 5x increase from March 2020 levels.  

Of the total, 51% was invested directly, while the remaining was through mutual funds. The data highlights a 34.8% annualised growth from March 2020 and 21% over the past 10 years. 

Rise in Mutual Fund Participation and Equity AUM 

According to AMFI, as of September 2025, 84% of mutual fund equity AUM was held by individual investors, compared to 76% in March 2020. Individuals now hold an 18.75% share in Indian equities, the highest in 22 years.  

Mutual fund AUM touched ₹80 lakh crore in 2025, with average AUM reaching ₹82 lakh crore in December 2025, which reflected a 20% increase over 2024’s 27.3% growth. 

SIP Contributions Hit Record High 

Systematic Investment Plans (SIPs) continued to drive retail equity participation. SIP contributions stood at an average of ₹27,915 crore per month throughout 2025.  

In December, the value reached a record ₹31,002 crore, reflecting 5.3% month-on-month and 17.2% year-on-year growth. Total SIP inflows during the year crossed ₹3 lakh crore, with SIP assets now comprising ₹16.6 lakh crore or 20.7% of total mutual fund AUM. 

Read More: NSE IPO: SEBI Gives In-Principle Approval to Exchange to Float IPO! 

Decline in Cash Market Retail Participation 

While long-term investments rose, retail participation in the cash equity market declined to 33.6% in 2025 from previous levels, as investors diverted capital towards mutual funds and primary issues.  

Proprietary traders accounted for 29.7% of market turnover in 2025. Total retail traders engaging in at least one cash market trade dropped to 3.51 crore in 2025 from 3.81 crore in 2024. 

Equity Inflows by DIIs Amid Falling Debt Fund Interest 

Domestic Institutional Investors (DIIs) remained net buyers since August 2023, recording net investments of ₹79,600 crore in December 2025. Mutual funds alone contributed ₹5 lakh crore in net equity inflows, mainly via SIPs.  

In contrast, debt funds saw ₹5.9 lakh crore net outflows in 2025 due to liquidity withdrawals and changes in rate dynamics, up from ₹3.7 lakh crore outflows in 2024. 

Conclusion 

Indian individual investors significantly increased their presence in NSE-listed stocks since the pandemic, supported by mutual fund and SIP participation. AUM growth and consistent equity inflows reflect a long-term commitment towards equity investments despite market volatility. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.