The stock market in India has been through a significant transformation in recent years. What has been fuelling this transformation is the surge in retail investors and online trading, with more and more individuals taking an active role on the stock market. From metro cities to small towns, more individuals are leveraging the stock markets as a pathway to wealth creation. It is safe to say that the surge in online trading and investment reflects changing dynamics in the Indian financial landscape. At the core in this landscape is technology, increased financial literacy, and the availability of new investment tools. As a result, the stock market is becoming more accessible to more people than it has ever been before. 

The surge of retail investors
The retail investor base of the Indian stock market has been growing substantially. According to Business India, the registered investor base has nearly tripled between March 2020 and March 2024, resulting in nearly 20% of Indian households engaging in the financial markets. This increasing number is interesting for several reasons: Firstly, it so clearly reflects a growing interest from Indian citizens to invest and trade; but secondly, it also contains a geographical spread, as more people from Tier 2 and Tier 3 cities are participating. This means that towns, which has been disconnected from financial markets before, are now fuelling the growth of the retail investor base. It is especially improved internet infrastructure and fintech innovations which is driving this surge.