Quick answer: No one can predict where the Indian share market will go, but online investing has grown hugely since this article was first written in 2017. CDSL alone held over 19.3 crore investor accounts by 30 September 2026. The Nifty 50 took about six years to double from 10,000 (July 2017) to 20,000 (September 2023). The long-term arguments for India’s market, such as a young population, rising consumption and infrastructure spending, still exist. They are reasons for optimism, not guarantees, and prices can fall sharply along the way.
Where the market stood when this article was written
This article was first written in 2017, shortly after the Nifty crossed the 10,000 mark for the first time on 25 July 2017. The market had rallied for several quarters, helped by government reforms, a good monsoon and positive global sentiment. Investors across large-cap, mid-cap and small-cap stocks had done well, and the market was then entering a correction.
Two big policy shocks were still fresh: demonetisation in November 2016 and the launch of the Goods and Services Tax (GST) in July 2017. The original article argued that the market was already recovering from the effect of demonetisation, and that the reforms would support growth over the long term despite short-term disruption. It compared the mood to the 2003–2007 bull run, when investors of every type, from individuals to domestic and foreign institutions, built wealth.
Did the 2017 predictions come true?
The original article said equities could grow about three times in five years. That did not happen on that timeline. Here are the Nifty 50 milestones since then:
| Nifty 50 milestone | Date first reached |
|---|---|
| 10,000 | 25 July 2017 |
| 20,000 | 11 September 2023 |
| 25,000 | 1 August 2024 |
| 26,000 | 24 September 2024 |
Investors who stayed invested were rewarded, but more slowly than the 2017 forecast suggested, and the journey was not smooth. On 23 March 2020, as the COVID-19 pandemic spread, the Nifty fell 12.98% in a single day. Anyone who had borrowed to invest, or who needed the money that month, would have suffered real losses. Forecasts of market levels are educated guesses at best.
How online investing has changed since 2017
The biggest change is not the index level but who takes part and how:
- Far more investors. CDSL, the larger of India’s two depositories, reported 19,34,06,915 investor accounts (excluding closed accounts) as of 30 September 2026. NSDL holds several crore more.
- Investing from a phone. Accounts are opened online with Aadhaar-based eKYC and eSign in minutes, and trades are placed through apps. Our guide on how to open an Upstox demat account shows the process.
- Lower brokerage. Flat-fee discount brokers now charge as little as ₹20 per executed order for many trades. Statutory charges and taxes still apply.
- Easier access to IPOs and mutual funds. Retail investors can apply for IPOs and buy direct mutual funds without going through an agent.
Easier access has a downside: speculation is easier too. SEBI’s study of the equity futures and options (F&O) segment found that 93% of individual traders lost money between 2021-22 and 2023-24. Their aggregate losses exceeded ₹1.8 lakh crore over the three years. A later SEBI study, published in August 2026, found that 87.7% of individual traders still made net losses in 2025-26. If you are curious about derivatives, understand the basics first; our explainer on when to use vanilla options covers the essentials and the risks.
The long-term case for India’s share market
The original article set out several structural reasons for optimism. They are still the arguments most often made for Indian equities:
- Demographics. India has a large working-age population and a big share of young people. That can mean higher productivity, a greater appetite for risk and growing consumption. The 2017 version quoted population figures that have since changed, so we have not repeated them here.
- Consumption. A large rural population, a fast-growing middle class and young consumers create a big domestic market for companies to sell to.
- Infrastructure. India’s infrastructure still lags developed economies, which leaves room for investment in highways, ports, waterways, railways, urban transit and housing.
- Skilled workforce. An educated, English-speaking workforce helped Indian and multinational IT and services companies build a strong global position.
- Diverse industries. Pharmaceuticals, automobiles and auto components, textiles, leather and engineering give the economy several engines of growth.
These factors support the idea that the economy can keep growing on both domestic consumption and global demand. They do not tell you what any stock or index will do next year. Valuations, interest rates, global events and company results all move prices in the short term.
How to approach the market as an individual investor
- Invest with a long horizon. Money you may need within a few years generally should not be in equities.
- Diversify. Spread investments across companies and sectors, or use diversified funds.
- Use SEBI-registered intermediaries. Avoid “tips” on social media and messaging apps, and anyone promising guaranteed returns.
- Do your own research. Learn how companies are valued and how technical analysis is used, and treat any single method with caution.
For live index levels and market news, broker pages such as this share market online update page, or the NSE and BSE websites, are the places to check.
This article is general information, not investment advice. Share prices can go down as well as up, and past performance does not guarantee future returns.
Frequently asked questions
Will the Indian share market keep rising?
No one can say for certain. India’s long-term growth drivers are widely cited, but markets go through corrections and crashes, such as the single-day fall of almost 13% on 23 March 2020.
How many people invest in the Indian stock market?
CDSL alone reported more than 19.3 crore investor accounts on 30 September 2026. One person can hold more than one demat account, so the number of individual investors is lower than the number of accounts.
Is online trading safe?
Trading through a SEBI-registered broker is regulated, and your shares are held in your own demat account. Market risk remains. Derivatives trading is especially risky: most individual F&O traders lose money, according to SEBI’s studies.
Is it too late to start investing?
For long-term investors, the time spent invested and diversification usually matter more than picking the perfect entry point. Decide based on your own goals and risk tolerance, ideally with advice from a SEBI-registered investment adviser.
Index milestones, account numbers and SEBI findings were checked in October 2026 against published Nifty 50 milestone records, CDSL’s published statistics and SEBI’s September 2024 and August 2026 studies of the equity derivatives segment.
