The share of retail investors in companies listed on the NSE rose to an all-time high of 7.6% during the quarter ended September from 7.5% a quarter ago, according to a report by Prime Database. At the same time, the share of holding by promoters fell to a four-year low of 41.6%. The report also revealed that the shares of both foreign and domestic institutional shareholders decreased marginally during the quarter, with foreign institutional shareholders holding 18.4% and domestic institutional shareholders holding 16%. Meanwhile, the share of the government as a promoter increased to a five-year high of 8.79% as of September 2023. This trend reflects a long-term decline of the government’s share from 22.5% in 2009, primarily due to divestment programs, lack of new listings of public sector units (PSUs), and underperformance.