Amdavadis have increasingly grown interested in share-trading, resulting in a remarkable surge of Demat accounts and registered investors on the BSE. This has led to unprecedented growth in Ahmedabad’s stock market.
According to reports from the Securities and Exchange Board of India (SEBI), in the fiscal year 2018-19, Ahmedabad’s average daily trade volume on both the BSE and the NSE was Rs. 783 crore. However, in May 2023, this number soared to a staggering Rs. 7,870 crore, nearly a ten fold increase. Ahmedabad’s daily turnover on the BSE witnessed a significant jump- from 2.5% to an impressive 23.9% in May 2023. This surge has positioned Ahmedabad ahead of major cities like Delhi, Bangalore, and Hyderabad, making it the second-largest share-trading hub in the nation.
Furthermore, Ahmedabad’s total cash market turnover has experienced a substantial increase, securing its place as the second-highest in the country, just behind Mumbai.
