Ahmedabad has solidified its position as a stock trading hub, ranking as the second-largest city in India for cash segment trades. With a daily turnover of ₹19,408 crore in October 2024, up from ₹3,655 crore in October 2021, the city has witnessed a remarkable 4.3-fold increase! Gujarat’s overall daily turnover now stands at ₹20,137 crore, reflecting a 3.5-fold surge since 2021.
Fuelled by widespread retail investor participation, streamlined e-KYC processes, and app-based trading, Ahmedabad accounts for 17.53% of NSE’s total cash trade turnover and 27.31% on the BSE. Together with Mumbai, these two cities dominate 80% of equity delivery trades in India, underscoring their financial influence.
Zerodha CEO Nithin Kamath highlighted this dominance on social media, stating, “The real money is with Gujjus,” acknowledging Gujaratis’ business acumen. Despite representing just 8% of India’s registered investors, Gujarat’s contribution to stock market turnover is unparalleled.
