Ahmedabad Ranks Second Nationwide in Stock Market Trading, with a Daily Turnover of ₹20,000 Crore in Gujarat

Due to significant growth, a faster registration process for new investors (e-KYC), and the ease of internet and mobile app trading, more and more new investors across the country are being attracted to the stock market. The daily turnover in the cash segment of the stock market has increased by 53%. 

However, Maharashtra, which was once a leader in IPO investments, has now been surpassed by Gujarat, which has become number one. In terms of cash trading, Gujarat has now moved to second place nationwide. In October, Gujarat’s daily average turnover reached ₹20,137 crore, compared to ₹4,475 crore in 2021. This marks a 3.5 times increase in turnover in Gujarat.

Vadodara and Rajkot Among Top Trading Centers

Mumbai ranks first in the cities with the highest trading volumes in the cash segment. As the financial capital of the country, Mumbai naturally leads with its large brokers, investment advisors, and mutual fund offices. However, Ahmedabad follows in second place, driven by retail investors. 

In October 2021, Ahmedabad’s daily average turnover was ₹3,655 crore, which has grown by 4.3 times to ₹19,408 crore in October 2024. Despite this growth, Rajkot and Vadodara have seen a decline in turnover. Rajkot has a daily turnover of ₹612 crore, while Vadodara sees ₹117 crore in daily market activity. Together, BSE and NSE trading in Gujarat now account for about 20% of the total market transactions, meaning one out of every five trades takes place from Gujarat.

Post-Lockdown Surge in Stock Market Investment and Trading

Following the lockdown during the pandemic, there has been a growing attraction towards investment and trading in the stock market. 

The country’s stable government, strong financial system, and increasing options for investment in the stock market (such as the listing of new companies and the rise of small and mid-cap companies due to the new-age economy, in addition to large-cap and blue-chip stocks) have contributed to a steady increase in the number of investors.

Impact of Economic Reforms Driving New Investors to the Market in Gujarat

The improvements seen in the country’s economy have led to an influx of new investors in the stock market. In Gujarat alone, the number of investors registered at the end of December 2021 was 1 crore, which has increased to 1.88 crore by December 2024. 

Among the top 10 districts for new investor registrations on the National Stock Exchange, three to four districts from Gujarat are visible during this period. In addition to Ahmedabad and Rajkot, which have long been considered major stock market hubs in the state, cities like Surat, Bhavnagar, and Vadodara are now also witnessing a rise in new investors, as per data from NSE.