Ahmedabad has risen to become the second-largest city in India for stock trading in the cash segment, driving Gujarat’s daily turnover to an impressive ₹20,137 crore.
This marks a staggering 3.5-fold increase from ₹4,475 crore in 2021. The surge is fuelled by widespread enthusiasm for stock trading, faster investor registration processes (e-KYC), and the ease of internet and mobile app trading.
In October 2024, Ahmedabad alone achieved an impressive daily turnover of ₹19,408 crore, compared to ₹3,655 crore in October 2021, marking a 4.3-fold increase.
Meanwhile, other prominent cities in Gujarat, such as Rajkot and Vadodara, reported smaller trading volumes. Rajkot recorded ₹612 crore in daily turnover, while Vadodara saw ₹117 crore. Collectively, Gujarat accounts for nearly 20% of the total trade conducted on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), emphasising the state’s growing dominance in the market.
Mumbai, as the financial capital of India, continues to lead in stock market trading due to its large concentration of brokers, investment advisory firms, and mutual fund offices. However, Ahmedabad has climbed to the second spot, propelled by retail investors’ participation.
The Covid-19 lockdown and subsequent economic recovery have driven increased interest in stock market investments. A stable government, robust financial systems, and a variety of new investment opportunities—such as IPOs and the rise of new-age economy companies—have fuelled this growth.