Ahmedabad has become a buzzing hub for retail equity trading as the number of individual investors in Gujarat skyrocketed in the past ten years. A recent report from the National Stock Exchange (NSE) reveals that equity turnover among these investors grew nearly sixfold, while the count of active investors surged eightfold.
Surat district leads India with staggering growth rates, both in active investors and their trading turnover. Meanwhile, Ahmedabad ranks second for active participants and third for overall turnover.
Back in FY16, there were about 6.1 lakh active individual investors in Gujarat. Fast forward to FY26, that figure soared to 46.1 lakh—an increase fueled by greater accessibility to stock markets via digital platforms. An active investor is defined as anyone who’s made at least one trade within the year.
The equity turnover jumped from Rs 3.5 lakh crore to Rs 18.5 lakh crore during this same time period, showcasing a tremendous spike in retail trading activity across the state.
A consistently impressive player, Ahmedabad now stands as one of India’s largest retail trading centers. The city recorded an equity turnover of Rs 6.1 lakh crore in FY26—up from just Rs 1.3 lakh crore back in FY16.
Experts attribute this surge to a shift away from traditional investment avenues towards stocks and shares. “Traditional investment options have lost their charm,” noted Vanesh Panchal, director of a local stock broking company. “We’re seeing participation expand beyond just business families; salaried professionals and new market entrants are getting involved.”
Surat’s growth is particularly noteworthy; its equity turnover crossed Rs 3.3 lakh crore with an astonishing compound annual growth rate of 23.5%. The NSE report indicates that five other districts also saw at least five times growth over the decade.