Ahmedabad: Gujarati acumen for making moolah off the stock market is much acclaimed. It emerges that Gujarat has the highest percentage of active traders among registered investors with 22.57% investors trading at least once, according to the National Stock Exchange (NSE) data for the month of June, 2024.
This impressive figure surpasses the share of active investors in all major states including Delhi (18.41%), Maharashtra (17.98%), West Bengal (17.86%), and Haryana (17.41%).
Gujarat boasts a robust ecosystem for stock market investments, encompassing professionals, entrepreneurs, and govt officials alike. The state accounts for 8.8% of the country’s total registered investors, compared to Maharashtra’s 16.9% and Uttar Pradesh‘s 11%.
Gunjan Choksi, director of a stockbroking firm, said, “Gujaratis are naturally inclined towards stock market investments. Gujaratis not only invest but also trade actively, monitoring the markets daily, which keeps their engagement higher than in other states. Technology also plays a crucial role in sustaining this activity.”
It needs mention that Gujarat ranks third in terms of total registered investors, with 85.50 lakh individuals, it secures the second position in both total turnover and total number of active investor count.
The top 10 states have seen a significant rise in individual turnover, which surged by 18.9% month-on-month (MoM) to Rs 15 lakh crore. Maharashtra, Gujarat, and Uttar Pradesh maintained their lead with turnovers of Rs 4.1 lakh crore, Rs 2.3 lakh crore, and Rs 1.5 lakh crore respectively. Notably, Uttar Pradesh overtook Delhi in March 2024 and has held onto its position since.
Active investor count in the top 10 states surged by 13.1% month-on-month, reaching 1.2 crore in June. Maharashtra spearheaded this growth, with active investors rising by 15.1% to 29.5 lakh. Gujarat followed closely, with 19.3 lakh investors (+5.8% MoM) trading at least once during the month. Uttar Pradesh (+14.9% MoM), West Bengal (15.1% MoM), and Rajasthan (12.4% MoM) also witnessed significant increases, with active investor counts reaching 15.7 lakh, 10 lakh, and 9.5 lakh, respectively.
In June, Gujarat recorded an impressive stock market turnover of Rs 2.30 lakh crore, securing the second position nationwide. Despite having the third-highest number of registered individual investors at 85.50 lakh, Gujarat demonstrated its prowess by maintaining the second rank in both total turnover and active investor participation, with 19.50 lakh Gujaratis trading at least once during the month.
We also published the following articles recently
The National Stock Exchange (NSE) reported that its unique registered investor base surpassed the 10 crore mark as of August 8, 2024. The investor base tripled over the past five years due to digitisation, increased investor awareness, financial inclusion, and market stability. This latest growth sees a shift towards younger investors and a notable presence of female participants.
Foreign portfolio investors continued net buying in July, investing Rs 32,365 crore, following Rs 26,565 crore in June. This activity, combined with domestic investors, drove Sensex and Nifty to new highs. Analysts suggest future FPI trends will depend on the US economy, domestic reforms, and valuation levels in Indian markets.
The Mundhwa police booked a businessman and six others for defrauding 262 investors, including ex-servicemen, of Rs26.41 crore in a share trading fraud between 2020 and 2024. The fraud was discovered when the businessman stopped paying returns and abandoned his office and residence. The case has been transferred to the economic offences wing for further investigation.
