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.
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