- Thursday, January 09, 2025
The Zerodha CEO said on X, formerly Twitter, “Ahmedabad and Mumbai account for 80 per cent of equity delivery trades. Let that sink in. Essentially, the real money is with Gujjus.”
By: India Weekly
BROKING firm Zerodha co-Founder and Chief Executive Officer Nithin Kamath has said Mumbai and Ahmedabad account for nearly 80 per cent of equity delivery trades, and a good number of investors hail from the Gujarati community.
In a social media post platform X, formerly known as Twitter, he said, “Ahmedabad and Mumbai account for 80 per cent of equity delivery trades. Let that sink in. Essentially, the real money is with Gujjus.”
Kamath also pointed out that this is despite that fact that Gujarat accounts for just 8 per cent of the total registered investors, and the share has been falling.
Sharing data based on city-wise distribution of cash trades in India stock markets in Novemeber, Kamath said that Mumbai accounted for 64.28 per cent of the total cash trade turnover on the National Stock Exchange (NSE).
Cash trades involve buying or selling of stocks using cash on hand rather than borrowed capital. Investors, here, take delivery through their demat accounts.
In the Bombay Stock Exchange (BSE), Mumbai accounted for 27.02 per cent of total cash trade turnover.
Ahmedabad figured second, accounting for 17.53 per cent of the total cash trade turnover on NSE and 27.31 per cent on the BSE.
According to the data provided by the NSE, the exchange had 107 million registered investors at the end of November, 2024, Business Standard reports.
Maharashtra accounted for 16.5 per cent (17.7 million) investors, followed by Uttar Pradesh (12.1 million investors), Gujarat (9.5 million), West Bengal (6.2 million), and Rajasthan (6.1 million).
