According to data by theNational Stock Exchange(NSE), the total number of investors from Gujarat stood at 69 lakh in the fiscal year 2023, up 2.8x since fiscal year 2013. The number of investors increased sharply since the Covid pandemic, as 60% of these investors were registered after April 2020. Experts attribute the rising number of investors to greater awareness, lower bank interest rates and improved financial Literacy, besides better gains.
The Investment into equities from Gujarat has increased sharply over the past decade. Ten years ago, Gujarat accounted for 7% (Rs 1,568 crore) in the daily Average turnover of Indian investors. This has grown to 13% at Rs 13,961 crore during the fiscal year 2023,” said a top official of NSE on condition of anonymity. He added, “Gujarat based investors’ investment Growth rate has now surpassed the national average.”
Technology is one of the biggest factors that lured young professionals into opening demat accounts and beginning their investment journey, according to Industry players. A slew of websites and apps which simplify trading coupled with better gains on investments have lured many youngsters.