Ahmedabad: With the sharing market that surged withdrawing more and more investors, the number of stock investors from Gujarat in BSE (Bombay Stock Exchange) was set to cross a crore-mark.
Indian Premier Exchange has seen the count of registered users (based on a unique client code) from Gujarat Jump to 99 lakh on November 21, which is the second highest registered account at BSE after Maharashtra, shows data compiled by the exchange.
Going with the addition of around 2.42 lakh new users over the previous month, the calculation of registered investors with BSE will soon reach a crore.
These investors cover all types of investors, both individuals or institutions or those who invest through mutual funds.
“We, as a nation, are currently observing significant growth in the number of equity investors throughout the country.
With Gujarat alone contributing from 1.69 registered investor accounts of a total of 8.69 crores in BSE, it is further evidence of our efforts In promoting behavior and investment initiatives that include lower customers with ecosystems and on-boarding through easy and hassle-free digital processes, “said Ashishkumar Chauuhan, MD and CEO, BSE.
The equity market rally after the initial disaster following a pandemic outbreak had lured many individuals to jump on participating in equity investment.
With a 31% growth, Gujarat has so far added 23.58 Lakh investor accounts in the previous year, BSE data further revealed.
Gujarat currently has a share of 11% of the total investor account in BSE.
“When people reduce expenses that are not essential while they mostly remain indoors in the middle of a pandemic, they have time and surplus of money.
Gold returns, real estate and deposits remain less than stock.
With advances in technology making it easier to trade stocks , increasing the number of people began to invest in stocks, “said Vaibhav Shah, Managing Director of Monarch Networth Capital, a Ahmedabad based financial services company.
“When India moves closer to the economy of $ 5 trillion, it is very important, now more than ever, that we focus on investor education and awareness to encourage more about the culture of equity investment throughout the country,” Chauhan advice.