Ahmedabad, Surat power Gujarat’s stock market boom in April

Ahmedabad: Gujarat emerged as one of the country’s busiest equity trading hubs in April, recording a sharp 38.6% month-on-month rise in equity cash market turnover by individual investors to Rs 2 lakh crore, according to a report by the National Stock Exchange (NSE). The surge came amid a strong market rebound following heightened volatility triggered by the West Asia conflict in March.The NSE report ranked Gujarat second only to Maharashtra in terms of equity cash turnover by retail investors. Maharashtra recorded Rs 3.3 lakh crore in turnover during April, while Gujarat touched the Rs 2 lakh crore mark. Uttar Pradesh, Karnataka and Delhi completed the top five states, which together accounted for nearly half of the country’s total equity cash turnover during the month.The NSE report also highlighted strong growth in trading activity from Gujarat’s major cities. Ahmedabad emerged as one of the fastest-growing districts in the country, recording a 48.3% jump in turnover to Rs 72,000 crore during April. Surat too posted a substantial 32.1% increase, with turnover reaching Rs 33,000 crore.Nationally, Mumbai Suburban remained the top district with turnover of Rs 1.1 lakh crore, followed by Bengaluru Urban at Rs 74,000 crore. However, Ahmedabad and Surat ranked among the top gainers in terms of growth rate, underlining Gujarat’s rising influence in India’s retail equity market.Market participants attributed the spike in trading activity to renewed investor confidence after global tensions eased and benchmark indices recovered sharply. The BSE Sensex gained nearly 6,000 points during April, encouraging traders and retail investors to re-enter the market after heavy sell-offs in March.Vanesh Panchal, a city-based merchant banker and broker, said the ceasefire announcement after the US-Iran conflict played a crucial role in reviving investor sentiment. “March witnessed aggressive selling pressure due to fears arising from the war situation. However, once markets stabilised and a recovery rally began, traders rushed back into equities. Investors who accumulated quality stocks at lower valuations earned strong double-digit returns in April,” he said.Analysts believe sustained retail participation, improving liquidity and growing interest in equities among young investors continue to drive Gujarat’s expanding footprint in the domestic stock market.