CityBiz: Mumbai, El Dorado of investorshttps://indianexpress.com/article/cities/mumbai/citybiz-mumbai-el-dorado-of-investors/

CityBiz: Mumbai, El Dorado of investors

For the NSE, after Mumbai, the highest turnover was recorded in Delhi/Ghaziabad which contributed 10.9 per cent and Kolkata/Howrah which accounted for 6.6 per cent of the turnover.

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Significantly, the average number of demat accounts — where investors keep shares in paperless, electronic form — opened per day since November 1996 is 3,590.

Computerisation and connectivity have not impacted Mumbai’s position as the largest investor city in the country. True, investors don’t need to go to the trading ring anymore and they can buy and sell stocks through the trading terminals of India’s two leading stock exchanges — the 141-year old Bombay Stock Exchange and the National Stock Exchange — across the country. However, about 60.5 per cent of the total turnover of the BSE and 58.4 per cent of the total turnover of the NSE is concentrated in Mumbai and Thane.

For the NSE, after Mumbai, the highest turnover was recorded in Delhi/Ghaziabad which contributed 10.9 per cent and Kolkata/Howrah which accounted for 6.6 per cent of the turnover. On the other hand at the BSE, Kolkata and others accounted for 9.6 and 7.2 per cent of the total turnover respectively. The top five cities accounted for 80.2 per cent of the turnover at the NSE during 2014-15 compared to 83.9 per cent in 2013-14. At the BSE, 85.3 per cent of the turnover was contributed by top five cities during 2014-15 compared to 78.2 per cent in 2013-14.

The NSE, which came up in 1994, expanded across the country with its trading terminals, giving access to investors everywhere. It brought about a revolution in stock market activities in the country, but the commercial capital has retained its grip as the largest investor city in the country. National Securities Depository (NSL) demat account holders are present in 89 per cent of all pin codes in the country. Majority of over 8,000 brokers registered with Sebi are in Mumbai.

Significantly, the average number of demat accounts — where investors keep shares in paperless, electronic form — opened per day since November 1996 is 3,590.