'...Real money is with Gujjus': Zerodha's Nithin Kamath Shares Analysis Of Stock Market Data; CRED's Kunal Shah Responds

Ahmedabad and Mumbai account for 80% of equity delivery trades, shared Nitin Kamath in his stock market analysis.

New Delhi: Zerodha co-founder and CEO Nithin Kamath has tweeted regarding his analysis of stock market data, that showed Mumbai and Ahmedabad account for 80 percent of the equity delivery trade.

Kamath tweeted, "Ahmedabad and Mumbai account for 80% of equity delivery trades. Let that sink in. Essentially, the real money is with Gujjus. Btw, Gujarat accounts for just 8% of the total registered investors, and the share has been falling."

Ahmedabad and Mumbai account for 80% of equity delivery trades. Let that sink in. Essentially, the real money is with Gujjus _

Btw, Gujarat accounts for just 8% of the total registered investors, and the share has been falling. pic.twitter.com/yljNeW8xfN — Nithin Kamath (@Nithin0dha) January 6, 2025

A lot of reactions poured in on X (formerly Twitter) on Kamath's post. Co-founder of Freecharge and the founder of CRED Kunal Shah promptly responded saying "Risk hai to Ishq hai."

Risk hai to Ishq hai.

— Kunal Shah (@kunalb11) January 6, 2025

Kamath shared a comprehensive table on city-wise distribution of turnover on cash segments of BSE and NSE, pointing that Mumbai contributed 64.28 percent to the equity trade deliveries while Ahmedabad contributed 17.53 percent in November 2024, followed by Bengaluru at 3.97 percent for the same period.