Guwahati Stock Exchange

Investors exploring equity markets in India’s northeastern states should review historical data on regional exchanges before allocating capital. The Guwahati Stock Exchange (GEX), operational from 1983 to 2016, listed 15–20 companies at its peak, primarily in tea, agriculture, and small-scale manufacturing. Despite achieving a peak daily turnover of ₹6.5 crore in 2006, its limited liquidity and regulatory non-compliance led to closure under SEBI’s consolidation mandates.

GEX’s infrastructure, including a semi-automated trading platform post-2003, failed to attract institutional investors. Only 3% of its transactions involved algorithmic trading prior to de-recognition. For modern exposure, prioritize Bombay Stock Exchange (BSE) or National Stock Exchange (NSE)–combined, they hosted 98% of India’s equity trades in 2023. Satellite brokerages like Zerodha and Upstox enable remote access to these exchanges, even in regions like Assam.

Revival proposals for GEX, floated by Assam’s government in 2022, focus on SME funding but lack SEBI approval. Until reforms materialize, redirect capital to BSE-listed firms rooted in the Northeast–Assam Company India Limited (tea) or Oil India Limited (energy). Analyze EBITDA growth in these sectors: tea plantations averaged 8% YoY revenue increases from 2020–2023, outperforming GEX-era averages by 12 points.

Verify regulatory updates through SEBI circulars before considering regional exchanges. Brokerage firms with Assam-based offices, including Angel One and ICICI Securities, offer localized insights without reliance on defunct platforms. Allocate no more than 3–5% of portfolios to hyperlocal equities until infrastructure gaps close.