<ul><li>Zerodha CEO Nithin Kamath raised concerns about the perceived rise of investors from Tier 2 and Tier 3 cities versus actual trading activity.</li><li>Kamath mentioned that while KYC records indicate more investors from smaller cities, the majority of trading activity is still concentrated in the top 20 cities.</li><li>He explained that discrepancies arise because users often do not update their addresses despite moving to different cities.</li><li>Kamath cautioned against misinterpreting data that suggests a significant surge in stock market participation from non-metro areas.</li></ul>

'This data may be a little misleading': Nithin Kamath on rise of tier 2 and 3 city investors

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