NSE and the BSE.
The report showed that in last fiscal, "Mumbai/Thane" made up for 61.7 per cent with Rs 16.71 lakh crore turnover on the NSE, while on the BSE, Mumbai accounted for 51.7 per cent at Rs 2.83 lakh crore.
"Delhi/Ghaziabad" came in second on the NSE, whereas on the BSE, the second spot was taken by Ahmedabad.
Kolkata region stood at third place on both the bourses.
"Widening the geographical reach of capital market is one of the important aspect of development of securities markets in India," Sebi said in its report.
In this regard, the regulator observed that online trading facilities, dematerialised securities and electronic IPO application system have helped "catalyse the penetration of equity investment culture into the farthest corners of a diverse nation like India".