Before the word vāṇija 'a trader' the first member of a tat-puruṣa samāsa preserves its accent when it is a word specifying the place wither one has to go or the ware in which one deals.,
Thus मद्र꣡वाणिजः, काश्मी꣡रवाणिजः, गा꣡न्धारिवाणिजः = मद्रादिषु गत्वा व्यवहरन्ति 'the Madra-merchants i. e. who trade by going to Madra &c' All these are Locative compounds. मद्र is derived by रक् affix (Unadi II, 13) and is acutely accented on the last 6.1.165. काश्मीर belongs to Krshodaradi class 6.3.109, and has acute either on the first or the second syllable. The word गान्धारि belongs to the Kardamadi class, and is consequently acute on the first or the second (Phit III. 10) In the sense of पण्य we have: गोवाणिजः 'a dealer in cows', अश्ववाणिजः &c. गौ is finally accented (Unadi II. 67): and अश्व has acute on the first (Unadi I. 151) the affix being क्वन् ॥
Why do we say 'the place whither one goes, or the goods in which one deals?' Observe परमवाणिजः꣡, उत्तमवणिजः꣡ ॥,