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NSE Listing Pushes BSE Turnover to 27-Month High
The National Stock Exchange, or NSE, was recently listed on the stock market.
Many people traded NSE shares after they began trading.
This helped increase trading activity on the Bombay Stock Exchange, or BSE.
BSE’s daily turnover reached ₹11,055 crore on Thursday.
This was its highest level in 27 months and its third-highest level ever.
NSE shares rose 1.9% on their first trading day.
The NSE was valued at about ₹4.5 lakh crore after the debut.
Macquarie said it expects NSE to perform well because of its market share, technology, and trading activity.
BSE’s average daily cash turnover for September exceeded ₹11,000 crore, its highest level in 27 months.
BSE turnover reached ₹11,055 crore on Thursday, the exchange’s third-highest level on record.
Trading in newly listed NSE shares, rather than block deals, primarily drove Thursday’s increase.
NSE shares rose 1.9% on debut to close at ₹1,818, valuing the exchange at about ₹4.5 lakh crore.
Macquarie and at least three other brokerages initiated coverage, with Macquarie assigning NSE an “Outperform” rating.
- Who
- The National Stock Exchange and the Bombay Stock Exchange were central to the activity; Macquarie Group Ltd. and other brokerages also issued views.
- What
- BSE turnover rose sharply after NSE shares began trading publicly.
- Where
- The activity occurred on India’s stock exchanges, including the BSE and NSE.
- When
- The increase was reported on Thursday, during September, with four trading days remaining in the month.
- Why
- Trading in newly listed NSE shares primarily drove the increase, unlike earlier surges that were mainly caused by block deals.
Key facts
- BSE Thursday turnover
- ₹11,055 crore
- September average daily turnover
- More than ₹11,000 crore
- NSE Thursday turnover
- ₹9,483 crore
- Total BSE cash turnover
- ₹20,672 crore
- NSE debut performance
- Shares rose 1.9% and closed at ₹1,818
- NSE valuation
- Approximately ₹4.5 lakh crore
- Macquarie rating
- Outperform
Quotes
Macquarie Group Ltd.
Brokerage that initiated coverage of NSE after its listing
“NSE’s valuation premium to global exchanges is supported by higher growth and returns, with the exchange trading at about 30x FY29 estimated earnings versus 18x for international peers.”
CNBC TV 18
Sources
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