Introduction: National Stock Exchange of India
There exist many stock exchanges in India. However, only two among them are well known in the international business circles - the National Stock Exchange of India and the Bombay Stock Exchange. The National Stock Exchange of India (NSE) is located in Mumbai. In fact, it is one of the largest stock exchanges present in India (and the third largest stock exchange in the world). Roughly, 1,806 companies are already listed in this exchange. Do not be fooled by the small number; according to the latest estimations, the market capitalization of the NSE stands at INR 47,01,923 crore.
The market capitalization of some of the top 50 companies in India decides the index of the NSE sensex. This exchange has unique attributes - such as the absence of a single owner (it is co-owned by a group of companies). This will actually enable the board members to manage the operations of the stock exchange in a more efficient manner without considering the stakes of the owners! The increasing number of share transactions in NSE has helped in gaining the attention of foreign investors such as the NYSE Euronext and the Goldman Sachs.
India is an emerging super-power and the dramatic growth pattern of this exchange enables it to get the meritorious title of second fastest growing stock exchange in the world. The exchange plays a considerable role in the uplift of Indian economy. As of today, there are 24 stock exchanges in India. The NSE had set certain benchmarks in the industry and this enabled the others to follow suit. The NSE was India's first stock exchange to feature electronic limit order book for share transactions. Under the guidance of the NSE, the National Securities Clearing Corporation came into existence in India.
The National Securities Depository Limited - a leading financial entity that takes care of the funds and securities deposited by some of the major corporations in India was set up thanks to the efforts imparted by the NSE. The earlier mentioned Nifty index, which is still the key index to all the stock exchanges operating within India, was established by the same stock exchange. With the advent of the internet, the traders began to display a keen interest on online trading. Without any significant delays, a fully-fledged electronic network was put to use by the NSE live. The same electronic platform is being utilized by hordes of stockholders and brokers to conduct their stock market transactions even on this day.
The NSE deals with equity, futures and options, debt market in the retail and wholesale sector and in currency futures. The trading hours commence from 09:00 and end by 15:30 IST. There are talks to increase the trade timings to 17:30. In order to increase the levels of interest in the mind of the commoner, the NSE administers several kinds of exams and online certifications (certification in financial markets). The underlying principle is to generate additional share transactions and thus increase the liquidity and volatile nature of the market.
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