How Many Stock Exchanges Are There in India?
India currently has two major national stock exchanges recognized by SEBI for equity trading: the NSE (National Stock Exchange) and the BSE (Bombay Stock Exchange). Besides these, India also has commodity exchanges and a specialized international exchange. Historically, India had many regional stock exchanges, but most have been de-recognized over the years.
NSE: National Stock Exchange
NSE was established in 1992 and is headquartered in Mumbai. It introduced fully electronic trading to India and now handles the largest share of equity, derivatives, and currency trading volume in the country. The Nifty 50 is NSE's benchmark index. NSE has over 2,000 listed companies.
BSE: Bombay Stock Exchange
BSE was founded in 1875 and is the oldest stock exchange in Asia. It is also headquartered in Mumbai. BSE has over 5,000 listed companies, making it the exchange with the most listings in India. The Sensex is BSE's benchmark index. BSE also operates the SME platform for small and medium enterprises.
Other Recognized Exchanges in India
- MCX (Multi Commodity Exchange): India's largest commodity exchange for trading gold, silver, crude oil, and base metals
- NCDEX (National Commodity and Derivatives Exchange): Specializes in agricultural commodities like wheat, soybean, and turmeric
- NSE IFSC: Located in GIFT City, Gandhinagar. It enables trading in international stocks and indices. Regulated jointly by SEBI and IFSCA
- India INX: BSE's international exchange in GIFT City
What Happened to Regional Exchanges?
India once had over 20 regional stock exchanges in cities like Calcutta, Madras, Delhi, and Ahmedabad. As electronic trading made geography irrelevant, trading volumes on regional exchanges dried up completely. SEBI de-recognized most of them between 2014 and 2019.
Currency and Debt Markets
Currency derivatives are traded on NSE, BSE, and the Metropolitan Stock Exchange (MSE). Government bonds and corporate debt are primarily traded on NSE's debt segment and the RBI-operated NDS-OM platform.
Key Takeaway
India has two main equity stock exchanges (NSE and BSE) along with commodity exchanges (MCX, NCDEX) and international exchanges in GIFT City. For retail equity investors, NSE and BSE cover all investment needs. Use the Lemonn app to track stocks across NSE and BSE in one place.
