National Stock Exchange of India

The National Stock Exchange of India Limited (NSE), is a Mumbai-based stock exchange. It is the largest stock exchange in India in terms of daily turnover and number of trades, for both equities and derivative trading.^[1]. NSE has a market capitalization of around Rs 47,01,923 crore (7 August 2009) and is expected to become the biggest stock exchange in India in terms of market capitalization by 2009 end.^[2]Though a number of other exchanges exist, NSE and theBombay Stock Exchange are the two most significant stock exchanges in India, and between them are responsible for the vast majority of share transactions. The NSE's key index is theS&P CNX Nifty, known as the Nifty, an index of fifty major stocks weighted by market capitalisation.

Origins

The National Stock Exchange of India was promoted by leading Financial institutions at the behest of theGovernment of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market(Equities) segment of the NSE commenced operations in November 1994, while operations in theDerivatives segment commenced in June 2000.