National Stock Exchange of India#NSE co-location case

File:NSE Bull Image 1.jpg

National Stock Exchange was incorporated in 1992{{Cite web|url=https://www.nseindia.com/national-stock-exchange/history-milestones|title=NSE Incorporation}} to bring about transparency in the Indian equity markets. NSE was set up at the behest of the Government of India, based on the recommendations laid out by the Pherwani committee in 1991{{cite news |title=Pherwani Committee report recommends setting up of NSE in New Bombay |url=https://www.indiatoday.in/magazine/economy/story/19910930-pherwani-committee-report-recommends-setting-up-of-nse-in-new-bombay-814863-1991-09-29 |access-date=28 February 2023 |work=India Today |language=en}} and the blueprint was prepared by a team of five members (Ravi Narain, Raghavan Puthran, K Kumar, Chitra Ramkrishna and Ashishkumar Chauhan) along with R H Patil and SS Nadkarni who were deputed by IDBI in 1992.{{cite news |title=RH Patil: The man who revolutionized Indian stock market |url=https://economictimes.indiatimes.com/markets/stocks/news/rh-patil-the-man-who-revolutionized-indian-stock-market/articleshow/53336864.cms |access-date=28 February 2023 |work=The Economic Times}} Instead of trading memberships being confined to a group of brokers, NSE ensured that anyone who was qualified, experienced, and met the minimum financial requirements was allowed to trade.{{Cite news|url=http://www.thehindu.com/business/markets/National-Stock-Exchange-to-file-IPO-document-by-2017/article14404957.ece|title=National Stock Exchange to file IPO document by 2017|author=|work=The Hindu|access-date=2017-02-26|language=en}}

NSE commenced operations on 30 June 1994{{Cite web|url=https://www.nseindia.com/products/content/debt/wdm/ndm.htm|title=NSE - National Stock Exchange of India Ltd.|website=www.nseindia.com}} starting with the wholesale debt market (WDM) segment and equities segment on 3 November 1994. It was the first exchange in India to introduce an electronic trading facility.{{cite news |title=NSE vs BSE: Where's the competition? |url=https://www.livemint.com/market/stock-market-news/despite-its-travails-the-nse-towers-over-bse-11658849390923.html |access-date=28 February 2023 |work=mint |date=26 July 2022 |language=en}} Within one year of the start of its operations, the daily turnover on NSE exceeded that of the BSE.{{cite news |title=NSE and NSDL: Institutions that revolutionised Indian bourses |url=https://indianexpress.com/article/explained/manmohan-singh-indian-economy-indian-rupee-devaluation-nse-nsdl-stock-exchange-bombay-stock-exchange-2924639/ |access-date=28 February 2023 |work=The Indian Express |date=20 July 2016 |language=en}}

Operations in the derivatives segment commenced on 12 June 2000.{{cite news |title=India@75: History of stocks in India |url=https://www.livemint.com/news/india/india75-history-of-stocks-in-india-11660492412764.html |access-date=28 February 2023 |work=Mint |date=15 August 2022 |language=en}} In August 2008, NSE introduced currency derivatives.{{cite news |last1=Roy |first1=Anup |last2=Laskar |first2=Anirudh |last3=Mohan |first3=Vyas |title=NSE to charge trades in currency derivatives |url=https://www.livemint.com/Home-Page/TSlohUtvuNKds9Ciz6cpYJ/NSE-to-charge-trades-in-currency-derivatives.html |access-date=28 February 2023 |work=mint |date=12 August 2011 |language=en}}

In 2012, NSE launched the NSE EMERGE platform for the listing of small and medium-sized enterprises (SME) and startup companies in India.{{cite web|url=https://www.businesstoday.in/markets/company-stock/nse-sme-exchange/story/188197.html|title=NSE launches SME exchange with first listing- Business News|website=businesstoday.in|date=18 September 2012 |access-date=2019-10-07}}{{Cite news|url=https://economictimes.indiatimes.com/small-biz/money/raising-capital-sme-ipo-may-be-a-good-choice-for-small-businesses/articleshow/64231764.cms|title=Raising capital: Why SME IPO may be a good choice for small businesses|date=2019-06-10|work=The Economic Times|access-date=2019-10-07}}

In May 2013, NSE launched India's first dedicated trading platform for debt-related products.{{Cite web|date=2013-05-13|title=NSE launches debt trading platform|url=https://www.thehindubusinessline.com/markets/stock-markets/nse-launches-debt-trading-platform/article64092313.ece|access-date=2023-09-08|website=The Hindu Businessline|language=en}}

In June 2017, NSE established the NSE International Exchange (NSE IX), which is a universal multi assets exchange headquarterd in the GIFT City. NSE IX is the second international stock exchange of India, after the India International Exchange (India INX), which is also headquarterd in GIFT City.

In 2023, NSE launched the Social Stock Exchange to allow social enterprises, including non-profit organisations, raise funds from the public.{{cite news |title=While markets boom, what's up at India's Social Stock Exchange? |url=https://economictimes.indiatimes.com/industry/banking/finance/while-markets-boom-whats-up-at-indias-social-stock-exchange/articleshow/112045270.cms |access-date=2 April 2025 |work=The Economic Times |date=26 July 2024}}

As of December 2024, NSE has 2,671 companies listed, with 2,084 companies listed on the mainboard and 587 companies listed on its SME platform−NSE EMERGE.{{Cite web |last=Bhattacharya |first=Agnidev |date=2025-01-01 |title=NSE 2024 Highlights: Record Listings, Wealth Creation And An Increasing Investor Base |url=https://www.ndtvprofit.com/markets/nse-2024-highlights-record-listings-wealth-creation-and-increasing-investor-base |access-date=2025-01-06 |website=NDTV Profit |language=en}} Total market capitalization of NSE-listed companies was {{INR}}438.9 lakh crore (US$5.13 trillion), as of 31 December 2024.{{Cite news |date=2025-01-01 |title=Market capitalisation of NSE increased to $5.13 trillion, up 21.5% in 2024 |url=https://timesofindia.indiatimes.com/business/india-business/market-capitalisation-of-nse-increased-to-5-13-trillion-up-21-5-in-2024/articleshow/116845651.cms |access-date=2025-01-06 |work=The Times of India |issn=0971-8257}}

As of December 2023, there were 190 ETFs listed on the NSE, including ETFs on equity, debt and commodity asset classes.{{cite news |title=ETF turnover tops Rs 1 trillion for second year on the trot, shows data |url=https://www.business-standard.com/markets/news/etf-trading-turnover-tops-rs-1-trillion-for-second-year-in-a-row-124022000866_1.html |access-date=2 April 2025 |work=Business Standard}} The first InvIT listed on the NSE in 2017 and the first REIT in 2019.{{cite news |title=India's first InvIT issue, of IRB Infrastructure, opens on Wednesday |url=https://www.thehindubusinessline.com/markets/stock-markets/indias-first-invit-issue-of-irb-infrastructure-opens-on-wednesday/article64269250.ece |access-date=2 April 2025 |work=BusinessLine |date=2 May 2017 |language=en}}{{cite news |title=Embassy Office Parks REIT debuts at Rs 308, a 2.7% premium to issue price |url=https://www.moneycontrol.com/news/business/ipo/embassy-office-parks-reit-debuts-at-rs-308-a-2-7-premium-to-issue-price-3737871.html |access-date=2 April 2025 |work=Moneycontrol |date=1 April 2019}}

As of January 2025, NSE has over 11 crore unique registered investors.{{Cite news |last=Khanna |first=Surbhi |date=2025-01-22 |title=NSE registered investor base crosses 11 crore unique investors and over 21 crore total accounts |url=https://economictimes.indiatimes.com/mf/mf-news/nse-registered-investor-base-crosses-11-crore-unique-investors-and-over-21-crore-total-accounts/articleshow/117450424.cms?from=mdr |access-date=2025-02-22 |work=The Economic Times |issn=0013-0389}}

NSE Indices operates NSE's broad-based, sectoral, thematic, strategy and fixed-income indices.{{cite news |title=NSE unveils new brand identity for Nifty50 |url=https://economictimes.indiatimes.com/markets/stocks/news/nse-unveils-new-brand-identity-for-nifty50/articleshow/69538073.cms |access-date=2 April 2025 |work=The Economic Times |date=28 May 2019}} The flagship index NIFTY 50 was launched on 22 April 1996, with a base value of 1,000 on the base date of 3 November 1995.{{cite web|url=https://www.nseindia.com/global/content/about_us/history_milestones.htm |title=History & Milestones|website=Nseindia.com|access-date=23 February 2022}}{{Cite web |title=Nifty 50 |website=niftyindices.com |url=https://www.niftyindices.com/indices/equity/broad-based-indices/nifty--50}}

The NSE allows trading of futures and options contracts of indices and single stock contracts.{{cite web |last1=Sanchit |first1=Taksali |title=Nifty Option Chain |url=https://investiture.in/option-chain/ |website=Investiture.in |publisher=Sanchit |access-date=20 January 2020 |archive-date=27 February 2020 |archive-url=https://web.archive.org/web/20200227180746/https://investiture.in/option-chain/ |url-status=dead }}

On 3 May 2012, the National Stock exchange launched derivative contracts (futures and options) on FTSE 100, a widely tracked index of the UK equity stock market.{{cite web|url=https://www.thehindubusinessline.com/portfolio/technical-analysis/article3436632.ece|title=An opportunity to trade the FTSE-100|first=Yoganand|last=D|website=@businessline|date=19 May 2012 }} On 10 January 2013, the National Stock Exchange signed a letter of intent with the Japan Exchange Group, Inc. (JPX) for the launch of NIFTY 50 index futures on the Osaka Securities Exchange (OSE).{{Cite news|date=2013-01-10|title=UPDATE 1–India's NSE, Japan's JPX plan Nifty futures for Osaka|language=en|work=Reuters|first1=Rafael |last1=Nam |first2=Abhishek |last2=Vishnoi|url=https://www.reuters.com/article/india-japan-exchanges-idUSL4N0AF4ZJ20130110|access-date=2023-09-08}}{{cite web|url=https://www.nseindia.com/products/content/equities/indices/broad_indices.htm|title=Broad Market Indices|website=Nseindia.com|access-date=23 February 2022}}

As of March 2025, state-owned Indian investors in NSE include Life Insurance Corporation (10.7%), State Bank of India (3.23%), SBI Caps (4.33%) and Stock Holding Corporation of India Limited (4.40%). Private equity investors include Aranda Investments Mauritius Pte Ltd (Temasek Holdings), PI Opportunities Fund I (PremjiInvest) and MS Strategic Mauritius Pte Ltd (Morgan Stanley).{{cite news |last1=Coutinho |first1=Ashley |title=NSE IPO delay may hit State-owned investors the hardest |url=https://www.thehindubusinessline.com/markets/nse-ipo-delay-may-hit-state-owned-investors-the-hardest/article69385605.ece |access-date=2 April 2025 |work=BusinessLine |date=28 March 2025 |language=en}}

The list of CEO and MDs of NSE includes:

|{{Cite web |date=2022-07-18 |title=Meet Ashish Chauhan — the new MD and CEO of National Stock Exchange |url=https://www.cnbctv18.com/market/meet-ashish-chauhan--the-new-md-and-ceo-of-national-stock-exchange-14168392.htm |access-date=2023-12-13 |website=CNBCTV18 |language=en}}

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• NSE Indices Limited
• NSE International Exchange (NSE IX), via NSE IFSC Limited
• NSE Clearing Limited
• NSE NSEIT Limited
• NSE Infotech Services Limited
• NSE Cogencis Information Services Limited
• NSE IFSC Clearing Corporation Limited
• NSE Investments Limited
• NSE Data & Analytics Limited
• NSE Academy Limited{{Cite web |title=Group Companies |url=https://www.nseindia.com/national-stock-exchange/our-group |access-date=30 March 2023 |website=NSE}}

NSE has collaborated with several universities like Gokhale Institute of Politics & Economics (GIPE) - Pune, Bharati Vidyapeeth Deemed University (BVDU) - Pune, Guru Gobind Singh Indraprastha University - Delhi, RV University{{Cite web|url=https://www.telegraphindia.com/edugraph/news/nse-academy-limited-collaborates-with-rv-university-for-post-graduate-certification-program/cid/1975236|title=NSE Academy Limited collaborates with RV University for Post Graduate Certification Program}} - Bangalore, the Ravenshaw University - Cuttack and Punjabi University - Patiala, among others to offer MBA and BBA courses. NSE has also provided mock market simulation software called NSE Learn to Trade (NLT) to develop investment, trading, and portfolio management skills among the students.{{Cite news|url=http://www.thehindu.com/news/cities/Visakhapatnam/nse-to-spread-financial-literacy/article7993802.ece|title=NSE to spread financial literacy|last=Patnaik|first=Santosh|work=The Hindu|access-date=2017-02-26|language=en}} The simulation software is very similar to the software currently being used by the market professionals and helps students to learn how to trade in the markets. NSE also conducts online examinations and awards certification, under its Certification in Financial Markets (NCFM) programs.{{Cite news |date=29 November 2012 |title=NSE ties with deemed University to offer pg diploma in financial markets |work=EduTech |url=http://www.edu-leaders.com/content/nse-ties-deemed-university-offer-pg-diploma-financial-markets |url-status=dead |archive-url=https://web.archive.org/web/20130311143734/http://www.edu-leaders.com/content/nse-ties-deemed-university-offer-pg-diploma-financial-markets |archive-date=11 March 2013}} NSE has set up NSE Academy Limited to further financial literacy.

At present, certifications are available in 46 modules, covering different sectors of financial and capital markets, both at the beginner and advanced levels. The list of various modules can be found at the official site of NSE India. In addition, since August 2009, it has offered a short-term course called NSE Certified Capital Market Professional (NCCMP).{{Cite web |title=Home |url=http://www.puneeducation.in/NCFMBhandarkar-Road-Pune |website=NCFM(Bhandarkar Road, Pune)|archive-url=https://web.archive.org/web/20121122060836/http://www.puneeducation.in/NCFMBhandarkar-Road-Pune |archive-date=22 November 2012 }}

NSE has witnessed several high-profile market manipulation scandals including the co-location manipulation instance.{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/news/how-indias-trading-queen-and-mystery-guru-engulfed-nse-in-scandal/articleshow/90343226.cms?from=mdr | title=How India's trading queen and mystery guru engulfed NSE in scandal | newspaper=The Economic Times }}{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/news/the-fall-of-nse-corruption-or-hubris/articleshow/69154289.cms | title=The fall of NSE: Corruption or hubris? | newspaper=The Economic Times | last1=Rangan | first1=MC Govardhana }}{{cite news | url=https://www.reuters.com/article/idINIndia-53153120101125 | title=BSE Sensex drops as corruption scandal weighs | newspaper=Reuters | date=25 November 2010 }}{{cite web | url=https://www.businesstoday.in/latest/corporate/story/sebi-penalises-bse-nse-for-laxity-in-karvy-fraud-case-329647-2022-04-13 | title=SEBI penalises BSE, NSE for 'laxity' in Karvy fraud case | date=13 April 2022 }}{{cite news | url=https://www.business-standard.com/article/markets/trading-queen-and-mystery-guru-strange-tale-engulfs-nse-in-scandal-122032100123_1.html | title=Trading 'queen' and mystery guru: Strange tale engulfs NSE in scandal | newspaper=Business Standard India | date=21 March 2022 }}{{cite web | url=https://www.ndtv.com/india-news/national-stock-exchange-case-who-will-invest-in-india-if-scams-like-this-happen-judge-asks-cbi-in-stock-exchange-manipulation-case-2812478 | title="Who'll Invest in India if Scams Like This Happen?": Judge in NSE Case }}{{cite web | url=https://www.financialexpress.com/market/cbi-arrests-former-nse-ceo-chitra-ramkrishna-in-co-location-scam-case/2452419/ | title=Chitra Ramkrishna arrested; CBI grills former NSE CEO in co-location scam after SEBI's mysterious yogi report | date=7 March 2022 }}{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/news/how-indias-trading-queen-and-mystery-guru-engulfed-nse-in-scandal/articleshow/90343226.cms?from=mdr | title=How India's trading queen and mystery guru engulfed NSE in scandal | newspaper=The Economic Times | access-date=11 January 2023 | archive-date=11 January 2023 | archive-url=https://web.archive.org/web/20230111193659/https://economictimes.indiatimes.com/markets/stocks/news/how-indias-trading-queen-and-mystery-guru-engulfed-nse-in-scandal/articleshow/90343226.cms?from=mdr | url-status=live }}{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/news/the-fall-of-nse-corruption-or-hubris/articleshow/69154289.cms | title=The fall of NSE: Corruption or hubris? | newspaper=The Economic Times | last1=Rangan | first1=MC Govardhana | access-date=11 January 2023 | archive-date=11 January 2023 | archive-url=https://web.archive.org/web/20230111193659/https://economictimes.indiatimes.com/markets/stocks/news/the-fall-of-nse-corruption-or-hubris/articleshow/69154289.cms | url-status=live }}{{cite news | url=https://www.reuters.com/article/idINIndia-53153120101125 | title=BSE Sensex drops as corruption scandal weighs | newspaper=Reuters | date=25 November 2010 | access-date=11 January 2023 | archive-date=11 January 2023 | archive-url=https://web.archive.org/web/20230111193700/https://www.reuters.com/article/idINIndia-53153120101125 | url-status=live }}{{cite web | url=https://www.businesstoday.in/latest/corporate/story/sebi-penalises-bse-nse-for-laxity-in-karvy-fraud-case-329647-2022-04-13 | title=SEBI penalises BSE, NSE for 'laxity' in Karvy fraud case | date=13 April 2022 | access-date=11 January 2023 | archive-date=21 September 2022 | archive-url=https://web.archive.org/web/20220921192656/https://www.businesstoday.in/latest/corporate/story/sebi-penalises-bse-nse-for-laxity-in-karvy-fraud-case-329647-2022-04-13 | url-status=live }}{{cite news | url=https://www.business-standard.com/article/markets/trading-queen-and-mystery-guru-strange-tale-engulfs-nse-in-scandal-122032100123_1.html | title=Trading 'queen' and mystery guru: Strange tale engulfs NSE in scandal | newspaper=Business Standard India | date=21 March 2022 | access-date=11 January 2023 | archive-date=21 September 2022 | archive-url=https://web.archive.org/web/20220921232719/https://www.business-standard.com/article/markets/trading-queen-and-mystery-guru-strange-tale-engulfs-nse-in-scandal-122032100123_1.html | url-status=live }}{{cite web | url=https://www.ndtv.com/india-news/national-stock-exchange-case-who-will-invest-in-india-if-scams-like-this-happen-judge-asks-cbi-in-stock-exchange-manipulation-case-2812478 | title="Who'll Invest in India if Scams Like This Happen?": Judge in NSE Case | access-date=11 January 2023 | archive-date=22 September 2022 | archive-url=https://web.archive.org/web/20220922044155/https://www.ndtv.com/india-news/national-stock-exchange-case-who-will-invest-in-india-if-scams-like-this-happen-judge-asks-cbi-in-stock-exchange-manipulation-case-2812478 | url-status=live }}{{cite web | url=https://www.financialexpress.com/market/cbi-arrests-former-nse-ceo-chitra-ramkrishna-in-co-location-scam-case/2452419/ | title=Chitra Ramkrishna arrested; CBI grills former NSE CEO in co-location scam after SEBI's mysterious yogi report | date=7 March 2022 | access-date=11 January 2023 | archive-date=22 September 2022 | archive-url=https://web.archive.org/web/20220922022110/https://www.financialexpress.com/market/cbi-arrests-former-nse-ceo-chitra-ramkrishna-in-co-location-scam-case/2452419/ | url-status=live }} At times, the Securities and Exchange Board of India (SEBI) has barred several individuals and entities from trading on the exchange for insider trading, stock manipulation, especially in illiquid mid-caps, smallcaps and penny stocks.{{cite web |last1=Sreedhar |first1=Vidya |title=Rs 144 crore wrongful profit! Sebi finds stock manipulation in 5 smallcaps |url=https://economictimes.indiatimes.com/markets/stocks/news/sebi-bars-135-entities-from-market-on-alleged-share-manipulation-in-5-smallcaps/articleshow/101167757.cms |website=The Economic Times |access-date=24 August 2023 |date=21 June 2023}}{{cite news |title=Sebi ban pinches penny stocks |url=https://www.business-standard.com/article/markets/sebi-ban-pinches-penny-stocks-105102601049_1.html |access-date=24 August 2023 |work=Business Standard}}{{cite news |title=SEBI Cracks Down on Misuse of Penny Stocks |url=https://thewire.in/business/penny-stocks-bogus-claims-sebi |access-date=24 August 2023 |work=The Wire}}{{cite news |title=I-T Department, SEBI begin crackdown on penny stock firms in PMO-led push |url=https://www.moneycontrol.com/news/business/markets/i-t-department-sebi-begin-crackdown-on-penny-stock-firms-in-pmo-led-push-2442315.html |access-date=24 August 2023 |work=Moneycontrol |date=20 November 2017 |language=en}}{{cite news |last1=Rampal |first1=Nikhil |title=Pump & dump: How SEBI caught Arshad Warsi & others 'manipulating' stock prices in 'finfluencer' scheme |url=https://theprint.in/business/pump-dump-how-sebi-caught-arshad-warsi-others-manipulating-stock-prices-in-finfluencer-scheme/1413718/ |access-date=24 August 2023 |work=ThePrint |date=3 March 2023}}{{cite news |title=Sebi bans FIIs, brokers for GDR manipulation |url=https://timesofindia.indiatimes.com/business/india-business/sebi-bans-fiis-brokers-for-gdr-manipulation/articleshow/10072999.cms |access-date=24 August 2023 |work=The Times of India |date=22 September 2011}}{{cite news |title=Fight against black money: Sebi bars 59 entities for evading taxes |url=https://www.hindustantimes.com/business/fight-against-black-money-sebi-bars-59-entities-for-evading-taxes/story-kRhJVKW9JTtpN8frb0fO8I.html |access-date=24 August 2023 |work=Hindustan Times |date=20 August 2015 |language=en}}{{cite news |title=Sebi goes after companies rigging share prices |url=https://www.businesstoday.in/magazine/markets/story/sebi-bans-239-entities-individuals-for-rigging-share-prices-53892-2015-08-12 |access-date=24 August 2023 |work=Business Today |date=12 August 2015 |language=en}}

Market operators continue to operate in the NSE, albeit within a regulatory framework aimed at ensuring transparency and fairness. Market operators are individuals or entities that actively engage in buying and selling securities to influence their prices for profit. They operate through various strategies, such as arbitrage, short selling, high-frequency trading, front running, churning, scalping, wash trading, spoofing, and layering, often leveraging sophisticated technology and large capital. Regulatory bodies like the Securities and Exchange Board of India (SEBI) oversee market activities to curb malpractices such as insider trading, price rigging, and market manipulation. SEBI has implemented measures, including surveillance systems, to detect and penalize unethical practices. Despite these regulations, market operators exploit loopholes to gain an edge, necessitating continuous vigilance and regulatory updates. Market operators often use the pump and dump strategy, despite strict regulations against such practices. This scheme involves artificially inflating the price of a stock through false or misleading positive statements. Once the price has been significantly raised, the operators then sell off their holdings at the inflated prices, leading to a sharp price decline and substantial losses for other investors who bought in at the higher prices. Their activities have continued to impact market volatility, liquidity, and price discovery, playing a significant role in the dynamics of NSE.Uppal, Jamshed Y., and Inayat U. Mangla. “Market Volatility, Manipulation, and Regulatory Response: A Comparative Study of Bombay and Karachi Stock Markets.” The Pakistan Development Review, vol. 45, no. 4, 2006, pp. 1071–83. {{JSTOR|41260669}}. Accessed 30 May 2024.Goel, A., Tripathi, V. and Agarwal, M. (2021), "Market microstructure: a comparative study of Bombay stock exchange and national stock exchange", Journal of Advances in Management Research, Vol. 18 No. 3, pp. 414-442. {{doi|10.1108/JAMR-06-2020-0109}}{{Cite journal | url=https://www.researchgate.net/profile/Chakrapani-Chaturvedula/publication/311446941_The_Effectiveness_of_Trade_for_Trade_Segment_as_a_Surveillance_Effort_to_Prevent_Price_Manipulation_Evidence_from_India/links/58f7a2094585158d8a6c176e/The-Effectiveness-of-Trade-for-Trade-Segment-as-a-Surveillance-Effort-to-Prevent-Price-Manipulation-Evidence-from-India.pdf | title=The Effectiveness of Trade for Trade Segment as a Surveillance Effort to Prevent Price Manipulation: Evidence from India | author1=Kanaiyalal Parmar | author2=Chakrapani Venkata Chaturvedula | journal=Accounting and Finance Research | volume=6 | issue=1 | page=10694}}{{cite journal | url=https://www.emerald.com/insight/content/doi/10.1108/JEFAS-04-2021-0040/full/html | doi=10.1108/JEFAS-04-2021-0040 | title=Testing the market efficiency in Indian stock market: Evidence from Bombay Stock Exchange broad market indices | date=2022 | last1=Elangovan | first1=Rajesh | last2=Irudayasamy | first2=Francis Gnanasekar | last3=Parayitam | first3=Satyanarayana | journal=Journal of Economics, Finance and Administrative Science | volume=27 | issue=54 | pages=313–327 | hdl=10419/289641 | hdl-access=free }}Prabu, A.E., Bhattacharyya, I. & Ray, P. Impact of monetary policy on the Indian stock market: Does the devil lie in the detail?. Ind. Econ. Rev. 55, 27–50 (2020). {{doi|10.1007/s41775-020-00078-2}}

{{see also|NSE co-location scam}}

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• List of companies listed on the National Stock Exchange of India
• Economy of India
• List of stock exchanges
• Bombay Stock Exchange
• Stock market crashes in India
• Mutual funds in India
• Muhurat trading
• Clause 49
• Securities and Exchange Board of India

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• {{cite book|title=Multivariate Analysis to Get an Estimate of the Indian Stock Market Nifty Index|author=Rawlin, R.|isbn=978-3-6560-6385-8|year=2011|publisher=GRIN Verlag}}
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