The National Stock Exchange of India (NSE) is a stock exchange in Mumbai. It is the largest stock exchange in India for equities and derivatives, as far as daily turnover and number of trades go. NSE has a market capitalization of around 47,01,923 Indian Rupees as of August 2009, and is predicted to become the largest stock exchange in India in terms of market capitalization by the end of 2009. Though many other exchanges exist in India, NSE and the Bombay Stock Exchange are considered the most noteworthy stock exchanges. Between them, these two exchanges are accountable for the bulk of share transactions. The key index of the NSE's is the S&P CNX Nifty - otherwise known as the Nifty - an index of 50 chief stocks weighted by market capitalization.
The National Stock Exchange of India's normal trading sessions are carried out between 9:55 a.m. India Time to 3:30 p.m. India Time every day except Saturday, Sunday, and holidays recognized and scheduled in advance by the NSE or by the Indian Government. The NSE, along with Bombay Stock Exchange, (BSE) are considering revising the exchange hours to go from 9 a.m. India Time until 5 p.m. India Time.
Suggestions and feedback from brokers across India on the new proposed hours were welcome and taken into consideration. On November 18, 2009, NSE regulators decided to abandon their goal of having the longest trading hours in after receiving strong opposition from the exchange's members.
NSE is jointly owned by a group of principal financial institutions, banks, insurance companies and other financial intermediaries in India, but the NSE's ownership and management operate as separate bodies. Goldman Sachs and NYSE Euronet are two major foreign investors have taken stakes in the NSE. In October of 2007, the equity market capitalization of the companies listed on the exchange was $1.46 trillion (U.S. dollars); it is the second largest stock exchange in South Asia and the third largest stock exchange in the world in terms concerning the number of trades in equities. It is also considered the second fastest growing exchange in the world, with a growth rate of 16.6 percent.
The National Stock Exchange of India was created in November of 1992 as a tax-paying company. In April of 1993, the NSE was recognized as a stock exchange under the Securities Contracts (Regulation) Act of 1956.