NSE Listing Lifts BSE Cash Market Turnover To ₹20,672 Crore, Highest In 27 Months

The NSE listing lifted BSE’s equity cash-market turnover to ₹20,672.36 crore on Thursday, September 24, the highest level in 27 months, as the newly listed NSE shares accounted for ₹9,483.28 crore, or nearly 46% of BSE’s total cash-market turnover. BSE’s turnover was more than double its average daily turnover of ₹10,117 crore in FY27.

The NSE stock became the most-traded share on BSE by value on its debut, accounting for nearly half of the exchange’s equity cash-market activity. The surge came as investors traded NSE shares on BSE after the National Stock Exchange itself began trading publicly for the first time.

On September 24, NSE shares opened at ₹1,800 on the BSE against the IPO price of ₹1,785. The stock touched an intraday high of ₹1,878 before ending the session at ₹1,818, up 1.85% from the IPO price. A total of 5.15 crore NSE shares changed hands on the BSE during the session, of which around 2.51 crore shares, or 48.78% of the traded quantity, were delivered.

NSE listing on BSE

The NSE debut provided a sharp one-day boost to BSE’s cash-market activity. BSE’s average daily equity cash-market turnover stood at ₹10,117 crore during FY27 before Thursday’s surge, putting the ₹20,672.36 crore turnover at more than twice that level.

NSE shares alone contributed ₹9,483.28 crore to the total. The stock’s trading on BSE reflects the unusual position created by the listing: NSE cannot list its own shares on its own exchange, meaning investors seeking to trade the newly listed stock have to use other exchanges, including BSE.

BSE had an equity cash-market share of around 7% in FY26. The NSE listing therefore gives the exchange an additional source of trading activity, although the longer-term impact will depend on how frequently NSE shares trade after the initial debut-related activity settles.

NSE shares drive BSE turnover

NSE shares recorded a turnover of ₹9,483.28 crore on BSE on their first day, significantly ahead of the other actively traded stocks on the exchange. The high trading value reflected strong activity around the long-awaited listing of India’s largest stock exchange by trading volumes.

The NSE IPO was priced at ₹1,785 per share and raised around ₹22,562 crore through an offer for sale. The issue was subscribed 5.71 times overall, with the qualified institutional buyer portion subscribed 12.68 times, the non-institutional investor portion 6.55 times and the retail portion 1.39 times.

The NSE listing also comes at a time when BSE has been benefiting from increased activity across its cash and derivatives businesses. The debut adds a high-value stock to BSE’s cash market and could provide an additional source of turnover beyond the initial listing session.

BSE cash market turnover

The immediate jump in turnover gives BSE a temporary boost in its share of India’s equity cash market. The longer-term contribution from NSE shares will depend on trading volumes in the stock following the initial listing-day activity.

NSE shares ended their first session at ₹1,818 on BSE, while the exchange recorded ₹20,672.36 crore in total equity cash-market turnover. The debut has therefore had a direct impact on BSE’s trading activity, with NSE shares accounting for almost half of the exchange’s turnover on the first day of trading.

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