List of Stock Exchanges in India: NSE, BSE & Complete Guide
15 Jun 2026
5 mins read
India's financial landscape is home to several prominent stock exchanges that play a crucial role in the country's economy. The major stock exchanges, including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), facilitate the buying and selling of securities, providing a platform for investors to trade in equities, derivatives, and other financial instruments. Let us understand more about stock exchanges, list of stock exchanges in India and more in detail.
What is a Stock Exchange?
Stock exchanges serve as organized platforms for the buying and selling of securities, facilitating price discovery and liquidity in the financial markets. They connect issuers of securities with investors, enabling capital formation and economic growth. For investors, stock exchanges provide access to a wide range of investment opportunities and a transparent environment for trading.
Government regulations ensure the integrity and stability of stock exchanges, protecting investors from fraud and market manipulation. The Securities and Exchange Board of India (SEBI) plays a crucial role in monitoring and enforcing these regulations, promoting fair practices and transparency in the Indian securities market.
Are you planning to initiate your trading journey? Would you like to know how many stock exchanges are there in India? Below is an overview of the 9 major stock exchange in India.
Table of Contents
List of Stock Exchanges in India
A stock exchange is a place where people buy and sell things like stocks, commodities, or currencies. Now, let us go through list of stock exchanges in India below in detail:
1) Bombay Stock Exchange Ltd
The Bombay Stock Exchange (BSE), founded in 1875, is Asia’s first stock exchange in the world. Over the past 143 years, it has played a key role in helping Indian companies raise capital. Originally called ‘The Native Share & Stock Brokers' Association,’ it became the BSE and was listed on the stock market in 2017, making it the first Indian stock exchange to do so. Today, BSE offers a transparent and efficient marketplace for trading stocks, currencies, bonds, derivatives, and mutual funds.
The two key indices of BSE Ltd include BSE Sensex and BSE 500. The BSE Sensex is a benchmark index that tracks the performance of the top 30 large-cap companies listed on the BSE, reflecting the overall market sentiment in India whereas the BSE 500 Index represents the performance of the top 500 companies listed on the Bombay Stock Exchange, offering a broad representation of the Indian stock market across various sectors.
Apart from its two key indices, other important indices of BSE include:
Overview of NSE (National Stock Exchange)
The National Stock Exchange (NSE) was founded in 1992 and was officially recognized by the Securities and Exchange Board of India (SEBI) in 1993 and started operations in 1994.
Initially, it focused on the wholesale debt market and soon after introduced the cash market segment. One of its key innovations was an electronic trading system that replaced the old paper-based system, making trading easier and more efficient. This helped NSE become a strong competitor to the BSE.
In 1995-96, the NSE launched the Nifty 50 Index, which lists the top 50 companies traded on the exchange. It also started trading and settling securities electronically, using dematerialized (paperless) forms.
Apart from the Nifty 50, NSE also has other important indices, such as Nifty Next 50, Nifty 500, Nifty Midcap 150, Nifty Smallcap 250, and Nifty MidSmallcap 400
3) Calcutta Stock Exchange Ltd
The Calcutta Stock Exchange (CSE), established in 1908, is one of the oldest stock exchanges in India. Located in Kolkata, West Bengal, it played a pivotal role in the development of the Indian securities market.
CSE was formally recognized by the Government of India in 1956 under the Securities Contracts (Regulation) Act. Historically, it was the hub for trading in various Indian companies, though it has seen a decline in activity due to competition from other exchanges like the NSE and BSE.
Its key indices include the CSE 30 and CSE Sectoral indices, which track the performance of prominent stocks and sectors listed on the exchange. Over time, CSE has adapted to electronic trading and today, it primarily facilitates trading in regional and small-cap stocks.
4) Metropolitan Stock Exchange of India Ltd
The Metropolitan Stock Exchange of India (MSE) is a recognized stock exchange, approved by the Securities and Exchange Board of India (SEBI) under the Securities Contracts (Regulation) Act, 1956. It was officially recognized as a "Stock Exchange" by the Ministry of Corporate Affairs on December 21, 2012.
MSE provides a modern and transparent platform for trading in various financial markets, including Capital Markets, Futures & Options, Currency Derivatives, and Debt Markets.
MSE began operations in the Currency Derivatives segment on October 7, 2008, under the rules of SEBI and the Reserve Bank of India (RBI). It launched the Capital Market, Futures & Options, and its main index, the SX40, on February 9, 2013, with trading starting on February 11, 2013.
The SX40 is an index made up of 40 large, liquid stocks from different sectors of the economy. MSE also started its Debt Market segment on June 7, 2013, with trading beginning on June 10, 2013. In addition, MSE launched trading in cash-settled Interest Rate Futures (IRF) based on Government of India securities on January 20, 2014, providing a way to hedge against changing interest rates.
5) Multi Commodity Exchange of India Ltd
The Multi Commodity Exchange of India Limited (MCX) is a modern platform for online trading in commodity derivatives, helping people trade and manage risks related to commodities. It started in November 2003 and operates under the rules of the Securities and Exchange Board of India (SEBI).
MCX allows trading in a wide range of commodities, including precious metals (like gold and silver), industrial metals (like copper and aluminum), energy products (like crude oil and natural gas), and agricultural goods.
MCX's main index series, called MCX iCOMDEX, tracks the price changes of key commodities traded on the exchange. The series includes a general index as well as three sector-specific indices: the Base Metal index (MCX METLDEX), the Bullion index (MCX BULLDEX), and the Energy index (MCX ENRGDEX). Additionally, there are individual commodity indices for Gold, Silver, Aluminium, Copper, Lead, Zinc, Crude Oil, and Natural Gas.
6) National Commodity & Derivatives Exchange Ltd
The National Commodity & Derivatives Exchange Limited (NCDEX) is an online exchange that specializes in trading both agricultural and non-agricultural commodities. It was founded on April 23, 2003, and began its operations on December 15, 2003, under the Forward Contracts (Regulation) Act, 1952.
On September 28, 2015, NCDEX became a recognized stock exchange under the Securities Contracts (Regulation) Act, 1956, and is now regulated by the Securities and Exchange Board of India (SEBI).
The Exchange offers a wide range of products, including commodity futures, options in goods, and index futures. These products create various opportunities for different participants in the commodity derivatives market.
7) Indian Commodity Exchange Limited
Indian Commodity Exchange Limited (ICEX) is a leading commodity exchange in India, offering a platform for trading various commodity derivatives. It was established in 2009 and is regulated by the SEBI.
The exchange was created to enhance price discovery, risk management, and the overall liquidity in commodity markets. ICEX was launched in 2009 under the name "Indian Commodity Exchange," to provide a nationwide platform for commodity futures trading.
In 2017, it became the first exchange to launch diamond futures contracts in India. Its key indices include ICEX Gold Index, ICEX Silver Index, and ICEX Base Metals Index. These indices track the price movement of popular commodities and serve as benchmarks for the overall commodity market performance.
8) India International Exchange (India INX)
India International Exchange (India INX) is a leading international stock exchange located in GIFT City, Gandhinagar, Gujarat, India. Launched in January 2017, it is a fully owned subsidiary of the Bombay Stock Exchange (BSE) and serves as a platform for global investors to trade in Indian financial products. India INX offers to trade in equity derivatives, currency derivatives, commodity derivatives, and fixed-income products. The exchange operates 22 hours a day, catering to global markets across different time zones.
Key indices on India INX include the India INX Nifty 50 Index and the India INX Sensex Index. These indices track the performance of the top 50 and 30 companies listed on the BSE, respectively.
9) NSE IFSC
The National Stock Exchange International Financial Services Centre (NSE IFSC) launched in 2017, provides a platform for trading in a wide range of financial products, including equities, derivatives, and currencies, catering to international investors. Key indices include the NSE IFSC Nifty (representing the performance of the 50 largest companies) and Nifty Bank (tracking the banking sector). The exchange facilitates foreign investment by offering tax incentives and a favorable regulatory environment.
Difference Between NSE and BSE
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are the two most prominent stock exchanges of India. Although both serve the purpose of being platforms for securities trading, they vary in terms of their history, benchmark indices, trading volumes, and participation.
Feature | NSE | BSE |
| Full Form | National Stock Exchange | Bombay Stock Exchange |
| Established | 1992 | 1875 |
| Benchmark Index | Nifty 50 | Sensex |
| Number of Listed Companies | Around 2,000+ | Around 5,000+ |
| Trading Volume | Higher | Lower compared to NSE |
| Electronic Trading | Introduced electronic trading from inception | Adopted electronic trading later |
| Derivatives Trading | Dominates derivatives segment | Lower derivatives volume |
Functions and Role of Stock Exchange in India
Below are some of the functions and role of stock exchange in India:
- Stock exchanges in India, like BSE and NSE, provide a platform for buying and selling securities, ensuring liquidity and price discovery.
- Ensure fair trading practices, transparency, and regulatory compliance through frameworks set by SEBI (Securities and Exchange Board of India).
- Stock exchanges allow companies to raise capital by issuing shares and bonds to the public through Initial Public Offerings (IPOs) and debt instruments.
- They provide individual and institutional investors with access to a wide range of investment opportunities.
- Stock exchanges maintain indexes (like Nifty and Sensex) to track market performance and serve as economic indicators.
- Exchanges promote investor education and protect market participants through rules and mechanisms that prevent fraud and market manipulation.
How Stock Exchanges Work in India
The stock exchanges in India facilitate an electronic marketplace where buyers and sellers can trade securities such as stocks, bonds, ETFs, and derivatives. SEBI ensures that the trading processes adhere to principles of transparency, fairness, and safety for the investors.
An investor who initiates a buy or a sell order through his or her broker sends the order to a stock exchange like NSE or BSE. The exchange then matches the buyer and seller via its automatic system based on pricing criteria and time priority.
The steps involved are:
- Order Placing: The investors send the order to the exchange via trading platforms.
- Order Matching: The exchange matches the buyers and sellers automatically.
- Execution of Orders: The order matching is followed by the execution of the trades at agreed-upon prices.
- Clearing and Settlement: Clearing corporations carry out processing of transactions; settlement involves transfer of securities and money from one party to the other.
- Crediting of Shares to Demat Accounts: Purchased shares will be credited to the Demat account of the investor, while money will go into the bank account of the seller.
Such an efficient trading mechanism allows millions of investors to trade in the stock market without any problems.
Importance of Stock Exchanges in India
It is an indispensable part of the Indian economy that facilitates a secure environment to purchase and sell securities including equity shares, bonds, ETFs and derivatives on stock exchanges. They serve as intermediaries between companies looking for capital and people investing in securities.
Two of the most prominent stock exchanges in India are National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Some of the prime importance of stock exchanges are as follows:
- Liquidity: The process of buying and selling of stocks is fast and convenient.
- Price Discovery: Stocks are traded at price levels decided through demand and supply forces.
- Capital Formation: Firms get an opportunity to acquire funds from general public by way of issuing stocks.
- Investor Protection: The exchange activities are carried out under the provisions of Securities and Exchange Board of India (SEBI).
- Economic Growth: Capital is efficiently allocated leading to company expansion and economic growth.
- Investment Instruments: Stock exchanges offer diversified portfolio of investment instruments for investors.
Thus, through organized trade, they help gain confidence among investors in the country's capital markets.
How to Invest in Indian Stock Exchanges?
To start trading on Indian stock exchanges, follow these simple steps:
- Choose a Stock Broker
- Open a Trading Account
- Open a Demat Account
- Link Your Bank Account
- Learn Basic Stock Market Concepts
- Fund Your Trading Account
- Choose the Right Stocks
- Place Your First Trade
- Monitor and Review Your Portfolio
- Stay Updated and Learn
- File Taxes and Report Gains
- Start small as the stock market can be volatile.
Role of SEBI in Regulating Exchanges
The Securities and Exchange Board of India (SEBI) plays a crucial role in regulating exchanges in India. Here are the 6 key points outlining its role:
- SEBI oversees and ensures that stock exchanges like the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) operate in a fair, transparent, and efficient manner.
- SEBI sets guidelines and rules for how trading should be conducted, ensuring that all participants, including brokers and investors, follow a fair process.
- SEBI continuously monitors trading activities to prevent malpractices like insider trading, market manipulation, or fraud. It ensures that no one can take unfair advantage in the market.
- SEBI works to protect investors by enforcing regulations that promote transparency and accountability.
- SEBI ensures that securities are priced fairly and that no one can manipulate stock prices. This is important for creating a level playing field for all market participants.
If an exchange or a trader violates rules or engages in illegal activities, SEBI has the authority to take actions such as imposing fines, suspending licenses, or even shutting down operations.
Common Mistakes to Avoid When Trading on Indian Stock Exchanges
Here are some 8 common mistakes to avoid when trading on Indian stock exchanges:
- Jumping into trades without understanding the company or the stock.
- Making decisions based on emotions like fear, greed, or excitement.
- Putting all your money in one stock or sector.
- Trading too frequently, hoping to make quick profits.
- Not setting stop-loss orders or managing risk properly.
- Buying or selling stocks just because others are doing it.
- Ignoring brokerage fees, taxes, and other costs involved in trading.
- Trying to predict short-term market movements or "timing" the perfect buy/sell.
FAQS on List of Stock Exchanges in India
What is a stock exchange?
A stock exchange is a regulated marketplace where securities like stocks, bonds, and derivatives are bought and sold by investors. It ensures transparent trading, price discovery, and liquidity.
How many stock exchanges are there in India?
There are two major stock exchanges that exist actively in India at present, namely the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Although there were various other stock exchanges that functioned in different parts of India in earlier times, most of them are defunct now. Thus, both NSE and BSE remain the most active stock exchanges for trading in securities.
How many stock exchanges are there in India?
There are two major stock exchanges in India: the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), along with a few regional exchanges.
Which are the major stock exchanges in India?
India has two main exchanges:
- Bombay Stock Exchange (BSE) – Started in 1875, it is Asia’s oldest exchange.
- National Stock Exchange (NSE) – Set up in 1992, it is known for modern, technology-driven trading systems.
How does the Bombay Stock Exchange (BSE) work?
The BSE allows companies to list their shares and investors to trade them electronically through brokers. It provides price discovery, liquidity, and publishes the SENSEX index, which tracks 30 leading companies as a measure of market health.
What is the National Stock Exchange (NSE) of India?
The NSE is the largest exchange in India in terms of trading volume. It offers equities, derivatives, debt, and currency trading. Its benchmark index, the NIFTY 50, reflects the performance of the top 50 listed companies.
How can I start investing in the Indian stock market?
To begin investing, you need to:
- Open a Demat account and a trading account with a SEBI-registered broker.
- Complete the KYC process with ID and address proof.
- Add funds to your trading account from your bank.
- Place buy or sell orders for stocks through the broker’s app or website.
What are the key indices in the Indian stock market?
Some of the most tracked indices are:
- BSE SENSEX – Represents 30 major companies on the BSE.
- NSE NIFTY 50 – Represents 50 large companies listed on the NSE.
- Other indices like NIFTY Bank, NIFTY IT, BSE Midcap, and BSE Smallcap, which track sectoral or size-based performance.
Which is the largest stock exchange in India?
The National Stock Exchange (NSE) can be identified as the largest stock exchange in India. Its distinguishing characteristics include high liquidity, superior electronic trading platform, and leadership in derivatives segment. The benchmark index of NSE is Nifty 50.
What is the difference between NSE and BSE?
The key difference between NSE and BSE pertains to the amount of trade volumes carried out by these two entities, as well as their benchmark indices. In particular, the NSE, founded in 1992, is characterized by high trade volumes with benchmark index being Nifty 50. The Bombay Stock Exchange, which was founded much earlier (in 1875), is the oldest stock exchange of Asia and utilizes Sensex as its benchmark index.
