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The NSE’s market debut has given BSE trading activity a sharp boost, with the exchange’s September average daily cash turnover crossing ₹11,000 crore, its highest level in 27 months.
By Yoosef K September 24, 2026, 9:08:48 PM IST (Published)
2 Min Read
The debut of the Stock Exchange (NSE) has given a significant boost to trading activity on the Bombay Stock Exchange (BSE), with the exchange’s average daily cash turnover for September crossing ₹11,000 crore on Thursday — its highest level in 27 months.
With four trading days still left in the month, this is only the third time the BSE has recorded turnover at this level. The latest surge came after the listing of the NSE, India’s largest stock exchange.
BSE’s daily turnover rose to ₹11,055 crore on Thursday, making it the third-highest level on record. Previously, turnover reached its highest levels in March 2017 and June 2024, when a spate of large block deals drove trading activity.
In March 2017, block deals worth a record ₹2.32 lakh crore took place, taking BSE turnover to an all-time high of ₹13,141 crore. In June 2024, block deals worth ₹1.01 lakh crore pushed turnover to around ₹12,000 crore.
This time, however, the surge was driven primarily by trading in NSE shares following their market debut.
Historical data compiled from Bloomberg shows that there have been only seven instances when BSE’s daily cash turnover crossed the ₹10,000-crore mark. Three of those came in 2024 and another three in 2026. In August this year, block deals worth ₹98,353 crore pushed BSE turnover to ₹10,590 crore.
On Thursday, NSE’s own turnover stood at ₹9,483 crore, accounting for almost half of BSE’s total cash turnover of ₹20,672 crore, according to data on the exchange’s website.
While earlier spikes in BSE turnover were largely driven by block deals, Thursday’s jump was primarily attributable to trading in NSE shares after their listing.
Shares of India’s largest exchange rose 1.9% on their debut to close at ₹1,818 on the BSE, valuing NSE at around ₹4.5 lakh crore. The exchange is now among India’s 11 largest listed companies by market capitalisation.
At least four brokerages, including Macquarie Group Ltd., have initiated coverage of NSE. Macquarie assigned an “Outperform” rating and described the exchange as “the dominator”, citing its leading market share and technology stack. Its deep liquidity, the brokerage said, makes NSE the “lynchpin of India’s financialisation.”
“NSE’s valuation premium to global exchanges is supported by higher growth and returns, with the exchange trading at about 30x FY29 estimated earnings versus 18x for international peers,” Macquarie said in an investor note.
