The National Stock Exchange of India (NSE) Group has reaffirmed its global dominance in the derivatives market, securing the top spot for the fifth consecutive year in 2023, as announced by the Futures Industry Association (FIA). In addition to this, NSE has clinched the 3rd position globally in the equity segment, according to statistics provided by the World Federation of Exchanges (WFE). The accolades come amid a year of remarkable milestones for the Indian stock market, with the market capitalization of listed companies surpassing USD 4 trillion. Notably, SME listed companies surpassed the Rs 1,00,000 crore mark, and the Nifty 50 index breached the historic 20,000 index levels for the first time. The number of unique registered investors on the exchange soared to over 8.5 crores by the end of 2023.
Meghalaya also finds itself in the financial spotlight as NSE experienced a surge in year-on-year growth for the 10th consecutive year. Furthermore, in November 2023, NSE witnessed a record-high turnover of Rs 167,942.47 crores in the equity segment, followed by another peak at Rs 381,623.12 crores in December 2023 in the equity derivatives segment. In line with its commitment to innovation, NSE successfully completed the transition for the settlement of all securities on a T+1 basis in the equity segment. The primary market also witnessed a reduction in the timeline for listing securities to T+3 days. Additionally, the exchange launched the Social Stock Exchange, facilitating Non-Profit Organizations (NPOs) and For-Profit Enterprises (FPEs) to showcase their work and raise funds through instruments like Zero Coupon Zero Principal Bonds.
Meanwhile, the commodity derivatives segment witnessed a boost with the launch of 21 new commodity derivatives contracts, including options on futures contracts for commodities such as WTI Crude Oil, Natural Gas, Gold, Silver, and Base metals. NSE International Exchange (NSE IX) further expanded its footprint with the full-scale operations of the NSE IX-SGX GIFT Connect from July 3, 2023. This move aims to create a deeper liquidity pool for Nifty products at GIFT IFSC, providing trading opportunities for almost 21 hours across Asia, Europe, and US trading hours. Sriram Krishnan, Chief Business Development Officer at NSE, expressed gratitude to the Government of India, Securities and Exchange Board of India, Reserve Bank of India, trading members, investors, and all stakeholders for their unwavering support. Krishnan emphasized that securing the 3rd position in the equity segment and maintaining the title of the largest derivatives exchange underscores the robust capabilities of the Indian capital market on the global stage, attracting new investors and fund flows to aid in capital formation.
