When we say stock exchanges in India, most people only imagine The Bombay Stock Exchange (BSE), and the National Stock Exchange (NSE). But did you know there are seven different stock exchanges in India?

Here’s a complete list:

List of stock exchanges in India

BSE Limited

Types of securities traded – equity and equity derivatives, currency derivatives, interest rate derivatives, commodity derivatives, and debt

Established in 1875, the Bombay Stock Exchange, or sometimes referred to as Dalal Street – where the exchange is located in Mumbai – is the oldest stock exchange in India. As of May 2021, BSE touched a market cap of Rs 2,27,34,000 crore (US$3.2 trillion).

The main index of the BSE is the S&P BSE Sensitivity Index – shortened to Sensex – that tracks the performance of the 30 largest and most active stocks listed on the exchange. Some of the other popular BSE indices include BSE 100, BSE Mid Cap and Small Cap indices, BSE 200, BSEMetal and BSEAuto, among others.

  • Calcutta Stock Exchange Limited

Types of securities traded – equity and equity derivatives, currency derivatives, interest rate derivatives, commodity derivatives, and debt

The second-oldest stock exchange in India is the Calcutta Stock Exchange (CSE) established in 1908 in Calcutta. CSE was recognised as a stock exchange in the year 1956 under the Securities Contract (Regulations) Act, 1956.

Operations of the exchange however was halted after it was jolted by the Rs 120 crore Ketan Parekh scam. The organization has recently been revived with newer and stricter rules and checkpoints in place, and it sees renewed investor participation and interest. CSE is now a professional exchange, much like the BSE and NSE.

  • NSE Limited

Types of securities traded – equity and equity derivatives, currency derivatives, interest rate derivatives, commodity derivatives, and debt

The National Stock Exchange (NSE) is the largest exchange in India. It listed itself as an Indian stock exchange in 1993 under the provisions of the Securities Contract Regulations Act. It was the one to revolutionize the markets by introducing trading in dematerialized format, facilitating the establishment of the National Securities Depository Limited (NSDL).

The benchmark index of NSE is the Nifty-50 that tracks the top 100 of the market’s best performers. The NSE also has other smaller indices such as the Nifty-100, Nifty-IT, Nifty-CPSE, Nifty 50 Value 20, etc.

In 2000, NSE introduced derivatives trading that has led to futures and options markets becoming hugely popular.

  • National Commodity and Derivatives Exchange of India Limited

Types of securities traded – Commodity derivatives

Founded in April 2003, investors buy and sell different types of commodity derivatives on the NCDEX.

NCDEX provides an online platform for trading in agricultural goods from across the country. It boasts of a strong network of 50,000 terminals across 1,000 centres. The organization is headquartered in Mumbai.

  • Multi Commodity Exchange of India Limited

Types of securities traded – Commodity derivatives

Multi-Commodity Exchange or MCX began its operations in November 2003, primarily for trading in commodity derivatives.

Recently, MCX generated a considerable turnover of $50 trillion and ranked 7th in the commodity exchanges globally.

MCX has introduced an app called ComRIS that helps in keeping the records of all the transactions routed through MCX. Additionally, MCX itself is listed on the BSE and NSE.

  • Metropolitan Stock Exchange of India Limited

Types of securities traded – equity and equity derivatives, currency derivatives, interest rate futures, commodity derivatives, and debt

The Metropolitan Stock Exchange, or MSE, was registered in 2008, as an organization that functioned as a clearing house. It helped with the clearance and settlement of trade contracts that involved multiple types of asset classes.

SEBI recognized MSE as a notified exchange in 2012. In May 2013, MSE launched its index called SX40 which is a free-float index comprising 40 large-cap stocks from the different segments of the economy.

  • Indian Commodity Exchange Limited

Types of securities traded – Commodity derivatives

The Indian Commodity Exchange (ICEX) is the arena for commodity derivatives trading. Established in August 2017, it is a relatively new addition to the markets. The ICEX is headquartered in Mumbai and boasts of being the only exchange in the world that deals in diamond derivative contracts.

Which stock exchange should I invest with?

All the exchanges are recognised by SEBI and they don’t have a material impact on the performance of your investments. You can choose any exchange depending on your investment needs. If you are looking to trade in stocks and mutual funds, NSE, BSE or CSE would be suitable choices, and if you are looking to trade in commodities, you need to choose exchanges that facilitate the trading of commodity derivatives, such as ICEX, MCX, and NCDEX.

Conclusion

While all stock exchanges are technologically upgraded and activities overseen by the SEBI and its guidelines, it is important to note that each exchange functions unilaterally. That is, it has its own jurisdiction when it comes to trades and activities performed on its platforms. Assess the different platforms and then make a choice depending on the type of asset that you want to invest in. Also, it helps to know that different stock exchanges have different timetables of operations; you may want to check on the holiday calendar and timings before you get transacting.