NSE becomes world’s 2nd fastest growing stock exchange

NSE becomes world’s 2nd fastest growing stock exchange


Mumbai: The National Stock Exchange has become the world’s second-fastest growing bourse in terms of number of listed companies, while Bombay Stock Exchange has consolidated its position as the biggest bourse.

NSE recorded a 16.6% jump in the number of listings to 1,274 during one-year period ended July 2007, while BSE has become home to a total of 4,853 companies, the World Federation of Exchanges (WFE) said on 29 August.

NSE has seen the number of listed companies surge almost 13 times in as many years. The exchange had about 100 firms in 1994-95, after it was recognized under the Securities Contracts (Regulation) Act in April 1993.

The exchange was next only to a 29% jump in the number of listings at Poland’s Warsaw Stock Exchange in the 12-month period ended July, according WFE’s monthly bulletin.

NSE has been the third-fastest with a growth rate of 15% since April this year, after Warsaw and Malta Stock Exchanges. But the one-year growth rate at Malta exchange remained stagnant at 15.4% in July, while that of NSE rose from 15.2% to 16.6%.

Moreover, the higher growth clocked by the Warsaw and Malta bourses have been primarily due to a lower base, whose total number of listings are just 316 and 15.

The country’s other premier bourse BSE recorded a growth rate of 1.3% in July, up from 1% in the year-ended June 2007.

While the BSE added 11 new companies in July, NSE saw 10 new listings during the month. The growth rate at BSE was lower due to higher base.

A total of 51 companies have joined BSE so far this year, while as many as 91 new companies have listed their shares on the NSE in 2007, according to the WFE data.

Leading global bourses like New York Stock Exchange, London Stock Exchange and Deutsche Boerse in Europe recorded lower growth rates.

In terms of total number of listings, BSE was followed by Canada’s TSX Group (Toronto Stock Exchanges) with 3,903 firms, BME Spanish Exchanges with 3,458 and London Stock Exchange with a total of 3,301 listings.

The global giants in the stock exchange space, NYSE and Nasdaq have close to 3,100 and 2,300 listings respectively.

A number of bourses, including Bermuda, Columbia, Santiago, Bursa Malaysia, New Zealand, Taiwan, Athens, Cairo, Deutsche Boerse, Euronext and Swiss Exchange recorded a decline in the number of listings from their year-ago levels.