List of Stock Exchanges in India

List of Stock Exchanges in India

by Anupam Shukla
Last Updated: 13 May, 202510 min read
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List of Stock Exchange in IndiaList of Stock Exchange in India
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When we hear the term stock market, the first thing that often comes to mind is the stock exchange. It’s the place where shares, bonds, and other securities are bought and sold. Stock exchanges help companies raise money and provide investors with a platform to trade safely and easily.

In India, well-known stock exchanges like NSE and BSE make this possible. While NSE and BSE are the most popular, are they the only stock exchanges operating in India? In this article, we’ll explore the list of stock exchanges in India, understand how they work, and compare them to help you choose the right one for your investment needs.

Types of Stock Exchanges in India

The stock exchange in India is categorized into multiple types, each playing a vital role in shaping the country's financial and trading landscape. Here’s a quick breakdown of each category 

1) Recognised Active Stock Exchanges: 

These are the exchanges that are currently recognised by SEBI (Securities and Exchange Board of India) and are actively functioning:

  • Bombay Stock Exchange (BSE): Established in 1875, it is the oldest stock exchange in Asia.

  • National Stock Exchange (NSE): Established in 1992, it is the largest stock exchange in India, known for high trading volumes and technological advancement.

  • Metropolitan Stock Exchange of India Ltd. (MSEI): Established in 2008, this exchange facilitates trading in equity, derivatives, and debt instruments.

  • India International Exchange (India INX) and NSE IFSC Ltd: Both these exchanges are located in GIFT City, Gujarat, and provide services for international investors.

2) Defunct/De-recognised Stock Exchanges

Some stock exchanges, such as the Delhi Stock Exchange, the Kolkata Stock Exchange, and the Guwahati Stock Exchange, have been de-recognised by SEBI. These exchanges were closed due to low trading volumes, technological backwardness, and non-compliance with regulatory requirements.

3) Commodity Exchanges

Commodity exchanges are platforms where commodities such as agricultural, metals, and energy products are traded. The major commodity exchanges in India are:

  • Multi Commodity Exchange (MCX): It is the largest commodity exchange in India, where gold, silver, crude oil, etc., are traded.

  • National Commodity and Derivatives Exchange (NCDEX): It mainly facilitates trading in agricultural products such as wheat, gram, mustard, etc.

Thus, the variety of stock exchanges in India provides investors with various options, allowing them to choose the appropriate platform as per their investment strategies.

List of Stock Exchanges in India - Active & Recognized

The table below shows the total stock exchanges in India that are active and recognized by SEBI. Some cater to domestic investors, while others are set up for international transactions.

S. No.

Biggest Stock Exchange in India

Location

Status & Category

1

NSE Ltd. (National Stock Exchange)

Mumbai

Active Major National Exchange

2

BSE Ltd. (Bombay Stock Exchange)

Mumbai

Active Asia’s Oldest and Popular Exchange

3

MCX (Multi Commodity Exchange of India Ltd.)

Mumbai

Active Leading Commodity Exchange

4

NCDEX (National Commodity & Derivatives Exchange)

Mumbai

Active Agricultural Commodity Exchange

5

Metropolitan Stock Exchange of India Ltd. (MSEI)

Mumbai

Active SEBI recognition till Sept 2025

6

Calcutta Stock Exchange Ltd. (CSE)

Kolkata

Active (SEBI recognized but non-trading)

7

India International Exchange (India INX)

GIFT City, Gujarat

Active International Exchange

8

NSE IFSC Ltd

GIFT City, Gujarat

Active International Exchange

  • NSE and BSE are the two major and most active stock exchanges in India for equities.

  • MCX and NCDEX deal in commodity trading and are very popular among traders and hedgers.

  • India INX and NSE IFSC are international exchanges catering to global investors, situated in GIFT City.

  • CSE remains SEBI-recognized but has had no active trading for several years.

Overview of the Biggest Stock Exchanges in India

As we have already gone through the list of stock exchanges in India, let’s now dive deeper into their overview to understand their workings, locations, and key indices:

1) National Stock Exchange of India  (NSE)

NSE is the largest and most modern stock exchange in India. It is based on a fully automated electronic trading system, which is known for transparency and speed. Trading is done here in equity, derivatives, debt, and currency markets. Its most famous index is NIFTY 50, which reflects the performance of 50 major companies of the country. NSE has made investment in the country easier, faster, and more transparent.

  • Location: Mumbai, Maharashtra

  • Year of establishment: 1992

  • Major index: NIFTY 50

2) Bombay Stock Exchange (BSE)

BSE is the oldest stock exchange in Asia and one of the fastest exchanges in the world. It has the ability to execute orders in 6 microseconds. The most famous index of BSE is SENSEX, which measures the performance of 30 major companies. There are more than 5000 companies listed on BSE, making it the most diverse exchange in the world.

  • Location: Mumbai, Maharashtra

  • Year of establishment: 1875

  • Key Indexes: SENSEX

3) Multi Commodity Exchange of India (MCX)

MCX is India's largest commodity derivatives exchange. Metals like gold, silver, crude oil, copper, and other commodities are traded here. This exchange provides protection to traders and hedgers from fluctuations in commodity prices. It plays a very important role in risk management in the financial market.

  • Location: Mumbai, Maharashtra

  • Year of establishment: 2003

  • Trading Segment: Commodity Derivatives (Gold, Silver, Crude Oil, Copper, etc.

4) National Commodity and Derivatives Exchange (NCDEX)

NCDEX is a leading agricultural commodity exchange. It facilitates trading in agricultural products like wheat, gram, mustard, soybean, etc. The exchange provides price discovery and hedging tools, especially for farmers, traders, and agri-business companies. NCDEX makes the agricultural market organized and transparent.

  • Location: Mumbai, Maharashtra

  • Year of Establishment: 2003

  • Trading Segment: Agricultural Commodity Derivatives (Gram, Mustard, Wheat, Soybean, etc.)

5. Calcutta Stock Exchange (CSE)

CSE is one of the oldest exchanges in India. Though trading on it has been suspended since 2013, it has not been formally shut down yet. SEBI has ordered the cancellation of its recognition, but the case is still pending in the court. Despite this, its historical contribution has been significant in the development of India's stock market.

  • Location: Kolkata, West Bengal

  • Founded: 1908

  • Trading Segment: (Currently Closed, Formerly Equity Trading)

6. India International Exchange (India INX)

India INX is India's first international stock exchange, a subsidiary of BSE. This exchange provides international trading facilities to global investors. A 22-hour trading facility is available here, so that foreign investors can easily invest even in different time zones. This exchange allows trading in equities, derivatives, bonds, and mutual funds.

  • Location: GIFT City, Gujarat

  • Year of establishment: 2017

  • Trading Segments: Global Equities, Currencies, Derivatives, Bonds, ETFs

7. NSE IFSC Ltd.

This is the international branch of NSE, established specifically keeping foreign investors in mind. This exchange operates under the International Financial Services Center (IFSC). Here, investors get facilities like tax benefits and long trading periods. NSE IFSC is an important step towards making India a global investment hub.

  • Location: GIFT City, Gujarat

  • Year of establishment: 2016

  • Trading Segments: International Equity Derivatives, Indices, ETFs, Bonds

Comparison of the Biggest Stock Exchanges in India

Feature

NSE

BSE

INX (GIFT City)

Market Capitalization

Very High

High

Emerging

Trading Volume

Highest

High

Growing

Popular Index

Nifty 50

Sensex

N.A.

No. of Listed Companies

2000+

5000+

N.A.

Founded Year

1992

1875

2017

Who Regulates Stock Exchanges in India?

The main body that regulates all stock exchanges in India is the Securities and Exchange Board of India (SEBI). This institution was established by law in 1992, and its objective is to ensure investor protection, transparency, and regular operations of the stock market.

What does SEBI do?

  • Recognition & Licensing of Stock Exchange: Any stock exchange in India can operate legally only if it is recognized by SEBI. To get recognition, the exchange has to meet several parameters related to financial stability, technology, risk management, governance, and investor protection.

  • Surveillance & Monitoring: SEBI monitors all transactions taking place on stock exchanges. It ensures that no one can do insider trading, fraud, or market manipulation. If any irregularities are found, SEBI takes strict action, such as fines, bans, or cancellation of the license.

  • Regulations & Compliance: SEBI makes clear rules for stock exchanges and their associated brokers, investment advisors, mutual funds, portfolio managers, etc. They have to ensure regular reporting, auditing, and transparency. Penalties are also fixed for violating the rules.

  • Investor Protection & Education: SEBI continuously strives to educate investors, conduct awareness campaigns, and resolve their problems through the Investor Grievance Redressal System.

How to Choose a Stock Exchange for Trading?

Before trading in the Indian stock market, it is important to understand which stock exchange will be most suitable. In India, the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange) are mainly used for trading. Both exchanges have some similarities, but there are also some important differences between them, understanding which can make the trading experience better.

Below are some important points that can help in choosing the right stock exchange:

Liquidity and Trading Volumes:

The exchange on which there is more trading is considered more liquid. A more liquid exchange means that stocks can be bought and sold quickly and at a fair price.

NSE is considered to be the most liquid stock exchange in India, with heavy trading in both derivatives and equities.

Broker Availability and Access: 

A SEBI-registered broker is required to trade on every exchange. Some brokers are affiliated only with NSE, while some are affiliated with BSE or both.

It is easier and more convenient to trade on an exchange with which the broker has a direct and strong connection.

Available Products and Trading Segments: 

Each exchange has its own focus; some are strong in equities, some in commodities, futures, options, or currency derivatives. For example, NSE is a better choice for derivatives and currency trading, while BSE is popular for mutual funds and SME listings.

MCX and NCDEX are the major exchanges for commodity trading.

Technical Infrastructure and Platform Quality: 

The technical robustness of the exchange directly affects the trading experience.NSE's trading engine is considered fast and reliable, allowing orders to be executed quickly and accurately. New technology-equipped exchanges like India INX also offer 24x7 trading options, especially for international investors.

While selecting an exchange, its volume, broker connectivity, product range, and technical strength should be kept in mind. This can lead to better decisions in investment or trading.

Conclusion

Understanding the stock exchanges in India is the foundation of a successful investment journey. Be it an investor or a trader, it is important to know which exchanges are active, which have high volumes, and which products are available on their platforms. Exchanges like NSE, BSE, and MCX form the backbone of the Indian financial system and ensure transparency and security under the supervision of SEBI. The right information can not only reduce risk but also help in making better decisions.

Open your trading account with a SEBI-registered broker and take the first step into the world of investments with confidence.

FAQs

Q1. What is the difference between NSE and BSE?

NSE (National Stock Exchange) is India's largest and most liquid stock exchange, where most derivatives are traded. BSE (Bombay Stock Exchange) is India's oldest exchange, known for the Sensex index. The companies listed on both exchanges and the trading systems may be different.

Q2. Can I trade on multiple exchanges?

Yes, trading can be done on different exchanges like NSE, BSE, and MCX from a single trading account if the brokerage firm is associated with both or multiple exchanges.

Q3. What is the GIFT City stock exchange (India INX)?

India INX is India's first international stock exchange, located in GIFT City, Gujarat. It offers 24/7 trading and is primarily designed for foreign investors and international markets.

Q4. Who regulates stock exchanges in India?

All stock exchanges in India are regulated by SEBI (Securities and Exchange Board of India). SEBI ensures that trading is transparent, investors are protected, and market discipline is maintained.

Disclaimer

The content on this blog is for educational purposes only and should not be considered investment advice. While we strive for accuracy, some information may contain errors or delays in updates.

Mentions of stocks or investment products are solely for informational purposes and do not constitute recommendations. Investors should conduct their own research before making any decisions.

Investing in financial markets are subject to market risks, and past performance does not guarantee future results. It is advisable to consult a qualified financial professional, review official documents, and verify information independently before making investment decisions.

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