Exchange valuations hold steady, rise as bull market gains ground

Indian benchmark indices are up over 25%, signifying a bull market

The valuations of the two national stock exchanges, the National Stock Exchange and the BSE, have held steady or risen even as the Indian markets have entered a new bull market. 

 

A bull market is when a gain of  at least 20% is seen from a low. Indian benchmark indices are up over 25%. 

 

The shares of the BSE are trading at Rs 201.5, according to the average of buy and sell prices from two sources who deal in unlisted shares. The BSE had a buy range of 190 to 195. The sell price was pegged at Rs 210 by both. 

 

This marks a slight gain over the last quarter, when the going rate in the unlisted shares market was said to be less than the Rs 200-mark.

 

Rates for the National Stock Exchange shares were less readily available. However, one dealer pegged the buy rate for NSE shares at Rs 3,000. The sell rate was Rs 5,000. This is in line with the last deal executed at Rs 4,200 per share. 

 

The BSE and the NSE did not reply to emails seeking comment.

 

The top BSE shareholders include Deutsche Boerse AG, and Singapore Exchange Limited, according to its latest annual report. Each holds 4.91% stake in the bourse. The Life Insurance Corporation of India and the State Bank of India hold 4.84% stake each, while GKFF Ventures holds 4.73%. 

 

The top NSE shareholders include Life Insurance Corporation of India which holds 10.51% and the State Bank of India which holds 10.19%, according to the NSE annual report. IFCI Limited and IDFC Limited hold 5.55% and 5.33% respectively. The Stock Holding Corporation of India, GA Global Investments Limited, GS Strategic Investments Limited, SAIF II SE Investments Mauritius Limited and Aranda Investments (Mauritius) Pte. Ltd all hold 5% each.