In India, there are 24 stock exchanges where people can buy and sell shares, debentures and financial securities for speculative purposes.
However, the two major stock exchanges of the of the country are the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Bombay Stock Exchange (BSE) is the first stock exchange in all over Asia. Founded in 1875 by Premchand Roychand, the stock exchange is considered as the fastest stock exchange in the world. It is the 11th largest stock exchange in the world where over 5500 firms are publicly listed.
Mumbai-based BSE got government recognition on August 31, 1957, under the Securities Contracts Regulation Act. The benchmark index of BSE, the Sensitive Index (Sensex) was introduced in 1986, while the bourse launched its fully automated trading platform known as BSE On-Line Trading system (BOLT) in 1995.
The BSE is a corporate entity and led by a board of directors. A governing council and management come at the next level who are responsible for presiding over its daily activities.
It offers a wide array of services related to different fields such as risk management, depository services through Central Depository Services Limited, market data services etc.
The National Stock Exchange of India Limited (NSE) was established in 1992 in Mumbai. It was India's first demutualised electronic bourse and also the country's first bourse to offer modern, fully automated screen-based electronic trading system facilitating easy trading option to the investors.
The NSE uses Nifty or Nifty 50 as its benchmark index. The term Nifty is derived by combining the words 'National' and 'fifty', referring the 50 active company stocks it consists of.