BSE Shares Slip 1% as NSE Debuts

BSE shares fell 1% on Thursday after the National Stock Exchange made a muted market debut, trading data showed.

Brokerage Macquarie set a ₹4,000 target for BSE, the firm said.

Brokers said the new exchange's debut redirected some order flow on its first day, placing near-term pressure on incumbent exchange operators and weighing on the BSE share price.

NSE debut Sept 24

Market participants described the listing as muted, with brokers reporting subdued buying interest for the new venue on launch day, which limited upside for exchange stocks. Analysts said early trading patterns matter because investor appetite in the first sessions tends to determine whether a new platform quickly attracts listings and volume.

Several brokers told reporters that a quieter debut can compress short-term fee growth for established exchanges as issuers and market-makers pause listing decisions. They added that a sustained shift in listings would affect trading revenue and index composition over months rather than days.

Watchers said Macquarie's ₹4,000 target provides a reference point for investors evaluating BSE's medium-term prospects, even as initial market responses remain variable.

Watch: By Sept 25, 2026, traders said they will reassess whether liquidity around the NSE debut has stabilized and whether BSE recovers lost ground.