Shares of BSE fell 1.5% on Thursday as its rival National Stock Exchange (NSE) made a muted market debut today on Asia’s oldest stock exchange, while Macquarie initiated coverage with an ‘Outperform’ rating and target price implying over 22% upside potential.
BSE shares fell to Rs 3,221 apiece, as NSE shares listed on its platform. The latter debuted with a market capitalisation of more than Rs 4.45 lakh crore to emerge as the second-listed stock exchange in India. Notably, NSE’s market cap is sharply higher than the Rs 1.33 lakh crore market cap BSE currently commands.