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 Equities
Being a member of the National Stock Exchange (NSE), dealer with Over The Counter Exchange of India (OTCEI) and M.P. Stock Exchange we handle your trading needs, through a network of experienced dealers across the country, and through our comprehensive website.
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The Indian equity markets have been witnessing a strong rally since 2003 with the benchmark BSE Sensex crossing the 14,500 mark in February 2007 from 5,200 in September 2004 and 6,600 in January 2005 setting a new historical high.

 
Growth of volume traded in Secondary Market (NSE)
  Units Year ended 31 March
Capital Market   2001 2002 2003 2004 2005 2006
No of Companies Listed
  785 793 818 909 970 1,069
Traded Quantity Million 32,953 27,841 36,407 71,330 79,768 84,448
Turnover Rs billion 13,395 5132 6,180 10,995 11,400 15,696
Avg Daily Turnover Rs billion 54 21 25 43 45 63
Wholesale Debt Market
             
Number of trades ‘000 64 145 168 190 124 62
Net Traded Volume Rs billion 4286 9472 10687 13,161 8873 4755
Avg Daily Volumes Rs billion 15 33 36 45 30 18
Derivatives              
Number of contracts ‘000 91 4197 16,769 56,887 77017 157619
Turnover Rs billion 23 1019 4,399 21,306 25470 48,242
Avg Daily Turnover Rs Million 110 4100 17,520 83,880 101,070 192,200
 
Source: NSE Website.
 
Growth of volume traded in Secondary Market (BSE)
  Units   Year ended 31 March
 
Capital Market   2004 2005 2006
No of Companies Listed   5528 4731 4781
Traded Quantity Million 202.80 237.41 264.01
Turnover * Rs billion 5,026.18 5187.16 8160.74
Avg Daily Turnover * Rs billion 237.56 246.16 389.79
 
*Including Equity, Debt and Government Securities.
Source: BSE Website
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Foreign Participation: FII investments in India have increased significantly over the last few years. FII registrations with SEBI have increased from 482 in FY 2001 to 1,048 as on Jan 11, 2006. FII inflows have also risen considerably in recent years as depicted in the table below:
Net FII inflow in India :
 
Net FII in India
Net FII in India Year ended March 31
No. of FIIs (US $ Million)
2006 882 9,332
2005 685 10,152
2004 540 9,950
2003 502 562
2002 490 1,849
2001 527 2,159

Source: RBI

Equity Brokerage
As the Indian capital markets continue to evolve, they are undergoing rapid consolidation driven by increased trading volumes, increased regulation, customer sophistication, availability of better technology and increased back-office requirements. As a result, significant changes have been introduced to strengthen risk management systems. Changes in the regulatory framework and settlement mechanics have resulted in smaller operating players losing market share, leading to consolidation in the industry. The market share of the top five brokers on the NSE has increased from 12% in FY-04 to about 16% in FY- 06. Similarly the market share of the top ten brokers on the NSE has grown from approximately 17% in FY 04 to 23% in FY-06. These figures indicate a long-term consolidation process in a highly fragmented securities brokerage industry, with hundreds of smaller players exiting the market and the larger brokers gaining market shares. The following table shows the volume of trades on the NSE and the percentage undertaken by the top brokers:

 
Volume of trades on the NSE and the percentage Undertaken by the top brokers:
  % Volume by Top broker
 
Year Ended March 31 5 10 100
Feb-08 14 25 76
Jan-08 15 27 76
Dec-07 15 26 74
Nov-07 15 26 75
Oct-07 15 26 76
Sep-07 15 26 73
Aug-07 15 26 73
Jul-07 15 26 74
Jun-07 15 26 73
May-07 15 26 73
Apr-07 16 26 74
2006-2007 15 24 71
2005-2006 15 23 68
2004-2005 14 20 65
2003-2004 12 17 61
2002-2003 10 16 59
 
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* Market Capitalisation in CM segment
Source: NSE Website.
 
Market consolidation is even more pronounced in the on-line trading category where the top five brokers control a very significant share in the market. The rapid growth in on-line trading volumes can be attributed to the growing sophistication of retail investors, availability of reliable internet connectivity and the sophistication of the internet trading products. The following table shows average on-line trading volume for the periods indicated and the percentage of total trading volume.
 
Average on-line trading volume for the periods indicated and the percentage of total trading volume.
 
Year ended March 31 Enabled
Members
Registered
Clients
Trading Volume
( Rs. Billion)
% of total Trading volume
2001 61 123,578 72.88 0.54
2002 82 231,899 81.39 1.59
2003 80 346,420 153.61 2.48
2004 70 463,560 379.45 3.45
2005 78 849,696 810.34 7.11
2006 142 1443,291 1834.29 11.68

Source: NSE Factbook 2006.
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