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13 Jan 2026
Shares of the National Stock Exchange (NSE) witnessed a significant rally in unlisted trading, surging 6% to cross the ₹2,000 threshold, following regulatory clarity regarding the exchange's highly anticipated initial public offering (IPO).
According to Sandip Ginodia, director at Altius Investech, the rally was driven by a "pick-up in incremental demand and higher trading volumes in NSE shares over the weekend" following the regulatory developments.
The rally was triggered by comments from SEBI chairperson Tuhin Kanta Pandey, who indicated significant progress on NSE's IPO approval process. According to ANI reports, Pandey stated that the regulator is at a "very advanced stage" of granting the no-objection certificate for NSE's IPO, with potential clearance expected in January.
NSE shares have encountered significant headwinds in recent months, primarily stemming from regulatory changes and delayed IPO approval. The stock has predominantly traded below ₹2,000 since September, reflecting investor concerns about multiple factors affecting the exchange's business.
SEBI's regulatory measures have created operational challenges for NSE, particularly in the derivatives segment. The regulator implemented several changes that have affected trading volumes and revenue generation:
Market analysts present divergent views on NSE's current valuation and future prospects. Hitesh Dharawat of Dharawat Securities expressed caution about the sustainability of current price levels, stating, "With expectations of dull Q3, we believe the current price levels may not be sustainable."
Conversely, Ginodia maintains an optimistic outlook for post-listing performance, emphasizing that "NSE is currently trading at a discount to BSE and will list on the BSE. Given the possibility of a higher free float and potential inclusion in the Sensex from listing, the stock could see strong buying from passive funds post-listing."
The National Stock Exchange of India has declared a complete trading holiday on Thursday, January 15, 2026, due to the Brihanmumbai Municipal Corporation elections in Mumbai. The announcement, made through an official circular on Monday, represents a significant expansion from the exchange's initial plans.
In its latest circular, the NSE stated: "In partial modification to Exchange circular reference no. NSE/CMTR/71775, the Exchange hereby notifies Thursday, January 15, 2026 as a trading holiday in Capital Market (CM) Segment on account of Municipal Corporation Election in Maharashtra."
Stock markets are crucial indicators of a country's economic growth. With India poised to become one of the largest economies in the world, the stock market provides an opportunity for all Indians to participate in the growth story.
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