Shares of the Bombay Stock Exchange (BSE) declined by 3.3%, reaching a low of ₹3,832 on the National Stock Exchange (NSE) despite reporting a robust financial performance for the March quarter of FY26. The exchange's consolidated net profit rose to ₹797 crore, a 61% increase from ₹494 crore in the same quarter last year. Revenue also saw a significant jump, increasing 85% year-on-year to ₹1,564 crore. A key contributor to this growth was the revenue from transaction charges, which surged 114% YoY to ₹1,311 crore. On a sequential basis, net profit grew 32% from ₹602 crore in Q3 FY26, while revenue increased 26% from ₹1,244 crore in the previous quarter.

Analysts from Nuvama Institutional Equities have maintained a 'Buy' rating on BSE shares, setting a target price of ₹4,570, which suggests a potential upside of 15%. They believe that BSE will experience a relatively lower impact from the reduction in weekly contract volumes, as these account for only 21.3% of its index options premium volumes, compared to 46.9% for the National Stock Exchange (NSE). Furthermore, BSE has significant room to grow its derivatives active customer base, which currently stands at 15 lakh-20 lakh monthly users, compared to around 42 lakh for NSE. The management emphasized that increasing participation in monthly contracts is a strategic priority, with monthly contract volumes increasing 5x YoY. Upgrades to trading infrastructure have enhanced BSE's capacity, allowing it to handle nearly 29,000 trades per second per broker, attracting a broader range of participants.