The BRICS Securities and Derivatives Markets - Hong Kong ...
The BRICS Securities and Derivatives Markets - Hong Kong ...
The BRICS Securities and Derivatives Markets - Hong Kong ...
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Market capitalisation / cash market turnover (US$ billion)Market capitalisation / cash market turnover (US$ billion)No. of listed companiesNo. of listed companies<strong>The</strong> <strong>BRICS</strong> <strong>Securities</strong> <strong>and</strong> <strong>Derivatives</strong> <strong>Markets</strong>4.2 Cash marketFigure 4-2 shows the growth of the cash markets operated by the NSE <strong>and</strong> the BSE in the pastdecade. Although the BSE has a much larger number of listed companies than the NSE(5,133 vs 1,646 as at the end of March 2012), they have similar equity market capitalisation(US$1,192 billion for the NSE vs US$1,215 billion for the BSE) given that most of thecompanies listed on the NSE are dual-listed on the BSE. NSE’s total cash market turnoverhas grown to 4 times that of BSE by 2011/12 (US$549 billion vs US$130 billion).Figure 4-2. Market capitalisation, turnover value <strong>and</strong> number of listed companiesin the NSE’s <strong>and</strong> the BSE’s cash market segment (2002/03 – 2011/12)NSE1,8001,6001,4001,2001,000800600400200Preiod-end Market capitalisation, cash market trunover <strong>and</strong> no. of listed companies on NSE (2002/03 - 2011/12)818130No. of listed companiesMarket capitalisationCash market turnover909258970362253 2611,0691,228631 7733524461,3811,2158881,4325685401,4701,5741,331 1,5019178011,6461,1925491,8001,6001,4001,2001,00080060040020001132002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/120Reporting yearPreiod-end Market capitalisation, cash market trunover <strong>and</strong> no. of listed companies on BSE (2002/03 - 2011/12)BSE1,8001,6001,4001,2001,0008006004002000No. of listed companies5,650Market capitalisation1,5325,528Cash market turnover1,3661,2851,2155,1335,0674,9758134,9294,887677 4,8214,7314,78160638827739512030521918321624766 116 1191302002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/125,8005,6005,4005,2005,0004,8004,6004,4004,200Reporting yearNotes:(1) Market capitalisation <strong>and</strong> turnover are converted to USD using period-end exchange rates (source: RBI).(2) <strong>The</strong> reporting year covers April each year to March the following year.(3) <strong>The</strong> significant decrease in the number of listed companies in the BSE from 2003/04 to 2004/05 is partlydue to the delisting of 552 companies in July 2004 because of their non-compliance with the BSE’s listingagreements.Sources: NSE statistics <strong>and</strong> SEBI Bulletins- 15 - Research & Corporate Development, HKEx31 December 2012
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