Home / Business and Economy / BSE Shares Tumble: Mixed Views Amid Market Slump
BSE Shares Tumble: Mixed Views Amid Market Slump
28 Sep
Summary
- BSE shares fell over 2% amid a broader market decline.
- The stock is trading more than 30% below its May high.
- Brokerages offer mixed views, citing growth versus regulatory headwinds.
BSE shares saw a decline of over 2% on September 28, 2026, mirroring a broader market downturn. The stock's value has dropped more than 30% from its high in May. This performance has led to mixed assessments from financial brokerages, with some highlighting growth potential and others pointing to emerging regulatory and operational challenges.
Macquarie has initiated coverage with an 'Outperform' rating and a target price of Rs 4,000, suggesting a potential 25% upside and emphasizing the exchange's growth in a 12% Total Addressable Market (TAM) CAGR market. This positive outlook contrasts with cautious stances from Jefferies and Nuvama.
Jefferies maintains an 'Underperform' rating, setting a target price of Rs 2,940, citing risks from domestic proprietary traders and headwinds from STT hikes, new RBI bank guarantee norms, and the Closing Auction Session (CAS). Nuvama recently downgraded the stock to 'Hold' with a reduced target price, citing confusion among traders due to CAS, impacting index option premium volumes, and concerns over RBI's bank guarantee norms impacting BSE's market share.
The stock exchange's market capitalization is currently below Rs 1.29 lakh crore. BSE's shares had been under scrutiny following the recent market debut of its rival, NSE, which brought increased attention to capital market stocks.
