NSE Share Price vs BSE Share Price: Why NSE Is Below Its Listing Price While BSE Gains, How the SEBI Closing Auction Rollback Report Lifted Both on 6 October, Support, Target Price and the Rationale
- October 6, 2026
- Posted by: Chaitanya Auti
- Category: News
NSE about Rs 1,760 (+2.1% on 6 Oct) vs Rs 1,785 IPO price. BSE Rs 3,266-3,292 (+2.7-3.6%). Targets: NSE Rs 1,950-2,050; BSE Nuvama Hold Rs 3,240. Stop-loss Rs 1,740.
Quick Answer
NSE share price has traded below its Rs 1,785 IPO price since 28 September, slipping to about Rs 1,761 against a post-listing high of Rs 1,878, while BSE has gained, and both rose on 6 October after Reuters reported that SEBI will partly roll back its closing auction for derivatives. NSE gained about 2.1% to near Rs 1,760 with a market capitalisation of about Rs 4.35 lakh crore, and BSE rose 2.7% to 3.6% to between Rs 3,267 and Rs 3,292. Brokerages are positive on NSE, with Emkay at Rs 2,050, PL Capital at Rs 1,950 and Macquarie in the same range, and chart analysts flag Rs 1,740 as the stop-loss and Rs 1,950 as resistance, while Nuvama has a Hold on BSE with a Rs 3,240 target and expects a sequential fall in Q2 profit. The common driver is regulation, since the closing auction and F&O rules decide volumes and earnings for both exchanges.
NSE share price and BSE share price are moving in opposite directions over the past week, with NSE down about 1.4% and BSE up about 2% before Tuesday’s rally, according to the headline data. NSE listed on 24 September at Rs 1,800 on the BSE after an NSE IPO price of Rs 1,785, and it has since slipped below the issue price.
If you are tracking the NSE share price and the BSE share price, this article covers why NSE is below its IPO price, why BSE has held up, the SEBI closing auction session (CAS) rollback report and the 30-minute VWAP, brokerage targets from Emkay, PL Capital and Nuvama such as Rs 2,050, support and resistance including the Rs 1,740 stop-loss, F&O rules, the Q2 outlook for BSE and the risks. Prices are from market reports on 6 October for the NSE share price and BSE and move through the day.
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NSE Share Price vs BSE Share Price: Where They Stand
| Measure | NSE | BSE |
|---|---|---|
| Price on 6 October | About Rs 1,760, up about 2.1% in early trade | Rs 3,266.70 to Rs 3,292.30, up 2.7% to 3.6% |
| Market capitalisation | About Rs 4.35 lakh crore | About Rs 1.35 lakh crore |
| Since listing or IPO | Below the Rs 1,785 IPO price and below the Rs 1,800 listing price | Not applicable; a long-listed stock |
| Recent move | Down about 1.4% in a week before the rally | Up about 2% in a week |
| Brokerage view | Buy and Accumulate with targets of Rs 1,950 to Rs 2,050 | Nuvama Hold with a target of Rs 3,240 |
NSE became the 11th-largest listed Indian company by market capitalisation when it slipped below its issue price, ahead of Titan, which shows how large the listing was. BSE is a much smaller company with a very different set of drivers.
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Why the NSE Share Price Is Below Its IPO Price
- Full valuation: the IPO priced NSE at about 47 times earnings, which left little room for a listing pop.
- Pure offer for sale: the issue let existing holders sell and raised no money for growth, so the market absorbed supply.
- Profit booking: institutions sold after the listing, taking the stock from Rs 1,878 to Rs 1,761.
- Regulatory headwinds: SEBI’s F&O curbs have already dented NSE’s profit, and SEBI is both its regulator and the architect of the rules.
- A weak market: the Nifty fell for eight straight weeks, hurting capital market stocks.
The business itself is dominant, with about 93% of the cash market and a near-monopoly in equity futures and stock options, which is why brokerages remain positive on the NSE share price.
Why the BSE Share Price Has Held Up and What Changed for the NSE Share Price on 6 October
BSE shares rose as much as 3.55% to Rs 3,292.30 on 6 October after Reuters reported that SEBI will likely stop using the closing auction session (CAS) to set derivatives settlement prices for at least a year and use a 30-minute VWAP instead. Nuvama said a normalised VIX and CAS dragged BSE’s index options premium turnover down 23.9% quarter on quarter in Q2 to about Rs 22,500 crore a day, so a rollback could help volumes and the NSE share price too. Angel One, MOFSL, Nuvama Wealth and other capital market stocks also gained.
| BSE Q2 preview from Nuvama | Detail |
|---|---|
| Index options premium turnover | About Rs 22,500 crore a day, down 23.9% on the quarter |
| Revenue estimate | About Rs 1,430 crore |
| Profit | Likely to fall sequentially |
| Rating and target | Hold, target Rs 3,240, about 1.9% upside from the earlier price |
| Key monitorables | CAS regulation, cash market share, colocation and the SGF contribution |
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NSE Share Price: Support, Resistance and Target Price
| Level | Type | Why it matters |
|---|---|---|
| Rs 2,050 | Emkay target | Buy rating |
| Rs 1,950 | PL Capital target and chart resistance | Accumulate rating |
| Rs 1,878 | Post-listing high | First big hurdle |
| Rs 1,800 | Listing price | Reclaiming it would show recovery |
| Rs 1,785 | IPO price | Key psychological level |
| About Rs 1,760 | 6 October trading level | Below the IPO price |
| Rs 1,740 | Chart stop-loss | A close below would shake holders |
Chart analysts suggest a strict stop-loss for the NSE share price at Rs 1,740, just below the issue price, and resistance near Rs 1,950. Emkay’s Rs 2,050 target is about 16% above Rs 1,760, my calculation. Deven Choksey has called NSE a deep value investment for patient holders. These are views and not recommendations.
Rationale: Why the NSE Share Price and BSE Share Price Depend on SEBI
| Factor | Effect on NSE | Effect on BSE |
|---|---|---|
| Closing auction session | Index options volumes and settlement; a rollback is mildly positive | BSE’s options turnover fell in Q2; a rollback helps |
| F&O curbs | Already cut FY26 profit; further curbs are a risk | Reduces total volumes but can shift share |
| Market share | About 93% in cash and near-monopoly in equity derivatives | Gaining share in index options after its relaunch |
| Regulation of the regulator | SEBI regulates NSE and sets the rules | Same regulatory dependence |
The NSE share price and BSE both rise and fall with trading volumes and regulation, which is why a single Reuters report moved them together on 6 October.
Risks Behind the NSE Share Price and BSE Share Price
Regulatory risk: SEBI decisions on CAS and F&O can change volumes and profit overnight.
Valuation: NSE was priced at about 47 times earnings at the IPO, which weighs on the NSE share price.
Volume swings: A weak market lowers trading activity for both exchanges.
Supply overhang: Further share sales by existing NSE holders can cap the NSE share price.
Q2 earnings: BSE’s profit is expected to fall sequentially.
What to Watch Next for the NSE Share Price and BSE Share Price
- The final SEBI circular on the closing auction and derivatives settlement, expected by end-October.
- Whether NSE reclaims Rs 1,785 and Rs 1,800 or breaks Rs 1,740.
- BSE’s Q2 results for options turnover and profit.
- Weekly and monthly derivatives volumes after the VWAP switch.
- Any new F&O rules from SEBI.
Conclusion
The NSE share price is still near Rs 1,760, below its Rs 1,785 NSE IPO price, while BSE trades between Rs 3,267 and Rs 3,292 after both rallied on the SEBI closing auction rollback report. NSE targets sit at Rs 1,950 to Rs 2,050 with a Rs 1,740 chart stop-loss, and Nuvama has a Hold on BSE at Rs 3,240. Regulation is the shared driver, so watch SEBI’s circular. Consult a SEBI-registered advisor before making any decision.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why is the NSE share price below its IPO price?
Ans. The NSE share price fell after listing on profit booking, a full valuation of about 47 times earnings, an offer-for-sale structure and F&O regulatory headwinds.
What is the NSE IPO price and listing price?
Ans. The IPO price was Rs 1,785, and the stock listed on 24 September at about Rs 1,800 on the BSE, hitting a high of Rs 1,878.
What is the NSE target price?
Ans. For the NSE share price, Emkay has Rs 2,050, PL Capital Rs 1,950, and Macquarie is in the same range, while chart analysts flag Rs 1,950 as resistance.
What is the NSE stop-loss level?
Ans. Chart analysts suggest a strict stop-loss at Rs 1,740, just below the issue price. These are views and not recommendations.
Why did NSE and BSE shares rise on 6 October?
Ans. Reuters reported that SEBI will likely stop using the closing auction session for derivatives settlement for at least a year, which could help volumes and the NSE share price.
What is the BSE share price target?
Ans. Nuvama has a Hold with a target of Rs 3,240 and expects Q2 profit to fall sequentially.
Which is better, NSE or BSE?
Ans. Both depend on regulation and volumes. The NSE share price reflects a dominant but richly valued business, and BSE is gaining share but faces a weaker Q2.
Should I buy the NSE share price or BSE now?
Ans. This article does not constitute investment advice. Regulatory risk is high for both. Consult a SEBI-registered financial advisor.