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Markets
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Economic Survey
Securities markets: Some facts
The equity markets continued to remain upbeat in the current year with the top 50 stocks (Nifty) generating returns of 11 per cent in 2004, following returns of 72 per cent in 2003.
The volume of capital raised in the market including initial public offerings (IPOs) rose by about 5 times to a level of Rs 35,859 crore in 2004.
The mean IPO size grew from Rs 31 crore in 2001 to Rs 870 crore in 2004. The Nifty index experienced sharp growth in market capitalisation from Rs 2,85,007 crore in 2001 to Rs 9,02,831 crore in 2004.
Direct household participation in the securities markets, which had stagnated in 2002, grew strongly in 2003 and 2004 to a level of 6 million accounts at National Securities Depository Ltd
The world ranking of National Stock Exchange and Bombay Stock Exchange improved to three and five in 2003.
Net purchases of equity by foreign institutional investors amounted to an unprecedented Rs 38,965 crore in 2004.
In 2004, the turnover on the equity spot and derivatives markets and the spot market for government bonds was Rs 43 lakh crore and Rs 11 lakh crore, respectively.
The volume of commodity futures in the three commodity exchanges in the country rose to Rs 1.7 lakh crore during April-September 2004, roughly one-third of the GOI bond market and one-tenth of exchange trading in the equity market.
The Securities and Exchange Board of India is developing a database about market participants and investors, called the MAPIN database, to give a Unique Identification Number (UIN) to individuals and entities participating in the capital market, enabling SEBI to rapidly investigate market misbehaviour.
India is ranked 12th in an international comparison of turnover ratio on the equity spot market in the 12-month period from November 2003 to October 2004.
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