Daijiworld Media Network – Mumbai

Mumbai, Oct 7: The National Stock Exchange (NSE) has stepped up its efforts to regain market share from rival BSE Ltd., Goldman Sachs said in a client note on Tuesday, prompting a marginal revision in BSE’s share price target.

Analysts reduced BSE’s 12-month target to Rs 2,220 from Rs 2,250, indicating a potential upside of 6% from its previous close. The note highlighted two recent strategic moves by NSE: shifting F&O expiry days to Tuesdays, giving NSE an early-week edge, and reducing lot sizes from 75 to 65 for most contracts, narrowing BSE’s advantage in traded premiums. The lot size changes will apply from January 2026 for weekly contracts and earlier for monthly and quarterly contracts.

Despite NSE’s gains, Goldman Sachs expects BSE’s market share to rise from 27% in September 2025 to 40% by March 2027, as the exchange continues adding clients and narrowing the gap with NSE. The note also revised fiscal 2026 average daily premium forecasts down by 7% and earnings by 3%.