Data to 5 October 2026
Sections

Dashboards

How much speculation is there?

How much stock changes hands, and how much of it is kept?

In Sept 2026 NSE handled 4.0 crore cash trades a session at an average of ₹28,920 each; in April 2000 the average trade was ₹77,336. 44% of the rupees traded ended in shares changing owners; the rest was bought and sold within the day. ETFs took 2.9% of cash turnover.

Written for anyone asking how busy the stock market is and whether the trading is investing or day-trading. Data to Sept 2026.

NSE cash turnover a session

₹1.1 lakh cr
₹ crore a session, Sept 2026

A total that grows over time, so its record is the yardstick: the high is ₹1.5 lakh cr, in June 2024. Up from ₹98,313 cr a year ago.

200020102020₹10,000 cr₹1.0 lakh cr₹1.5 lakh cr, Jun 2024₹1.1 lakh cr200020052010201520202025₹10,000 cr₹1.0 lakh cr₹1.5 lakh cr, Jun 2024₹1.1 lakh cr200020052010201520202025₹10,000 cr₹1.0 lakh cr₹1.5 lakh cr, Jun 2024₹1.1 lakh cr200020052010201520202025₹10,000 cr₹1.0 lakh cr₹1.5 lakh cr, Jun 2024₹1.1 lakh cr

What it is. The value of shares traded on NSE in a typical session.

How to read it. Trading rises with prices and with enthusiasm. The rupee amount sets records in most bull markets; turnover against market value is the fairer comparison over time.

Source: NSE Business growth Method Data Full history and numbers

Cash turnover as a share of market value, annualised

61%
a year, Sept 2026

Inside its usual range of 52% to 87%. The low is 37%, in February 2014. Up from 55% a year ago.

200020102020100%150%200%250%usual range, 52% to 87%61%20002005201020152020202550%100%150%200%250%244%, Sept 2000usual range, 52% to 87%61%20002005201020152020202550%100%150%200%250%244%, Sept 200037%, Feb 2014usual range, 52% to 87%61%20002005201020152020202550%100%150%200%250%244%, Sept 200037%, Feb 2014usual range, 52% to 87%61%

What it is. A year of share trading as a share of the market's value.

How to read it. How often shares change hands. Very high readings come with speculative phases; low ones with quiet, long-held markets.

Source: NSE Business growth Method Data Full history and numbers

Share of cash turnover that ends in delivery

44%
of NSE cash turnover, Sept 2026

Inside its usual range of 35% to 44%. The record is 51%, in March 2017. Down from 45% a year ago.

2010202010%20%30%50%51%, Mar 2017usual range, 35% to 44%44%2005201020152020202510%20%30%50%51%, Mar 2017usual range, 35% to 44%44%2005201020152020202510%20%30%50%51%, Mar 2017usual range, 35% to 44%44%2005201020152020202510%20%30%50%51%, Mar 201714%, Aug 2002usual range, 35% to 44%44%

What it is. Of the rupees traded in NSE's cash market in the month, the share that ended in shares actually changing owners rather than being squared off the same day.

How to read it. Low readings mean more of the month's trading was bought and sold within the same day; high readings mean more of it was bought to hold.

Source: NSE business growth Method Data Full history and numbers

The other readings

The rest of the cash market's measures, each with where it sits in its own history.

Cash trades a session
4.0crore
Sept 2026, a year ago 3.2 crore
Higher than 98% of readings since 1999
Average cash trade
₹28,920
Sept 2026, a year ago ₹30,929
Higher than 64% of readings since 1999
ETFs' share of cash turnover
2.9%
Sept 2026, a year ago 2.5%
Higher than 95% of readings since 2011
NSE market value
₹468lakh cr
Sept 2026, a year ago ₹449 lakh cr
below its record

Turnover

Rupee turnover grows with the market, so the records come in most bull runs. Turnover against market value, the second chart, is the fair comparison across decades: it asks how often the market's whole value changes hands.

Cash turnover a session, NSE, from 1999

NSE, average daily turnover each month to Sept 2026, log scale. BSE is in the exchange chapter below.

How to read it. On a log scale equal slopes are equal growth. The surges of 2000, 2007, 2020–21 and 2024 stand out; 2011 to 2013 is the flattest stretch.

Loading chart…

Source: NSE business growth (every segment), BSE derivatives and cash statistics, SEBI Bulletin (open interest, BSE and MSEI cash, depository accounts), NSE delivery and bhavcopy, NSE category-wise turnover and mode of trading; all via the Data bank
Method JSON

How often the market changes hands

Average daily turnover × 250 sessions, as a share of month-end market value. The shaded band is the middle half of all months since 1999.

How to read it. 100% means shares worth the whole market change hands once a year. Readings ran below the usual band from 2011 to 2016 and jumped in 2020; the dot-com spike of 2000 is the outlier.

Loading chart…

Source: NSE business growth (every segment), BSE derivatives and cash statistics, SEBI Bulletin (open interest, BSE and MSEI cash, depository accounts), NSE delivery and bhavcopy, NSE category-wise turnover and mode of trading; all via the Data bank
Method JSON

Trades and trade size

More trades, each smaller: the cash market has become a market of many small orders, from more people and from machines splitting large orders.

Trades a session

Number of NSE cash trades divided by trading days.

How to read it. More trades a session means more participants, more frequent trading, or orders cut into smaller pieces.

Loading chart…

Source: NSE business growth (every segment), BSE derivatives and cash statistics, SEBI Bulletin (open interest, BSE and MSEI cash, depository accounts), NSE delivery and bhavcopy, NSE category-wise turnover and mode of trading; all via the Data bank
Method JSON

Average trade size

Turnover divided by trades, log scale. Recomputed from NSE's totals.

How to read it. A falling line alongside rising trades means smaller orders from more people.

Loading chart…

Source: NSE business growth (every segment), BSE derivatives and cash statistics, SEBI Bulletin (open interest, BSE and MSEI cash, depository accounts), NSE delivery and bhavcopy, NSE category-wise turnover and mode of trading; all via the Data bank
Method JSON

How much ends in delivery

A trade either ends with shares moving into a buyer's demat account, or it is squared off the same day and nothing moves. The share that ends in delivery is a rough line between investing and day-trading. It was 44% in Sept 2026; its lowest since 2015 was 27% in Jul 2020.

Share of NSE cash turnover that ends in delivery

Monthly, from February 2002. Deliverable quantity valued at each day's average traded price, over traded value; only security-days in both NSE's delivery file and the bhavcopy count.

How to read it. Low readings mean more of the month's trading was bought and sold within the day. The share slid from 2017 to a low in 2020 and has since climbed back into its usual range.

Loading chart…

Source: NSE business growth (every segment), BSE derivatives and cash statistics, SEBI Bulletin (open interest, BSE and MSEI cash, depository accounts), NSE delivery and bhavcopy, NSE category-wise turnover and mode of trading; all via the Data bank
Method JSON

ETFs, REITs, gold bonds and SME shares

Trading outside ordinary shares, from the bhavcopy. In Sept 2026, 351 ETFs traded ₹70,220 cr; REITs and InvITs ₹5,326 cr; sovereign gold bonds ₹310 cr; SME shares ₹7,021 cr. The four differ by a factor of a hundred, so each panel has its own scale; compare shapes, not heights.

Monthly turnover outside ordinary shares

₹ crore a month, NSE, from June 2011 (when bhavcopies start carrying the ISINs that identify ETFs) or the product's first trade: SME shares from November 2012, gold bonds June 2016, InvITs May 2017, REITs April 2019. To Sept 2026.

How to read it. Each panel has its own scale. ETF turnover has risen fastest since 2022; the spike in January 2026 is silver and gold ETFs. REIT and InvIT trading stepped up in 2024.

Loading chart…

Source: NSE business growth (every segment), BSE derivatives and cash statistics, SEBI Bulletin (open interest, BSE and MSEI cash, depository accounts), NSE delivery and bhavcopy, NSE category-wise turnover and mode of trading; all via the Data bank
Method JSON

NSE, BSE and MSEI

NSE has taken almost all of India's cash trading. BSE's share of turnover across the three exchanges was 15.4% in April 2014 and 8.1% in Aug 2026; MSEI's is a rounding error.

Share of cash turnover by exchange

NSE, BSE and MSEI, monthly from April 2014 (SEBI Bulletin). The dip in March 2017 is BSE's turnover as published.

How to read it. The thin band at the top is BSE. BSE's recent gains have come in options, not in shares: see the F&O chapter.

NSEBSEMSEI

Loading chart…

Source: NSE business growth (every segment), BSE derivatives and cash statistics, SEBI Bulletin (open interest, BSE and MSEI cash, depository accounts), NSE delivery and bhavcopy, NSE category-wise turnover and mode of trading; all via the Data bank
Method JSON

BSE's share of cash turnover, NSE and BSE only, from 2004

Monthly, BSE's own and NSE's own statistics. The spike in March 2017 is BSE's turnover as published.

How to read it. The long slide is NSE taking the cash market.

Loading chart…

Source: NSE business growth statistics; BSE Key Statistics (equity derivatives and cash market), via Data bank nse_business_growth_history, bse_derivatives_business, bse_equity_business
Method JSON

Companies

NSE's "available for trading" count includes SME companies. Our own count from the daily bhavcopy splits the two: in Sept 2026, 2,605 mainboard and 567 SME companies traded at least once.

Companies listed and trading

Month-end counts. Traded counts are distinct companies with at least one trade in the month (ETFs excluded).

How to read it. The gap between listed and traded is companies that are listed but rarely change hands. The SME line shows the boom in small listings since 2017.

Listed on NSE (NSE)Available for trading (NSE)Mainboard companies that traded (ours)SME companies that traded (ours)

Loading chart…

Source: NSE Business growth (historical) APIs for every segment, via Data bank nse_business_growth_history
Method JSON

By financial year

NSE's own yearly figures, April to March. FY 1994-95 is partial: the cash segment opened in November 1994.

NSE cash market by financial year.
YearTurnoverPer sessionSessionsTradesAvg tradeCos listedMarket valueTurnover / valueMore
2025-26₹260.6 lakh cr₹1.1 lakh cr247826.2 crore₹31,5462,978₹411 lakh cr64%
2024-25₹281.3 lakh cr₹1.1 lakh cr249968.4 crore₹29,0462,719₹411 lakh cr69%
2023-24₹201.0 lakh cr₹81,721 cr246681.3 crore₹29,5102,438₹384 lakh cr53%
2022-23₹133.1 lakh cr₹53,434 cr249473.3 crore₹28,1112,191₹256 lakh cr52%
2021-22₹165.7 lakh cr₹66,799 cr248557.1 crore₹29,7372,065₹262 lakh cr64%
2020-21₹154.0 lakh cr₹61,839 cr249463.3 crore₹33,2371,969₹203 lakh cr76%
2019-20₹90.0 lakh cr₹36,432 cr247314.6 crore₹28,6041,949₹112 lakh cr81%
2018-19₹79.5 lakh cr₹32,052 cr248285.3 crore₹27,8601,931₹149 lakh cr54%
2017-18₹72.3 lakh cr₹29,410 cr246249.1 crore₹29,0391,931₹140 lakh cr52%
2016-17₹50.6 lakh cr₹20,387 cr248197.6 crore₹25,5871,817₹120 lakh cr43%
2015-16₹42.4 lakh cr₹17,154 cr247185.2 crore₹22,8801,808₹93 lakh cr46%
2014-15₹43.3 lakh cr₹17,818 cr243183.3 crore₹23,6231,733₹99 lakh cr45%
2013-14₹28.1 lakh cr₹11,189 cr251144.3 crore₹19,4601,688₹73 lakh cr38%
2012-13₹27.1 lakh cr₹10,833 cr250136.1 crore₹19,9061,666₹62 lakh cr43%
2011-12₹28.1 lakh cr₹11,289 cr249143.8 crore₹19,5511,646₹61 lakh cr46%
2010-11₹35.8 lakh cr₹14,029 cr255155.1 crore₹23,0701,574₹67 lakh cr52%
2009-10₹41.4 lakh cr₹16,959 cr244168.2 crore₹24,6081,470₹60 lakh cr71%
2008-09₹27.5 lakh cr₹11,325 cr243136.5 crore₹20,1601,432₹29 lakh cr98%
2007-08₹35.5 lakh cr₹14,148 cr251117.3 crore₹30,2811,381₹49 lakh cr73%
2006-07₹19.5 lakh cr₹7,812 cr24978.5 crore₹24,7931,228₹34 lakh cr58%
2005-06₹15.7 lakh cr₹6,253 cr25160.9 crore₹25,7771,069₹28 lakh cr56%
2004-05₹11.4 lakh cr₹4,506 cr25345.1 crore₹25,279970₹16 lakh cr71%
2003-04₹11.0 lakh cr₹4,329 cr25437.8 crore₹29,088909₹11 lakh cr97%
2002-03₹6.2 lakh cr₹2,462 cr25124.0 crore₹25,771818₹5 lakh cr115%
2001-02₹5.1 lakh cr₹2,078 cr24717.5 crore₹29,274793₹6 lakh cr82%
2000-01₹13.4 lakh cr₹5,337 cr25116.8 crore₹79,923785₹7 lakh cr203%
1999-00₹8.4 lakh cr₹3,303 cr2549.8 crore₹85,270720₹10 lakh cr81%
1998-99₹4.1 lakh cr₹1,651 cr2515.5 crore₹75,911648₹5 lakh cr84%
1997-98₹3.7 lakh cr₹1,517 cr2443.8 crore₹97,164612₹5 lakh cr79%
1996-97₹2.9 lakh cr₹1,178 cr2502.6 crore₹1,11,554550₹4 lakh cr70%
1995-96₹67,287 cr₹274 cr24666.0 lakh₹1,01,950422₹4 lakh cr17%
1994-95₹1,805 cr₹17.7 cr1023.0 lakh₹60,167135₹4 lakh cr1%

The workings

Method

Data

Every chart has a table view, a CSV download and a link to its published JSON. Bundles are listed in data status.

Read with