OpenDataLoader PDF vs @opendocsg/pdf2md

Same fixture, different extraction paths. Cell alignment, reading order and heading structure are scored separately, and one fixture is a scan with no text layer. These results describe this adapter configuration and this small test set.

Configured adapter capabilities
CapabilityOpenDataLoader PDF@opendocsg/pdf2md
Outputmarkdownmarkdown
OCRbuiltinnone
LicenceApache-2.0MIT
Parser chargeNo parser API feeNo parser API fee

When to test OpenDataLoader PDF

Inspect how reading order, tables and page boundaries survive conversion.

A declared table capability is not a guarantee that every fixture will retain its cell layout.

When to test @opendocsg/pdf2md

Compare a lightweight Markdown converter against native layout-aware parsers.

The current adapter does not declare reliable table reconstruction or OCR support.

Measured fixture results

How these checks work

Captured 2026-09-16 · darwin/arm64 · Node v22.21.1. Median of up to three sequential local samples. Timings will vary on other machines.

Measured parser results on synthetic fixtures
Fixture / parserStatusMedianAligned cellsReading orderHeading
OpenDataLoader PDFok213.0 msNot scoredNot scoredH1
@opendocsg/pdf2mdok5.0 msNot scoredNot scoredH1
OpenDataLoader PDFok201.0 ms0/9 (0%)Not scoredH1
@opendocsg/pdf2mdok5.0 ms0/9 (0%)Not scoredH1
OpenDataLoader PDFok223.0 ms0/20 (0%)Not scoredH1
@opendocsg/pdf2mdok5.0 ms0/20 (0%)Not scoredH1
OpenDataLoader PDFok232.0 msNot scored75.6% · interleavedH1
@opendocsg/pdf2mdok5.0 msNot scored75.6% · interleavedH1
OpenDataLoader PDFok171.0 ms0/9 (0%)Not scoredAbsent
@opendocsg/pdf2mderror3.0 msNot scoredNot scoredNot scored
OpenDataLoader PDFok294.0 ms0/9 (0%)Not scoredH1
@opendocsg/pdf2mdok4.0 ms0/9 (0%)Not scoredH1
OpenDataLoader PDFok2684.0 msNot scoredNot scoredNot scored
@opendocsg/pdf2mdok1452.0 msNot scoredNot scoredNot scored
OpenDataLoader PDF · text-layer.pdf · raw output

Samples: 345.0 ms, 211.0 ms, 213.0 ms

<!-- Page 1 -->

# Quarterly Report

Revenue grew 12% year over year.
@opendocsg/pdf2md · text-layer.pdf · raw output

Samples: 71.0 ms, 5.0 ms, 4.0 ms

# Quarterly Report 

Revenue grew 12% year over year. 


OpenDataLoader PDF · tables.pdf · raw output

Samples: 197.0 ms, 232.0 ms, 201.0 ms

<!-- Page 1 -->

# Financial Summary

Region Q1 Q2 Q3 North 120 145 160 South 98 102 115 East 210 198 225
@opendocsg/pdf2md · tables.pdf · raw output

Samples: 5.0 ms, 4.0 ms, 5.0 ms

# Financial Summary 

Region Q1 Q2 Q3 North 120 145 160 South 98 102 115 East 210 198 225 


OpenDataLoader PDF · ragged-table.pdf · raw output

Samples: 213.0 ms, 223.0 ms, 266.0 ms

<!-- Page 1 -->

# Q3 Results by Region

Region Manager Q1 Q2 Q3 Notes North Alice Chen 120 145 160 strong South 98 102 115 East Bob Lee 210 198 225 recovering West Dana 88 99 pending
@opendocsg/pdf2md · ragged-table.pdf · raw output

Samples: 4.0 ms, 5.0 ms, 5.0 ms

# Q3 Results by Region 

Region Manager Q1 Q2 Q3 Notes North Alice Chen 120 145 160 strong South 98 102 115 East Bob Lee 210 198 225 recovering West Dana 88 99 pending 


OpenDataLoader PDF · multi-column.pdf · raw output

Samples: 233.0 ms, 232.0 ms, 229.0 ms

<!-- Page 1 -->

# On Reading Order

- Left column line 1. Right column line 1.
- Left column line 2. Right column line 2.
- Left column line 3. Right column line 3.
- Left column line 4. Right column line 4.
- Left column line 5. Right column line 5.
- Left column line 6. Right column line 6.
- Left column line 7. Right column line 7.
- Left column line 8. Right column line 8.
- Left column line 9. Right column line 9.
- Left column line 10. Right column line 10.
- Left column line 11. Right column line 11.
- Left column line 12. Right column line 12.
- Left column line 13. Right column line 13.
- Left column line 14. Right column line 14.
- Left column line 15. Right column line 15.
- Left column line 16. Right column line 16.
- Left column line 17. Right column line 17.
- Left column line 18. Right column line 18.
- Left column line 19. Right column line 19.
- Left column line 20. Right column line 20.
@opendocsg/pdf2md · multi-column.pdf · raw output

Samples: 6.0 ms, 5.0 ms, 4.0 ms

# On Reading Order 

Left column line 1. Right column line 1. Left column line 2. Right column line 2. Left column line 3. Right column line 3. Left column line 4. Right column line 4. Left column line 5. Right column line 5. Left column line 6. Right column line 6. Left column line 7. Right column line 7. Left column line 8. Right column line 8. Left column line 9. Right column line 9. Left column line 10. Right column line 10. Left column line 11. Right column line 11. Left column line 12. Right column line 12. Left column line 13. Right column line 13. Left column line 14. Right column line 14. Left column line 15. Right column line 15. Left column line 16. Right column line 16. Left column line 17. Right column line 17. Left column line 18. Right column line 18. Left column line 19. Right column line 19. Left column line 20. Right column line 20. 


OpenDataLoader PDF · scanned.pdf · raw output

Samples: 171.0 ms, 156.0 ms, 175.0 ms

<!-- Page 1 -->
@opendocsg/pdf2md · scanned.pdf · raw output

Samples: 3.0 ms · EMPTY_OUTPUT

No output returned.
OpenDataLoader PDF · interleaved-columns.pdf · raw output

Samples: 294.0 ms, 305.0 ms, 238.0 ms

<!-- Page 1 -->

# Divisional Results

## Coastal Division

Region Q1 Q2 Q3 North 44 17 63 South 17 63 44 East 63 44 17

## Inland Division

Region Q1 Q2 Q3 North 17 44 44 South 63 17 17 East 44 63 63
@opendocsg/pdf2md · interleaved-columns.pdf · raw output

Samples: 8.0 ms, 4.0 ms, 4.0 ms

# Divisional Results 

## Coastal Division 

Region Q1 Q2 Q3 North 44 17 63 South 17 63 44 East 63 44 17 

## Inland Division 

Region Q1 Q2 Q3 North 17 44 44 South 63 17 17 East 44 63 63 


OpenDataLoader PDF · nse-market-pulse.pdf · raw output

Samples: 2684.0 ms

<!-- Page 1 -->

<!-- Page 2 -->

## Market Pulse

September 2026 | Vol. 8, Issue 9



### Market Pulse

#### Volume 8, Issue 9

This publication is issued monthly by the Economic Policy and Research (EPR) department of the National Stock Exchange of India Limited. It is a review of major developments in the economy and financial markets and market statistics for the month gone by, insights from cited academic research papers and topical research articles.

Authors

Tirthankar Patnaik, PhD Prerna Singhvi, CFA Prosenjit Pal Ashiana Salian Sushant Hede Stuti Bakshi Puja Parmar, PhD Aratrik Chakraborty Sahil Bagdi Anuska Mukherjee Anoushka Singh

Past editions of Market Pulse can be accessed at https://www.nseindia.com/research/publications-reports-nsemarket-pulse

##### NATIONAL STOCK EXCHANGE OF INDIA LIMITED

###### 1/327



<!-- Page 3 -->

## Market Pulse

September 2026 | Vol. 8, Issue 9



## Market Pulse

Published by Economic Policy and Research, National Stock Exchange of India Ltd. Copyright © 2026 by National Stock Exchange of India Ltd. (NSE) Exchange Plaza, Bandra Kurla Complex Bandra (East), Mumbai 400 051 INDIA

Any/all Intellectual Property rights in this report including without limitation any/all contents/information/data forming a part of this report shall at all times vest with NSE. No part of this report may be sold/distributed/licensed/produced/transmitted in any form or manner by any means (including without limitation - electronic, mechanical, photocopying, recording or otherwise) to any person/entity whatsoever without the prior written permission of NSE. Extracts from this report may be used or cited provided that NSE is duly notified and acknowledged as the source of such extract.

This report is intended solely for information purposes. This report is under no circumstances intended to be used or considered as financial or investment advice, a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The Report has been prepared on best effort basis, relying upon information obtained from various sources. NSE does not guarantee the completeness, accuracy and/or timeliness of this report neither does NSE guarantee the accuracy or projections of future conditions from the use of this report or any information therein. In no event, NSE, or any of its officers, directors, employees, affiliates, or other agents are responsible for any loss or damage arising out of this report. All investments are subject to risks, which should be considered prior to making any investments.

###### 2/327



<!-- Page 4 -->

## Market Pulse

September 2026 | Vol. 8, Issue 9



###### NSE at a glance

###### NSE’s positioning and reach

##### NSE’s global positioning Domestic market share Reach 1 Largestexchangemulti-assetclass 3

1,330 Trading members 99+% Pin codes covered 13.5 Crore Unique registered PANs

###### Three-month rolling share (%)

EQ Cash

92.2

Third largest equity exchange by no. of trades (10.6% share in FY27TD* as per WFE)

Total passive AUM (domestic

EQ Futures

99.8

US$99.2bn*

+ global) tracking Nifty indices

EQ Options*

68.6

Largest derivatives exchange by contracts traded (FY27TD* share: 50.2% in eq. F&amp;O (WFE)

##### 1

US$5.14trn Market cap of listed entitles

FX Futures

100.0

As of August 31st, 2026, unless specified otherwise; *As of July 31st, 2026.

9 Marketcapitalization*

FX Options*

100.0

^Represents the aggregate market value of all equity shares traded on NSE and units of Listed REITs and InvITs traded on NSE as on the last trading day of the relevant period/year

-  Based on premium turnover
- * As of August 31st, 2026


*Source: WFE (Data is as of July 2026)

###### NSE’s contribution to the economy

###### Catalyst for capital formation SME Listing snapshot Market capitalisation

|136<br><br>0<br><br>100<br><br>200<br><br>0<br><br>100<br><br>200<br><br>300<br><br>400<br><br>500<br><br>FY17 FY19 FY21 FY23 FY25 FY
@opendocsg/pdf2md · nse-market-pulse.pdf · raw output

Samples: 1452.0 ms


<!-- PAGE_BREAK -->
September 2026 | Vol. 8, Issue 9 

### Market Pulse 

#### Volume 8, Issue 9 

This publication is issued monthly by the 

Economic Policy and Research (EPR) department 

of the National Stock Exchange of India Limited. It 

is a review of major developments in the economy 

and financial markets and market statistics for the 

month gone by, insights from cited academic 

research papers and topical research articles. 

**Authors** 

_Tirthankar Patnaik, PhD_ 

_Prerna Singhvi, CFA_ 

_Prosenjit Pal_ 

_Ashiana Salian_ 

_Sushant Hede_ 

_Stuti Bakshi_ 

_Puja Parmar, PhD_ 

_Aratrik Chakraborty_ 

_Sahil Bagdi_ 

_Anuska Mukherjee_ 

_Anoushka Singh_ 

Past editions of Market Pulse can be accessed at 

**https://www.nseindia.com/research/publications-reports-nse-** 

**market-pulse** 

##### NATIONAL STOCK EXCHANGE OF INDIA 

##### LIMITED 


<!-- PAGE_BREAK -->
September 2026 | Vol. 8, Issue 9 

## Market Pulse 

 Published by Economic Policy and Research, National Stock Exchange of India Ltd. Copyright © 2026 by National Stock Exchange of India Ltd. (NSE) Exchange Plaza, Bandra Kurla Complex Bandra (East), Mumbai 400 051 INDIA 

 Any/all Intellectual Property rights in this report including without limitation any/all contents/information/data forming a part of this report shall at all times vest with NSE. No part of this report may be sold/distributed/licensed/produced/transmitted in any form or manner by any means (including without limitation - electronic, mechanical, photocopying, recording or otherwise) to any person/entity whatsoever without the prior written permission of NSE. Extracts from this report may be used or cited provided that NSE is duly notified and acknowledged as the source of such extract. 

 This report is intended solely for information purposes. This report is under no circumstances intended to be used or considered as financial or investment advice, a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The Report has been prepared on best effort basis, relying upon information obtained from various sources. NSE does not guarantee the completeness, accuracy and/or timeliness of this report neither does NSE guarantee the accuracy or projections of future conditions from the use of this report or any information therein. In no event, NSE, or any of its officers, directors, employees, affiliates, or other agents are responsible for any loss or damage arising out of this report. All investments are subject to risks, which should be considered prior to making any investments. 


<!-- PAGE_BREAK -->
September 2026 | Vol. 8, Issue 9 

###### NSE at a glance 

**NSE’s positioning and reach** 

**NSE’s global positioning Domestic market share Reach** 

##### 1 

 Largest multi-asset class exchange 

##### 3 

 Third largest equity exchange by no. of trades (10.6% share in FY27TD* as per WFE) 

##### 1 

 Largest derivatives exchange by contracts traded (FY27TD* share: 50.2% in eq. F&O (WFE) 

##### 9 Market capitalization* 

 *Source: WFE (Data is as of July 2026) * Based on premium turnover ** As of August 31st, 2026 

 1,330 Trading members 99+% Pin codes covered 13.5 Crore Unique registered PANs 

 US$99.2bn* 

 Total passive AUM (domestic + global) tracking Nifty indices 

 US$5.14trn Market cap of listed entitles As of August 31st, 2026, unless specified otherwise; *As of July 31st, 2026. ^Represents the aggregate market value of all equity shares traded on NSE and units of Listed REITs and InvITs traded on NSE as on the last trading day of the relevant period/year 

**NSE’s contribution to the economy** 

**Catalyst for capital formation SME Listing snapshot**^ **Market capitalisation** 

 #Companies including AMCs and ITP listing as of August 2026 

 ^Represents the aggregate market value of all equity shares traded on NSE and units of Listed REITs and InvITs traded on NSE as on the last trading day of the rele
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