pdf-inspector vs @opendocsg/pdf2md

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# Quarterly Report

## Revenue grew 12% year over year.

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# Quarterly Report 

Revenue grew 12% year over year. 

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# Financial Summary

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

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# Financial Summary 

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

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# 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|

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# 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 

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# 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|

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# 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 

Samples: 2943.0 ms

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# 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 <u>[https://www.nseindia.com/research/publications-reports-nse-](https://www.nseindia.com/research/publications-reports-nse-) market-pulse</u>

#### NATIONAL STOCK EXCHANGE OF INDIA LIMITED

1/327


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# 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


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# 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

Largest multi-asset class 1,330 Trading members **Three-month rolling share (%)** **1**

|99+%|Pin codes covered|
|---|---|
|13.5 Crore|Unique registered PANs Total passive AUM (domestic|
|US$99.2bn*|+ global) tracking Nifty indices|
|US$5.14trn|Market cap of listed entitles|

exchange

|EQ Cash EQ Futures|||92.2 99.8|
|---|---|---|---|
|EQ Options* FX Futures||68.6|100.0|
|FX Options*|||100.0|
|* Based on premium turnover st ** As of August 31, 2026 Rs 23,993 crore Total capital raised|NSE’s contribution to the economy SME Listing snapshot|||
|through SME IPOs|748|||
|since|SME IPOs|||
|inception (till July 2026) (in lakh)|Investor growth Individual investors’ participation* CM|FO|164 Migration to Main Board|
|400 350|||353 358 359|
|||282||
|300 250||250||
||198|||
|200||||
|150|111||108|
|76 100|76|75|92 85|
|58||59||
|47|35|||
|50 10 8 7 0|18 12|||

##### Third largest equity exchange

## 3by no. of trades (10.6% share

in FY27TD* as per WFE)

Largest derivatives exchange by

## 1contracts traded (FY27TD*

share: 50.2% in eq. F&O (WFE) As of Aug

Samples: 1452.0 ms

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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 


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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. 


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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