Despite Strong Cash and Futures Shares, NSE Loses Dominance in Options Market

Mumbai, July 23 — The National Stock Exchange continues to dominate India’s equity cash and futures markets, yet its supremacy in the equity options arena is waning. According to the most recent annual report and RH‑Prospectus statistics, NSE’s share in the equity options premium‑value segment fell from 96.9% in FY 2023‑24 to 87.4% in FY 2024‑25 and further to 74.71% in FY 2025‑26, a loss of more than 22 percentage points.

By comparison, the equity cash segment recorded a stable share of 92.7% in FY 2023‑24, 93.6% in FY 2024‑25, and 92.99% in FY 2025‑26. The equity futures segment remained virtually untouched, with a 99.9% share in both FY 2023‑24 and FY 2024‑25, slipping marginally to 99.79% in FY 2025‑26.

Financially, NSE’s operating income dropped to ₹16,601.30 crore for FY 2026 from ₹17,140.67 crore a year earlier, reflecting a decline of over 3%. Core transaction charges fell from ₹13,635.76 crore to ₹13,057.01 crore, while clearing and settlement revenue slumped 21.8% to ₹251.45 crore.

IANS sought clarification from the exchange about these trends; NSE has not provided a comment at this stage.