For businesses, there are many ways to raise long term finance. This could be by way of Debt or Equity.
For debt the businesses look forward to Commercial Banks (Term Loans or ECBs), NBFCs, Institutional Lenders such as LIC or GIC which act as Development Financial Institutions (DFs). Some other DFIs in India re NABARD, EXIM Bank, NHB, IDBI Bank and IFCI etc. Almost every state has its own state level DFI as well.
For equity the primary rout is Stock Markets apart from Private Equity (PE).
Bombay Stock Exchange (BSE), one of the two Indian stock markets (also known as stock exchange or bourse) is the oldest in Asia and one of the oldest in the world. Its benchmark index is known as Sensex (sensitive index) and is a collective measure of performance of 30 chosen shares (with large capitalisation, wide shareholder reach, actively traded).
BSE India Limited, the company which owns BSE is also a listed company. BSE has 5080 listed companies in it and from this point of view, this is the largest stock exchange in the world.
The other stock exchange is National Stock Exchange (NSE). The indicative index here is NIFTY which comprises of 50 active, large cap shares selected from various lines of businesses.
Both BSE and NSE have market capitalisation of USD 2.2 T each. The stock markets are governed in India by Securities and Exchange Board of India or simply put, SEBI.
From the point of view of the combined market value of shares of all the listed companies in it, the New York Stock Exchange (NYSE with index parameter known as Dow Jones) is the largest with USD 24 T. Second is NASDAQ (known for NASDAQ Composite Index) which lists technology companies with USD 11.3 T market capitalisation.
Japan Exchange Group (sensitive Index known as Nikkei) has regained its 3rd position replacing Shanghai Stock Exchange (index known as Shanghai Composite). Their capitalisation are USD 6.1 T and USD 4.5 T respectively.
London Stock Exchange (its index is known as FTSE representing 100 shares). It has USD 4.4 T as its market capitalisation.
Hong Kong Stock Exchange (indice is Hang Seng) has a capitalisation of USD 4.2 T.
The next is Shenzhen (USD 2.9T). Further down with USD 2.3 T capitalisation is Canadian share market TMX Group, Toronto. Though the capital of Canada is Ottawa, the financial capital and its largest city is Toronto.
